It was dumb decision when the Feds raised the top tax rates in 1932, from 25% to 63%, with unemployment was at 23.6%. Things started picking up a wee bit by the mid-1930s. Unemployment was at 16.9% in 1936. That ended in 1936 when FDR decided to increase the top tax rates from 63% to 79% and onto 81% by 1940. In 1938 unemployment was at 19%. As the US started to ramp up manufacturing for WWII and our allies, unemployment dropped to 14.6% in 1940, 4.7% in 1942 and 1.2% in 1944.
Thanks to Hitler, Mussolini and Japan, happy days were here again! LOL
The taxpayers today are still paying for his blunder.