History has proved this time and again. You must have revenues to stimulate the economy. (see below) For the past sixty or so years, jobs and the economy have done better under Democrats when top tax rates were higher.
It would surprise most Tbaggers I feel sure, to learn that there are striking similarities between the great depression and our economic troubles today. We have experienced this dance under such Presidents as Reagan. He came into office and cut taxes dramatically and the economy tanked. Reagan then raised taxes TWELVE times and the economy recovered.
The similarities between the great depression and our present financial problems are stunningly clear. Prior to the great depression, the economy was robust. Under the loving care of Republican president Hoover's policies, America quickly slid into depression.
F.D.R. inherited the mess left by the Republican administration. He initiated work programs and things began to improve slowly. The GOP complained his policies caused the recovery to be too slow. In 1937 the Republicans convinced F.D.R. cut the deficit by cutting social programs. The economy slid into a recession... in the middle of the depression! F.D.R. quickly changed course and implemented a minimum wage and programs like the WPA. The Works Progress Administration (renamed during 1939 as the Work Projects Administration; WPA) was the largest and most ambitious New Deal agency, employing millions of unskilled workers to carry out public works projects,[1] including the construction of public buildings and roads, and operated large arts, drama, media, and literacy projects. It fed children and redistributed food, clothing, and housing. Almost every community in the United States had a park, bridge or school constructed by the agency, which especially
benefited rural and Western areas. Employment rose, the economy began healing again.
Taxes provide revenue... it takes revenue to stimulate the economy. It takes people having jobs to spend money that stimulates the economy.
To date the Republican led Congress has not passed ONE piece of legislation to provide ONE job! Their Stubborn, ignorant NO TAXES ON THE RICH and union busting agenda has however cost hundreds of thousands of Americans their jobs.
It is time to start getting a lot smarter if we are going to stop the Murdoch, Koch bros agenda of creating a plutocracy. Part of the battle plan must be an honest assessment of the "new" GOP. We must understand that lies and hypocrisy are mainstays in their playbook.
Debate is useless. The time has come to get off the couch and join the fight.
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