Let me introduce you to a man named Herbert Hoover. As the 31st President of the United States of America he is often listed as one of the worst our country has ever had. Why would he be looked at so poorly? Two words, Great Depression. 8 months after taking Wall street handed the new President the worst economic disaster our country has ever had and it was how he handled that disaster that made President Hoover known as one of our worst presidents.
So what did he do so wrong? There were several landmark policies that Hoover championed as the best solutions to end the depression.
First he believed in public works projects and infrastructure stimulus. Ever hear of the “Hoover Damn”? Hoover asked congress for millions of dollars (because they did not think in billions back then) to build the power generating damn. Yes that damn has provided Nevada and other states with electricity but the jobs created by that projected did nothing to end the great depression.
Secondly he raised taxes on the top tax bracket from 25% to 63%. Yes the top rate was at 25% during one of the largest economic booms in American history, the roaring 20s, so Hoover thought it would be a good idea to raise the top tax rate at the beginning of the great depression. How did that one work out?
Thirdly, if taxing the evil rich didn’t work maybe his plan to increase corporate taxes should have worked. Nope.
Wait a moment, I am having a sense of deja vu here. Hasn’t this been the DNC plan to deal with the current recession? Infrastructure, tax teh rich and tax corporation has been the campaign chants of the DNC. How is that working out? About as good as it did for Hoover.
Yes, there where other policies that did not help, the most obvious was the Smoot-Hawley Tariff. Oh wait, President Obama has been championing “The Currency Exchange Rate Oversight Reform Act” that will impose a tariff on China, one of the top owners of US debt.
Will President Obama be remembered as Hoover 2.0? Of course not, because Hoover didn’t have support through out academia for his policies to the level Obama does. The media of the time did not give Hoover a free pass while doing nothing but going after anyone that opposes him. President Obama will be sugar coated for history.
Don’t let the truth be ignored. The DNC is repeating all the mistakes of pass presidents, we need to get on the right direction before it is too late.