Depression of 1920
Harding reduced taxes on the wealthiest Americans from 73% to 25%. The size of the federal government was downsized and one of the worst recesions in our history was quickly turned around. Kennedy's tax cuts of the 60's and Reagan's tax cuts of the 80's had the same result.Austrian School economists and historians argue that the 1921 recession was a necessary market correction, required to engineer the massive realignments required of private business and industry following the end of the War. Libertarian paleoconservative historian Thomas Woods argues that President Harding's laissez-faire economic policies during the 1920-21 recession, combined with a coordinated aggressive policy of rapid government downsizing, had a direct influence (mostly through intentional non-influence) on the rapid and widespread private-sector recovery. Woods argued that, as there existed massive distortions in private markets due to government economic influence related to World War I, an equally massive "correction" to the distortions needed to occur as quickly as possible to realign investment and consumption with the new peace-time economic environment.
The Reagan Tax Cuts: Lessons for Tax Reform
Sorry, but tax cuts do stimulate the economy and actually bring in more tax revenue as history has proven repeatedly.The Reagan tax cuts, like similar measures enacted in the 1920s and 1960s, showed that reducing excessive tax rates stimulates growth, reduces tax avoidance, and can increase the amount and share of tax payments generated by the rich. High top tax rates can induce counterproductive behavior and suppress revenues, factors that are usually missed or understated in government static revenue analysis. Furthermore, the key assumption of static revenue analysis that economic growth is not affected by tax changes is disproved by the experience of previous tax reduction programs.
Obama helps out his cronies who head up labor unions to pay for their support. However he has done zilch to protect manufacturing jobs in general which used to be the backbone of the U.S. middle class. Not that Bush did anything positive in this area, but I find it hard to say that one side is materially worse in this area.
Frequently Asked Questions). How many of those small businesses even have a corporate office? Since the vast majority of small businesses have fewer than 100 employees, I don't think there's a lot of "corporate scum" to kick around. You're simply painting with a very broad brush and you're getting paint all over the place.
You are making some vast generalizations (you're good at that) and ignoring things like facts when you formulate your "opinions". And for the record, I'm no republican, yet another fact you ignored.