Posted on 10/29/2011 11:20:36 AM PDT by Evil Slayer
While Republican presidential candidates are looking forward by proposing variations of a flat income tax, President Obama’s tax-the-rich campaign strategy is looking backward—to Franklin Roosevelt’s 1936 reelection campaign. FDR won his reelection, but the American people lost: Roosevelt’s new taxes on business and the “economic royalists” gave us the “Roosevelt recession” of 1937-38.
By August of 1935, Roosevelt had achieved some of his signature pieces of legislation: a new entitlement program known as Social Security, banking reform, pro-union reform, infrastructure expansion and massive transfers of wealth to the poor and middle classes. Sound familiar?
FDR also ran up federal spending significantly: from 6 percent to 9 percent of the economy.
However, FDR needed more revenue to support his big-government schemes. More importantly, he needed a villain to explain why, given the passage of his New Deal legislation, government spending and regulations, the economy was still struggling.
So he proposed raising taxes on the rich, which he dubbed a “Wealth Tax.” As he explained to Congress in June 1935, “Our revenue laws have operated in many ways to the unfair advantage of the few, and they have done little to prevent the unjust concentration of wealth and economic power. … Social unrest and a deepening sense of unfairness are dangers to our national life which we must minimize by rigorous methods.” President Obama couldn’t have said it better himself.
(Excerpt) Read more at forbes.com ...
Stark difference between 1936 and today. Information cannot be controlled now as it was then.
Fabian Socialism Part DeuX
A HollyWeed Media Production
Finishing the ‘job’ of sucking the lifeblood out of a nation
Are we sure that it’s the American Presidential race of 1936 or perhaps there is a European Nation that might come to mind as well. Particularly with the recent penchant for liquidating people to achieve popularity.
In 1936 the internet didn’t exist. Critical difference.
Once America swallowed FDR’s Socialist rope, they had to keep swallowing through Lyndon Johnson’s “Great Society”, because the rope was already firmly established in the stomach, and Socialist policies of Clinton and Carter and now the Obama nightmare.
We never knew that rope was a hundred feet long, but once you start swallowing you have to continue, even when they ram it down your throat, as in the case of Obmacare.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.