FDR prolonged the great depression. The reason he was so popular is that he fooled people into thinking they were getting out of the great depression. You know what actually got us out of the great depression? WW2. FDR was a tyrant, and one of the worst presidents in American History, IMHO. You've all romanticized him into something he wasn't. Just because he spoke well and made people feel all warm and cozy inside, doesn't mean he was a good president.
these things will not cost anybody anything" - FDR
FDR IS THE MAN!!!!!!! PRESIDENT OBAMA, YOU REALLY SHOULD PATTERN YOUR REELECTION CAMPAIGN AFTER FDR. FUCK STUDYING REAGAN, STUDY FDR MR. PRESIDENT. What a fantastic speech.
"Let me warn you and let me warn the nation against the smooth evasion that says of course we believe these things. We believe in social security, we believe in work for the unemployed, we believe in saving homes. Cross our hearts and hope to die, we believe in all these things, but we do not like the way the present administration is doing them. Just turn them over to us. We will do all of them, we will do more of them, we will do them better, and most importantly of all, the doing of all
This clip is from a special that ABC ran in 1982 on the centennial of FDR's birth. It dedicated their entire evening broadcast to FDR. That's the famous Robert Trout, one of the best radio men of the 20th century, narrating. He was old, but still very much alive in 1982. I had this for years on VHS until I wore it out and of course ABC hasn't ever rerun or reissued it.
Republicans are always talking about allowing the markets to do their own thing. 1928-1933 we did things the republican way because your party controlled everything at the time. When you fail so badly that 40% of the gdp vanishes, 10,000 banks close, 30% loss in wages and 25% unemployment you no longer even deserve to have a voice in how government is run. When vast sums of people give their kids up for adoption because they cannot feed them your entire system can burn in hell.
@audimaximus that is some dangerous talk when you say people no longer have a voice in this country. The 'Republican way'? Do some more reading. It was protectionism, high taxation, government intervention and socialism that was a major cause of what you state. FDR made it worse. Ever hear of the Depression of 1920-21? The "Republican way" (37D-59R-1I) slashed spending and Fed raised interest rates. The marketplace fixed it. '28-29 came and government (47D-48R-1I) did the opposite. Crash
@firejack007 I know of the 1920 recession leading to a decade of dominance for the republican party. I also know of a dozen Koch financed organizations whose sole purpose is to drum up intelligent sounding arguments to combat leftist ideas. Every hear of John Maynard Keynes? He said the great depression was the fault of the largest tax cuts in US history. It would appear when inequality gets out of hand the middle class ends up devastated. Pay attention to inequality my friend.
@firejack007 Are you the employee of one of Kochs many organizations designed to drum up intellegent sounding arguments to stump leftist ideas in the court of public opinion? When Keynes said the massive tax cuts of the 20's was the cause of the great depression I tend to believe him. He said when a high percentage of wealth is earned by the few it will spell doom because those people spend so little of what they make. Kochs make 200 million a week at a century low tax rate.
@firejack007 It is pretty difficult to compare and contrast any policy from 1920 America. Please remember that in late 1918 1/4 of the worlds population died to the flu. The end of world war 1 soldiers were so sick they lied there in the fox hole too weak to defend themselves. That caused labor wages to skyrocket. Every where you looked their where dead people who needed to be hauled off to mass graves. Governements must have had all they could do to return life to normal.
@firejack007 There was protectionism. What high taxation do you speak of? 1925-1932 was the 2nd lowest tax rate on rich people in the last 95 years. Only eclipsed by todays %15 rate on billionaires. Where was the intervention and socialism while 11000 banks collapsed under hoover? Many of those where healthy banks done in by fear. For as long as the worst times in this countries history come under the lowest tax rates I am convinced you are reading only what you want to hear.
@firejack007 If the U.S. increased revenue enough to run a balanced budget, we would have the highest middle class tax rates in the world. Denmark gets = workers pay to the U.S. All workers get 30 paid days of vacation. All citizens get free child care, free health care, free college and get paid to go to college. Governement has balanced budgets and 4% unemployment. Their markets are almost as free has ours. Great job selling socialism has the root of all evil.
@firejack007 United States, Greece, Ireland, Spain and Italy. All governments running Keynsian social welfare policies combined with Republican tax policies. That is the worst idea in the history of mankind to combine both systems together. The pure Keynsian countries in scandinavia are doing great and so is the pure Hayek country of Hong Kong. All countries should choose what they are willing to pay for and base the tax rates off what they picked. Balanced budget ammendment FTW.
'All government have to do is protect property and the markets will regulate the rest.' What about disputes over property rights? What about BP cost saving on building standards and the social costs on coastal businesses? What about educating all children? Are you for a 911 service for poor people? Would you want government to check for lead in toys from China? What about goods for which there is no market, like pollution? In a situation of healthy competition there has to be a referee.
im a conservative and fdr was a good president. im not for greatly funding social programs but i agree with the need for some extent of them. sociali security is a can thats been kicked for too long. my father once told me that this social security mess is fdr's fault i replied just because he created it doesnt mean its his fault the presidents since him havent kept social security in check. fdr had no reason to believe that absolutely no president would keep the system running smoothly.
What a great upload; I love FDR. It's no wonder he was elected four times, he was the greatest economic/wartime president ever!
Republicans like Alf Landon are so against government welfare, they don't realize it can be used for GOOD, like what FDR did with the New Deal. How many Americans did he help with that one since the 30s to today?
I wish he could've lived forever and been re-elected in landslides forever.
FDR is pretty funny when he makes fun of Republicans.
Great new film on Youtube titled "The Last Days of the Big Lie" youtube.com/watch?v=-48HQpgQRz0
Dr. David Duke's latest video “The Real Rogue Nuclear State” is great also: youtube.com/watch?v=KLSlmLx4Fls
FDR vs. Hitler. Both took power 1933 their countries unemployed 25-30%. 6-8 years later Germany rate 2% USA still 20%. Who was better leader? How? Hitler threw off International Bankers. They still hate & vilify him to this day like he had no qualities.
The gop strategy is to spend spend bring america close to bankruptcy and then claim we have no choice but to end social security etc and people will fall for it
@harj2009 You are confusing the GOP with Democrats. I say this because your only defense in this argument is that Bush did it. Which is a bad argument because most Republicans (true Republicans) don't consider him a traditional conservative. Traditionally they are for smaller government which facilitates the ability to lower taxes without causing a budget deficit. However, since democrats (and Bush) beefed up the Government it is hard to lower taxes without cutting government budget.
@OjiveDturkeiU no im not, Republicans could never start cutting all the social programs etc they need an excuse so they will manufacture a crises and use that create a smaller state
i'm 12 years old. in 5th grade i went to the fdr meusem for a class trip. ever sence then he was so inspirational to me. i am so obbsessed with him!i go to his meuseum alot more ever sence then. i think what got me so into him is if you think about it he looks like a man you would find now 2011
How can you make a claim that it is all republicans fault that Social Security, Medicare, and Welfare have fallen through causing entitlement programs that are unfunded? Did you know that in Galvanis, Texas they opted out of Social Security for a privatized form of it and during the current recession they make two times more in SS benefits than those who are on the government provided form. Democrats are too stupid to realize government run anything usually fails or is sub par. Name on good one
The decades following WW2 were marked by unparalleled prosperity. Try to find a severe recession, stock market crash, real estate crash, or banking crisis in the years from the FDR era until 1987. This was under the policies that were created under FDR & the New Deal.
BTW the sour economies of the 1970's were not caused by big govt policies & taxation as Reagan claimed, but by the oil crisis which was precipitated by OPEC cutting the flow of oil out of the Middle East.
@OjiveDturkeiU Also, I do not consider it Conservative dogma. I consider what I have learned at my time in college and I have come to certain conclusions such as Democrats and Republicans alike are completely unfit to run the government. BOTH parties are about pursuing their agendas and then letting themselves be run by central banks, war profiteers, and major corporations that seek to curve legislation to create barriers of entry and pseudo monopolies. The past 15 years is evidence of that.
FDR also betrayed Filipinos who fought for America...he caused thousands of deaths to American and Filipinos during WWII ...he was a liar and betrayed a great man Gen MacArthur ....why do liberals worship him?
@bennyfifty MacArthur was totally unprepared for WW II and escaped from the PI to save his own skin. He left 1000s of American troops and civilians behind. He betrayed them absolutely.
FDR lengthened the Great Depression to at least four times to as long it would have been if we had used free market solutions and non-interventionism.
We've never seen conservative policies get us out of a Depression. We've only seen them get the U.S. into Depressions.
BTW - the top marginal tax rate during the Reagan recovery of 1984 was 50% - that's more than 10% higher than the top tax rate was under Clinton and 15% higher than it is now.
Once again. We have never seen the Republicans get the country out of a Great Depression. The cons have only created them.
Compare the Great Depression to the Long Depression of 1873. There were no government programs like the WPA, TVA or the CCC to put people back to work and that depression lasted 24 years. It did take WW2 to get the country back to high employment, but the improvement in quality of life for Americans can be measured by the fact that FDR was re-elected 3 times.
You have conveniently ignored the my point on how the cons have never close to the great acheivemnts of the New Deal & the kind of prosperity that working class Americans enjoyed in the decades following WW2.
Hoover's feeble response to the Republican Great Depression included balancing the budget. This strategy may sound familiar. So his meager stimulus spending was limited to what could be done within his own self imposed restrictions.
First off, it is rude of you to assume I am a supporter of the GOP. I am not. However, there was in fact a republican who very well got us out of a recession, his name would be Warren G. Harding. What he did to get us out of the recession? Nothing except cutting spending in 1921. The economy was back in shape by 1929.
By the way, I would like to remind you that after the majority of soldiers were laid off after the war, we were pretty much at the same level of unemployment as in 1939.
You’re comparing the forgotten recession of '21 to the Depression?
Cutting spending during a recession is proven to be the exact opposite of the proper course. Hoover did it during the recession following the crash of '29 turning it into the Depression. By 1932 unemployment was 29%. Historically, If you look at the times when the top tax rate is cut below 50% it eventually results in a severe recession. Case in point: the current recession, the recession of 1991 & the Great Depression.
@mrboffo1 Huh? Hoover didn't cut spending, he increased spending. His wild spending and increases in government intervention in the economy are what caused the depression.
It wasn't wild, stupid. The US federal budget under Hoover was a mere whisper compared to that under the New Deal, WW2, or every year since. Spending rises during every recession, and it doesn't lead to depressions you ignorant fool.
@cloudbuster77 No, the only period where we had relatively free market banking was during the early years of the Independent Treasury System prior to the Civil War. Several Civil War acts instituted national banks and various regulations and eventually in 1913 the Federal Reserve Act was passed, ultimately leading to our current nationalized and centrally regulated banking system after the last vestiges of the Independent Treasury System went away in 1921.
@bartj777 i couldn't disagree with you more. we had lax regs until fdr enacted regulations such as glass steagel and a couple other acts. In the late 1800s, the gilded age, we'd have a banking bust every 10 yrs or so due to lack of regs. lack of regs led to the banking crisis in '29, that is why fdr enacted the regs which served us well until clinton rolled over and signed the repubs bills to repeal glass steagel and that other act in 2000. and repeal of those 2 regs led to our recent recession
@cloudbuster77 But the facts don't agree with you. Ever since the Civil War we've had ever increasing banking regulations. Plus in 1913 the Federal Reserve was created which is the central banking regulating authority. We'd have a banking bust because of too much regulation. After Jackson defunded the Bank of the United States but before the Civil War regulations, we had the most stable banking system we've ever had with almost no regulations.
@bartj777 bart, your "facts" are from the same people that wrote the "fractured fairytales" cartoon series. lack of regs led to the periodic busts of the gilded age and the great depression and the recession we're in now. look at canada and germany, their banks are more highly regulated and canada hasn't had to bail out their banks like we have had to do and germany hasn't suffered nearly as much as we have during this recession.
@cloudbuster77 Sorry, but the facts are that banking regulations lead to instability in the financial sector. Ever since the Civil War our regulations have been constantly growing and the economic swings have been getting more common and worse. We clearly need to deregulate the entire financial sector because the government has proven over the last few years that it is completely incapable of managing the economy. This recession was caused by over regulation from the Federal Reserve.
@bartj777 Prior to the federal reserve act there were no banking regulations. The panic of 1907 and resulting recession/depression was the cause of the institution of the Federal Reserve. Read "The Panic of 1907" and learn some history. Also "Lords of Finance" a history of the 4 central bankers during the 20's and 30's will illustrate that those who acted and used their powers saved their country from as much suffering and the ideologues who stuck with the gold std plunged thr county into de
@enkelin32 No banking regulations? Are you serious? There were too many banking regulations, that was the problem. Please don't make things up. It's a waste of everyone's time.
@bartj777 Then why did FDR have to pass Glass Teagall and FDIC was not until the 1930s as well. NO it is YOU who is making up fantasy bs. If you thing there were banking regulations how about listing them.
@enkelin32 Because the regulation cause problems which can only be "cured" by yet more regulations, which cause yet more problems. It never works but only makes things worse. Suckers like you blame the market when it is the interventions that cause the problems.
Listing them? You seriously have never heard of the National Banking Acts from 1863 and 1864? My goodness you are naive.
@bartj777 Im really interested in this point of view. How would you stop companies selling investments to consumers that they know are shit but get AAA rated, then betting they will fail using insurers and making lots of money at the consumers expense. My idea is that an the government should be the referee and prevent this, how would you prevent it???
@peaco1000 I wouldn't need to. Why do regular folk make such risky investments instead of just buying CD's at the bank? The government causes this through taxes, inflation and lowering interest rates. Under a gold standard, inflation would be low, interest rates would be higher, and I would get rid of income and capital gains taxes, thus making a plain old CD at your local bank a sufficient method to save for retirement instead of being forced to become speculators on the investment market.
@bartj777 The idea is that the consumers do not know that its risky, its AAA rated but its shit. The gold-standard thing is nostalgia bs in my opinion we live in a complicated gobalisaed world, so thats a non-starter.Without income and capital gains tax how would we pay for defense and medicare, which make up such a huge proportion of the budget? (And well over 70% of the country are in favour of them in their current form, you saw the reaction to the Ryan plan).
@peaco1000 Yes, the world is globalized and complicated, that's why a gold standard is necessary. How can entrepreneurs plan in a global economy without a gold standard? Without a gold standard price fluctuations are unpredictable and then you get things like the housing bubble. And consumers know that buying securities is riskier than buying a CD at the bank, but they are forced to become speculators for reasons already given. And we don't need a huge military or medicare.
@bartj777 Gold is one commodity in a world of many commodities. Why would you want to peg the whole american economy onto one commodity? Its crazy. The world has changed since the early twentieth century. You are engaging in nostalgia and suedo economics.
Medicare is a program that provides an essential service that is poorly catered for on the market. The market will not insure old people because of their health risks or would charge unaffordable premiums.
@peaco1000 It's clearly much more crazy not to peg the economy to any commodity but to trust the government with the money. Why would anyone not want to peg the economy to something so trustworthy, stable and with such a great track record as gold? The economy is far too complicated for anything but a gold standard. This isn't the stone age, we need a real currency in order to conduct modern business. And without medicare old people would have far better health care at a much cheaper price.
@bartj777 OK so there is a mining disaster and people taste for gold declines what happens to the US economy. Come on. I know you libertarians have a hard time with the Fed so thats your underlying motive.
Without medicare would you as an insurance company insure a 70 year old with high blood pressure? You have to accept that capitalism does work and is the only game in town. But it is not perfect and there are distortions that the government needs to deal with.
@peaco1000 It's not just the Fed, but non-backed currency. The government wants to spend but not to tax directly. Fiat currency allows it to do so with the backdoor inflation tax. As for your scenario that's just as silly as some cotton disaster making everyone's taste for US dollars decline.
As for medicare, you are presuming that insurance is necessary. No one says capitalism is perfect, it's just better than government intervention, that's all. The government causes the distortions.
@bartj777 aaaaaah now I get it. Medical insurance is not necessary. People should buy it as a prodcut like a washing powder at the supermarket. People who cant afford it die. I now see what kind of society you want to live in. Its quite clear. You know theres not a lot of government internvention in Somalia right now. In fact the government resides outside the country. Perfect.
@peaco1000 No, I don't think you do get it. You assume medical care must be expensive. Also, you do agree that a gold standard and no income or capital gains taxes would take care of your original concern, right? With higher interest rates, no inflation and no taxes, regular people wouldn't need to become speculators and buy securities, would they?
@bartj777 Please tell me how a low income hard-working american would get the medical treatment they need in older age under your system? How could you get no inflation when interest rates are high? How can you get a military or courts without taxes? This is a crackpot theory which rightfully belongs on the obscure margins of economic theory. I bet you are supply-sider too and believe Hitler was a lefty.
@peaco1000 Why would high interest rates cause inflation? inflation is caused by the supply of money and the velocity of money. If anything higher interest rates would lower inflation. You keep assuming medical treatment is supposed to be expensive. If it was affordable would you still worry about it? How did the government pay for the military and courts before the 16th amendment? I hate when ignorant people act like they can dismiss other's idea when they are so clueless about the world.
@bartj777 OK so you want to gamble the stability of the US economy on the performance of one commodity,I am happy to delegate monetary policy to the Fed which I think has strong incentive to create sensible monetary policy
Of course medical treatment is expensive.Being a doctor is a highly skilled job, producing drugs that have been researched and tested is capital intensive.Health is therefore an expensive commodity especially as it needs to be continuous purchased.How could it be otherwise?
@peaco1000 Considering gold has stood the test of the market over thousands of years, and it was under the gold standard that the industrial revolution took place, it isn't much of a gamble. As for the Fed, what motivation does it have not to steal from the people via inflation? None.
Deregulate and unsubsidize health care and watch the price plummet as the market regulations take over. You're so afraid of the worst happening that you prevent the best from happening.
@bartj777 So there is no incentive for the Fed to keep inflation under control so that people have higher real wages and the country is more prosperous? I think you're in conspiracy theory territory.
With deregulated and unsubsidized health care, doctors would be paid the same wage, drugs would cost the same, medical equipment would cost the same. The difference is that many working people would not afford it and die. Not to mention discrimination due to pre-existing conditions. Bleak.
@peaco1000 Conspiracy theory? Are you kidding? That's the economic theory Bernanke follows--Keynesianism. Have you never read his General Theory?
Deregulation causes prices to go down. Look at the airline industry, trucking and energy. Regulation causes prices to go up. Look at the railroad industry, higher education and the medical industry.
Prices always go down in a free market. Just look at history. Regulation causes poorer quality with higher cost. You are killing people.
@bartj777 You think that the Fed are stealing from people instead of trying to maintain stable prices and wages.I believe that is a conspriracy theory.
Regulation protects against externalities. For example, ensuring that corners are not cut when oil rigs are errected in the Gulf or that CDS that are worthless are not given AAA ratings and then bet against.
Your homework is to look up 'externalities', 'moral hazzard' and 'assymetrical information'. This is why regulation is needed.
@peaco1000 Umm, the purpose of the Fed is to steal from people by intentionally lowering wages through inflation to decrease unemployment. Look it up. Haven't you read Keynes?
You need to look up externalities, moral hazard and asymmetrical information and get back to me when you understand them. The purpose of government controls is to eliminate market regulations so that businesses can get away with things. Don't be naive. Of course regulations are needed: market regulations.
@bartj777 Yes I have read Keynes's 'General Theory...', Ive read Friedman 'Cpaitalism and Freedom' and Hayek's 'Road to Serfdom'. Keynes addresses economies that lack demand (which you would probably believe is impossible) where the government compensates for lack of demand by spending on large projects that induce demand and confidence as well as cutting tax.
Markets dont regulate themselves. Self-interest has to be restrained to reduce externalities and moral hazzard. Do you like Smith?
@peaco1000 No, you haven't read any of those, so quit boasting. If you had then you would know that's exactly what Keynes proposes to "solve" sticky wages--lower them through inflation.
Economies don't lack demand, Says Law. QED
Markets do regulate themselves because they restrain self-interest and prevent externalities and moral hazard. Government regulation is what allows externalities to persist. Government regulation is what creates moral hazard. Don't be naive.
@bartj777 OK I (and the vast majority of economists) do not believe that supply creates its won demand. When confidence is low and consumers and investors dont want to risk capital, you can have as much supply as you want, people will hoard capital (as corporations are now). The paradox of Thrift comes into play. As we disagree on Say's law we not agree about much.
Even Smith acknowledges government have to regulate markets. Intellectual property rights, health and saftey standards, environment
@peaco1000 And the vast majority of economists failed to predict the recession from the housing bubble. The ones who got it right understand that Says Law stands unchallenged. The paradox of thrift is a myth, as proven by Hayek. Even Smith? Goodness you are out of touch. You have NOT read Hayek if you think Smith is some sort of giant to me. The government does not regulate but manipulates markets. All government has to do is protect property rights and the markets will regulate the rest.
It is also important to note that the top marginal tax rate in 1920 - 1921 was 73%. The tax cut of 1922 cut the rate to 58% - Still a very high tax rate. This was the tax rate during the recovery. My point is that big cuts in the top rate result in short term booms followed by gigantic recessions.
@mrboffo1 I think it seems to be a trait of unregulated capitalism in general: immediate success followed by the bottom falling out. The trend seems to be that capitalism results in short-lived prosperity, then socialistic regulation needs to dig us back out.
@mrboffo1 in the 1920s we had unregulated banks like the last 2 decades and we saw that worked out. The top marginal tax rate during repub eisehnower's admin was 91% and look how the country was going gangbusters during that time. it was a time that saw the middle class expand greatly. Reagen cut taxes on the rich bigtime and boom, up goes the defecit and we've been stuck w/em ever since save clinton's tenure. did W's record tax cuts bring ultra low unemployment? umm, no, rather hi unemployment
I like watching all of you Democrats celebrate FDR's massive spending and governmental programs. I guess you guys like celebrating over a decade of high unemployment due to his policies..
Yep, same thing then, same thing now.. History repeats itself.. Well done!!
@bonfirejovi I'd never say FDR was perfect, no president was perfect. Many had good aspects but also bad aspects. That said, I think I would have taken FDR over Hoover.
@pghquest Well the Great Depression what I like to call the American "Lost Decade". All that spending and what did we get? Just a bloated government and enormous debt.
The sooner people realize this, the sooner we can avoid another government take over of the country. and vote out Obama
We are currently historically low tax rates - the Bush tax rates which the Republican want to extend. These rates didn't create many jobs when the economy was growing. Why should we expect it now?
The U.S. has never had a strong economic recovery under a tax rate this low.
Government spending creates jobs when it's directed in the right direction. Next time Congress has hearings on base closings, watch the cons line up with the Dems to keep those bases open. The Pentagon has long list of about 200 bases across the country that they don't want or need, but they can't close them down because it would destroy the towns that have grown up around them. This is SOCIALISM & people from those states love it!
Most of these bases were opened under FDR in WWII.
According to conservative dogma, low taxes on the rich is what unleashes private sector job creation.
We have historically low taxes right now. These tax rates have been in place for 9 years. Last quarter, U.S. corporations earned more money than in any other quarter in U.S. history and those corporations are currently sitting on more cash than at any other time in history.
Don't be discouraged. Those comments below are by people paid by the darkest part of the republican party to try and rewrite history. We all know that America was blessed by the superb leadership of FDR. The multinational corporations have hired people to go on websites like this to post these comments as way to to discourage you. If you don't believe me, wait for the reaction to this post. They are watching.
I was going to post here, but after looking down I choose not to be in the company of so many myopic and stupid people......FDR had more character than we had ever had before that point.
I'd have respect for him if he didn't steal the gold of the american people, destroy livestock and crops while people starved, made it impossible for small businesses to compete against big businesses with price controls, provoke Japan into attacking the United states by supporting China, or kill millions of Japanese and German Civilians.
Fuck FDR, If there's a god and he loves us, I'm sure he's burning in hell.
It seems in the world we live in is more like 1984 then anyone had ever imagined. Left is right, up is down, good is bad, criminals are ok, patriots are defamed. Our establishment called the Federal Government, has been absolutely slaughtered by the Progressive movement and it is our job to figure out how. The establishment loved FDR, he was a puppet for the bankers, just like Obama and the rest of em since 1913
Roosevelt was such a bad president that he was elected 4 times.
But seriously, just look at the period following WW2. From the end of the Great Depression until the oil crisis of the 1970's there were no severe recessions, no stock market/real estate crashes and no banking crises. But it wasn't until Reagan's disastrous 1987 tax cut which lowered the top tax rate to 28% for the first time since '31 that we returned to the boom / bust / bailout cycles of "Depression Economics".
@mrboffo1 He was "elected" four times with the powerful influence of his lobbiests which eventually managed to bend the law and get him a 3rd term. This was a vividly clear example that even in the 30s the US was already in the grip of a few very powerful individuals.
That's even more idiotic than your first comment. It wasn't against the law to run for a 3rd term in 1940. The 22nd Amendment, which limited a president to 2 terms, was not ratified until 1951. If FDR did have "lobbiests" they wouldn't need to bend the law to get him a 3rd term. The people voted for him to a 3rd term because he led the nation out of the grips of the Republican Great Depression.
FDR's policies created the greatest economy in the history of the world after WW2.
@mrboffo1 - so the solution is constant tax hikes and increased transfer of capital to the government to kick the can down the road a little further? What happens when government consumption reaches 100% of GDP? If you rob a man and then use the money to pay his salary the next day, his wealth does not grow. Even a 2004 study by the UCLA (not exactly a bulwark of conservative thought) Economics Department blamed FDR's policies for extending the Great Depression by 7 years.
Name one strong economic recovery that has occurred in the last 100 years when we have had a top marginal tax rate as low as it is now with the Bush era tax rates.
It has never happened.
The lowest recorded unemployment rate in history (since we have been keeping track), was in 1953 when the top marginal tax rate was 91%. The highest unemployment rate in history was in the years following the lowest tax rates in the last 100 years, in 1929 when the top rate was 24%.
That lowest unemployment rate in history was 2.5%.
BTW the 91% top marginal tax rate was under a progressive tax rate.
It occurs to me that the concept of a top marginal tax rate is a sticking point with many chronically misinformed conservatives & this needs to be explained. A progressive tax is a tax by which the tax rate increases as the taxable base amount increases. So the 91% rate was only on income earned after $400k, a lot of money in 1953.
@mrboffo1 - Many measures of economic strength focus on spending and employment. That would seem reasonable, but it doesn't account for the fact that real wealth is in valuable goods and services, not paper money. If people are employed doing unnecessary things for the government (say digging holes and filling them in), they make money and they are employed, but society has no more real wealth to show for its efforts. We could all quit our jobs, play Monopoly, and claim to have a strong economy.
Government spending can help during a recession, but government spending alone isn't necessarily the answer. A certain level of taxation has been proven to give incentive for large businesses to reinvest more of their pre-tax dollars, rather than pay them to the government in income tax.
Also, cons are fond of saying that it was WW2 that got the US out the Depression. WW2 was essentially a command economy driven by massive spending with the highest tax rates of the 20th Century.
@mrboffo1 - I would agree that war did not end the Depression. War is never good for the economy (broken window fallacy), but I'm not sure I understand why you would be in agreement. Aren't you saying that a command economy with massive spending and high taxes is good? What's the difference whether it's war or some bureaucracy?
What got us out of the Depression is when businesses felt comfortable that there would be no more "New Deals", the war ended, and spending was finally reduced.
Hear that, millions of americans VICTIMS of a depression!
Funny when today anyone who's on the street through no fault of their own, having applied to everything for the past 2 years with no success could be called lazy and a loser.
FDR was one of the greatest enemies this nation has ever known. His contempt for the Constitution and for individual liberty set the stage for eventual totalitarianism (for which we are clearly headed). His hatred of our founding principles gave him justification for imprisoning 100 thousand Japanese Americans based on ethnicity alone. This precedent was never overturned and is similar to the arguments of Bush and Obama in supporting unconstitutional provisions of "The Patriot Act".
Nobody's perfect. Internment camps were a disgrace, but on economics he is the greatest president in U.S. history, bar none. See my comments @AlexNOSAM above.
FDR had secret closed door meetings with industry leaders to institute price control on everything. Big business was afraid of the falling prices hurting their profits. The result? The people couldn't afford to buy the products and services, so the Depression lingered and lingered. FOR 13 YEARS!!!!! Americans really ARE stupid, collectively.
@bookhound63 Obama is NO FDR, and if you thin Obama is a socialist..LMFAO..then you dont know shit about socialism or capitalism. But what are you tea baggers doing here? Shouldnt you be taking the revised history classes at glen becks online diploma mill...er...I mean college?
@cosmicforums We don't diss Lincoln. What planet are you from? We love Lincoln, and Reagan. And if you call reading the actual words the founding fathers wrote "revised history" then you are seriously deluded. What better way to learn what they were actually thinking than to read their words, rather than words someone wrote about them 200 years later.
Reagan, ruined commercial aviation, passenger rail service, banking . His neo-con followers have nearly caused a world-wide depression by essentially removing "excessive greed" from the list of bad things, allowed oil to flow freely in the Gulf through a systematic dismantling of most regulations and regulatory agencies, encouraged huge corporations to play a large role in electing our officials. 4. created the greatest gap between the "haves" and the "have-nots" since the '30s.
FDR Kicked Hitler's and Mussolini's asses and was the one who authorized the Manhattan Project and understood how important it was (a) the Germans *not* get one and (b) to get one built ASAP. Maybe he wasn't the greatest President but there is no denying how important he was to the USA and the World.
FDR's "Smoot-Hawley" Tarrif Act and the New (fascist) Deal kept America mired in a depression for a decade.
Liberal's response to it: Happiness.
Thankfully, upon the dictator's death, which was the only way he would ever leave office, almost all of his fascist mandates were ruled unconstitutional by the US Supreme Court, and were terminated.
yeah FDR, the big thief, ehhh a big chief. Tax, coercion and war, that is what we need. As long as they are accompanied with the right words, a glut of bloodshed and destruction does wonders for the economy.
wow politics back then explained by politicians, how could I NOT take this for it's face value? Statistics? Naw, who needs em. Facts? Those are stupid too. Speeches from political opponents? Now there's some real swaying evidence :D
In 1941, changes were made to both rates and base. Higher tax rates were adopted and lower exemptions were allowed, thus expanding the base. Higher tax rates were adopted again in 1942. With the inclusion of a surtax, tax rates ranged from 13 percent on the first $2000 of taxable income to 82 percent on taxable income in excess of $200,000.
Individual tax rates were reduced from wartime highs, and the tax base began to narrow with the adoption of exemptions, deductions, and credits.
anybody with 4 terms these days easily take advantage of that such as chavez is doing . lucky for us we limited the reelection to one time or else who knows what georgie porgie would of done to us
FDR was actually the closest thing to a dictator we had. Read up on him. He set the price of gold irresponsibly...he couldn't run a business for the life of him. He was not who he seemed to be behind closed doors. FDR was a sorry human being.
@lildwayne21 you are a freaking nut. Republicans were founded on ablotiong slavery. comunism and liberals are the same
Bwag35 1 week ago
FDR prolonged the great depression. The reason he was so popular is that he fooled people into thinking they were getting out of the great depression. You know what actually got us out of the great depression? WW2. FDR was a tyrant, and one of the worst presidents in American History, IMHO. You've all romanticized him into something he wasn't. Just because he spoke well and made people feel all warm and cozy inside, doesn't mean he was a good president.
Maserati7200 1 week ago
In terms of Healthcare Roosevelt was talking about building a Healthcare infrastructure such as Hill-Burton
or how the New Deal actually built around 300 charity hospitals
Salvysahagun 2 months ago
Franklin Delano Rosevelt was a very good president , especially compared to Obama.
Blazeunit44 4 months ago
@Blazeunit44 escpecially compared to Bush... Reagan... Hoover... notice how they're all Republicans....
MrCommenterer 3 months ago
FDR, you are a giant! compared to the scoundrels running around in Washington today,
dellbalboa 4 months ago
The GOP (Greedy Old Perverts)
lol I'll have to remember that one!
Hyurii 4 months ago
@Hyurii Greedy Old Pigs is an acronym that I prefer.
dchris1990 4 months ago
FDR we need you back! Obama isn't a progressive not even a liberal for that matter!
TheORGANEZIZED 4 months ago
SHAME ON FDR FOR HIS INTERNMENT OF JAPANESE-AMERICANS.
DaveDaShrubber 4 months ago
@DaveDaShrubber Well yes you are right. I still think he was a great president, but you are CORRECT
Triumph72 3 months ago
these things will not cost anybody anything" - FDR
FDR IS THE MAN!!!!!!! PRESIDENT OBAMA, YOU REALLY SHOULD PATTERN YOUR REELECTION CAMPAIGN AFTER FDR. FUCK STUDYING REAGAN, STUDY FDR MR. PRESIDENT. What a fantastic speech.
lildwayne21 4 months ago 8
"Let me warn you and let me warn the nation against the smooth evasion that says of course we believe these things. We believe in social security, we believe in work for the unemployed, we believe in saving homes. Cross our hearts and hope to die, we believe in all these things, but we do not like the way the present administration is doing them. Just turn them over to us. We will do all of them, we will do more of them, we will do them better, and most importantly of all, the doing of all
lildwayne21 4 months ago 5
Pretty much a badass.
rockyrigby 4 months ago
FDR Rocks
tbirdit086 5 months ago
This clip is from a special that ABC ran in 1982 on the centennial of FDR's birth. It dedicated their entire evening broadcast to FDR. That's the famous Robert Trout, one of the best radio men of the 20th century, narrating. He was old, but still very much alive in 1982. I had this for years on VHS until I wore it out and of course ABC hasn't ever rerun or reissued it.
johnrk556 5 months ago
@johnrk556 Thank you for posting this important clip! It really resonates with our situation today. We could use another FDR today!
jacq88rock 4 months ago
Republicans are always talking about allowing the markets to do their own thing. 1928-1933 we did things the republican way because your party controlled everything at the time. When you fail so badly that 40% of the gdp vanishes, 10,000 banks close, 30% loss in wages and 25% unemployment you no longer even deserve to have a voice in how government is run. When vast sums of people give their kids up for adoption because they cannot feed them your entire system can burn in hell.
audimaximus 5 months ago
@audimaximus that is some dangerous talk when you say people no longer have a voice in this country. The 'Republican way'? Do some more reading. It was protectionism, high taxation, government intervention and socialism that was a major cause of what you state. FDR made it worse. Ever hear of the Depression of 1920-21? The "Republican way" (37D-59R-1I) slashed spending and Fed raised interest rates. The marketplace fixed it. '28-29 came and government (47D-48R-1I) did the opposite. Crash
firejack007 3 months ago
@firejack007 I know of the 1920 recession leading to a decade of dominance for the republican party. I also know of a dozen Koch financed organizations whose sole purpose is to drum up intelligent sounding arguments to combat leftist ideas. Every hear of John Maynard Keynes? He said the great depression was the fault of the largest tax cuts in US history. It would appear when inequality gets out of hand the middle class ends up devastated. Pay attention to inequality my friend.
audimaximus 3 months ago
@firejack007 Are you the employee of one of Kochs many organizations designed to drum up intellegent sounding arguments to stump leftist ideas in the court of public opinion? When Keynes said the massive tax cuts of the 20's was the cause of the great depression I tend to believe him. He said when a high percentage of wealth is earned by the few it will spell doom because those people spend so little of what they make. Kochs make 200 million a week at a century low tax rate.
audimaximus 3 months ago
@firejack007 It is pretty difficult to compare and contrast any policy from 1920 America. Please remember that in late 1918 1/4 of the worlds population died to the flu. The end of world war 1 soldiers were so sick they lied there in the fox hole too weak to defend themselves. That caused labor wages to skyrocket. Every where you looked their where dead people who needed to be hauled off to mass graves. Governements must have had all they could do to return life to normal.
audimaximus 3 months ago
@firejack007 There was protectionism. What high taxation do you speak of? 1925-1932 was the 2nd lowest tax rate on rich people in the last 95 years. Only eclipsed by todays %15 rate on billionaires. Where was the intervention and socialism while 11000 banks collapsed under hoover? Many of those where healthy banks done in by fear. For as long as the worst times in this countries history come under the lowest tax rates I am convinced you are reading only what you want to hear.
audimaximus 2 months ago
@firejack007 If the U.S. increased revenue enough to run a balanced budget, we would have the highest middle class tax rates in the world. Denmark gets = workers pay to the U.S. All workers get 30 paid days of vacation. All citizens get free child care, free health care, free college and get paid to go to college. Governement has balanced budgets and 4% unemployment. Their markets are almost as free has ours. Great job selling socialism has the root of all evil.
audimaximus 2 months ago
@firejack007 United States, Greece, Ireland, Spain and Italy. All governments running Keynsian social welfare policies combined with Republican tax policies. That is the worst idea in the history of mankind to combine both systems together. The pure Keynsian countries in scandinavia are doing great and so is the pure Hayek country of Hong Kong. All countries should choose what they are willing to pay for and base the tax rates off what they picked. Balanced budget ammendment FTW.
audimaximus 2 months ago
@audimaximus Thats exactly right. Reagan convinced americans they could have the best of both worlds but you cant.
Seaworldexists 2 months ago
'All government have to do is protect property and the markets will regulate the rest.' What about disputes over property rights? What about BP cost saving on building standards and the social costs on coastal businesses? What about educating all children? Are you for a 911 service for poor people? Would you want government to check for lead in toys from China? What about goods for which there is no market, like pollution? In a situation of healthy competition there has to be a referee.
peaco1000 5 months ago
@looptak Where is you aregument man? These are just lists like a shopping list for the supermarket. Talk about anti-intellectualism.
peaco1000 5 months ago
@looptak Moron. You should have finished school. Go back and learn real history, not the crap you pick up on nutwing radio and the Fox Spin Channel.
whiskersneighbour1 5 months ago
This has been flagged as spam show
*Check out the video on my channel: This is my # 2 favorite president ever !
yadig2012 5 months ago
im a conservative and fdr was a good president. im not for greatly funding social programs but i agree with the need for some extent of them. sociali security is a can thats been kicked for too long. my father once told me that this social security mess is fdr's fault i replied just because he created it doesnt mean its his fault the presidents since him havent kept social security in check. fdr had no reason to believe that absolutely no president would keep the system running smoothly.
slashisgod9299 6 months ago
What a great upload; I love FDR. It's no wonder he was elected four times, he was the greatest economic/wartime president ever!
Republicans like Alf Landon are so against government welfare, they don't realize it can be used for GOOD, like what FDR did with the New Deal. How many Americans did he help with that one since the 30s to today?
I wish he could've lived forever and been re-elected in landslides forever.
FDR is pretty funny when he makes fun of Republicans.
sumskater999 9 months ago 2
F.D.R.!!!
Fight the money-power. It owns American politics. Campaign-finance reform. Power back to the people!
parafleet 9 months ago
haha, FDR's the man!
What a pimp.
=3
TAz69x 9 months ago
This has been flagged as spam show
Great new film on Youtube titled "The Last Days of the Big Lie" youtube.com/watch?v=-48HQpgQRz0
Dr. David Duke's latest video “The Real Rogue Nuclear State” is great also: youtube.com/watch?v=KLSlmLx4Fls
FDR vs. Hitler. Both took power 1933 their countries unemployed 25-30%. 6-8 years later Germany rate 2% USA still 20%. Who was better leader? How? Hitler threw off International Bankers. They still hate & vilify him to this day like he had no qualities.
2ndSamuel710 11 months ago
FDR was the best president ever.
Rainmaker1113 11 months ago 3
Narration by Robert Trout
captspock1 1 year ago
@icfireplace na, you must be thinking of cheney.
azul8811 1 year ago
Call me slight of hearing, but what the hell is Alf Landon saying at 0:19? It sounds like total gibberish to me! Made me chuckle. :P
Oh and 0:39 to 1:47 = total ass rape.
Goobelham 1 year ago
The gop strategy is to spend spend bring america close to bankruptcy and then claim we have no choice but to end social security etc and people will fall for it
harj2009 1 year ago
@harj2009 You are confusing the GOP with Democrats. I say this because your only defense in this argument is that Bush did it. Which is a bad argument because most Republicans (true Republicans) don't consider him a traditional conservative. Traditionally they are for smaller government which facilitates the ability to lower taxes without causing a budget deficit. However, since democrats (and Bush) beefed up the Government it is hard to lower taxes without cutting government budget.
OjiveDturkeiU 1 year ago
@OjiveDturkeiU no im not, Republicans could never start cutting all the social programs etc they need an excuse so they will manufacture a crises and use that create a smaller state
harj2009 1 year ago
i'm 12 years old. in 5th grade i went to the fdr meusem for a class trip. ever sence then he was so inspirational to me. i am so obbsessed with him!i go to his meuseum alot more ever sence then. i think what got me so into him is if you think about it he looks like a man you would find now 2011
HannaBlahhhh 1 year ago
How can you make a claim that it is all republicans fault that Social Security, Medicare, and Welfare have fallen through causing entitlement programs that are unfunded? Did you know that in Galvanis, Texas they opted out of Social Security for a privatized form of it and during the current recession they make two times more in SS benefits than those who are on the government provided form. Democrats are too stupid to realize government run anything usually fails or is sub par. Name on good one
OjiveDturkeiU 1 year ago
@nonrepublicrat
The decades following WW2 were marked by unparalleled prosperity. Try to find a severe recession, stock market crash, real estate crash, or banking crisis in the years from the FDR era until 1987. This was under the policies that were created under FDR & the New Deal.
BTW the sour economies of the 1970's were not caused by big govt policies & taxation as Reagan claimed, but by the oil crisis which was precipitated by OPEC cutting the flow of oil out of the Middle East.
mrboffo1 1 year ago
@mrboffo1 I'm sure you are much smarter than Reagan...
OjiveDturkeiU 1 year ago
@OjiveDturkeiU Also, I do not consider it Conservative dogma. I consider what I have learned at my time in college and I have come to certain conclusions such as Democrats and Republicans alike are completely unfit to run the government. BOTH parties are about pursuing their agendas and then letting themselves be run by central banks, war profiteers, and major corporations that seek to curve legislation to create barriers of entry and pseudo monopolies. The past 15 years is evidence of that.
OjiveDturkeiU 1 year ago
@OjiveDturkeiU Agreed. They serve their masters, be it AIPAC, banks, or other corporations. Both parties do it.
IcedEarth426 1 year ago
@nonrepublicrat America was already crippled when he took office....
slimsladey 1 year ago
I am Filipino and my grandfather remembers to this day how FDR betrayed his country...this is not revisionist history but the truth
bennyfifty 1 year ago
FDR also betrayed Filipinos who fought for America...he caused thousands of deaths to American and Filipinos during WWII ...he was a liar and betrayed a great man Gen MacArthur ....why do liberals worship him?
bennyfifty 1 year ago
@bennyfifty MacArthur was totally unprepared for WW II and escaped from the PI to save his own skin. He left 1000s of American troops and civilians behind. He betrayed them absolutely.
Ladyrants 1 year ago
FDR lengthened the Great Depression to at least four times to as long it would have been if we had used free market solutions and non-interventionism.
Armyof9000 1 year ago
@Armyof9000
Right wing propaganda.
We've never seen conservative policies get us out of a Depression. We've only seen them get the U.S. into Depressions.
BTW - the top marginal tax rate during the Reagan recovery of 1984 was 50% - that's more than 10% higher than the top tax rate was under Clinton and 15% higher than it is now.
mrboffo1 1 year ago
@mrboffo1
Left wing propaganda.
The Great Depression was caused by the way Hoover responded to the preceding recession. He used very similar methods to those of FDR.
BTW- what does that have to do with this? at all?
Armyof9000 1 year ago
@Armyof9000
Once again. We have never seen the Republicans get the country out of a Great Depression. The cons have only created them.
Compare the Great Depression to the Long Depression of 1873. There were no government programs like the WPA, TVA or the CCC to put people back to work and that depression lasted 24 years. It did take WW2 to get the country back to high employment, but the improvement in quality of life for Americans can be measured by the fact that FDR was re-elected 3 times.
mrboffo1 1 year ago 2
@Armyof9000
You have conveniently ignored the my point on how the cons have never close to the great acheivemnts of the New Deal & the kind of prosperity that working class Americans enjoyed in the decades following WW2.
Hoover's feeble response to the Republican Great Depression included balancing the budget. This strategy may sound familiar. So his meager stimulus spending was limited to what could be done within his own self imposed restrictions.
mrboffo1 1 year ago 3
@mrboffo1
First off, it is rude of you to assume I am a supporter of the GOP. I am not. However, there was in fact a republican who very well got us out of a recession, his name would be Warren G. Harding. What he did to get us out of the recession? Nothing except cutting spending in 1921. The economy was back in shape by 1929.
By the way, I would like to remind you that after the majority of soldiers were laid off after the war, we were pretty much at the same level of unemployment as in 1939.
Armyof9000 1 year ago
You’re comparing the forgotten recession of '21 to the Depression?
Cutting spending during a recession is proven to be the exact opposite of the proper course. Hoover did it during the recession following the crash of '29 turning it into the Depression. By 1932 unemployment was 29%. Historically, If you look at the times when the top tax rate is cut below 50% it eventually results in a severe recession. Case in point: the current recession, the recession of 1991 & the Great Depression.
mrboffo1 1 year ago 22
@mrboffo1 Huh? Hoover didn't cut spending, he increased spending. His wild spending and increases in government intervention in the economy are what caused the depression.
bartj777 10 months ago
@bartj777
It wasn't wild, stupid. The US federal budget under Hoover was a mere whisper compared to that under the New Deal, WW2, or every year since. Spending rises during every recession, and it doesn't lead to depressions you ignorant fool.
AntiSchiff 10 months ago
@bartj777 weren't the banks unregulated at the time? didn't that have something to do with it?
cloudbuster77 9 months ago
@cloudbuster77 No, the only period where we had relatively free market banking was during the early years of the Independent Treasury System prior to the Civil War. Several Civil War acts instituted national banks and various regulations and eventually in 1913 the Federal Reserve Act was passed, ultimately leading to our current nationalized and centrally regulated banking system after the last vestiges of the Independent Treasury System went away in 1921.
bartj777 9 months ago
@bartj777 i couldn't disagree with you more. we had lax regs until fdr enacted regulations such as glass steagel and a couple other acts. In the late 1800s, the gilded age, we'd have a banking bust every 10 yrs or so due to lack of regs. lack of regs led to the banking crisis in '29, that is why fdr enacted the regs which served us well until clinton rolled over and signed the repubs bills to repeal glass steagel and that other act in 2000. and repeal of those 2 regs led to our recent recession
cloudbuster77 9 months ago
@cloudbuster77 But the facts don't agree with you. Ever since the Civil War we've had ever increasing banking regulations. Plus in 1913 the Federal Reserve was created which is the central banking regulating authority. We'd have a banking bust because of too much regulation. After Jackson defunded the Bank of the United States but before the Civil War regulations, we had the most stable banking system we've ever had with almost no regulations.
bartj777 9 months ago
@bartj777 bart, your "facts" are from the same people that wrote the "fractured fairytales" cartoon series. lack of regs led to the periodic busts of the gilded age and the great depression and the recession we're in now. look at canada and germany, their banks are more highly regulated and canada hasn't had to bail out their banks like we have had to do and germany hasn't suffered nearly as much as we have during this recession.
cloudbuster77 9 months ago
@cloudbuster77 Sorry, but the facts are that banking regulations lead to instability in the financial sector. Ever since the Civil War our regulations have been constantly growing and the economic swings have been getting more common and worse. We clearly need to deregulate the entire financial sector because the government has proven over the last few years that it is completely incapable of managing the economy. This recession was caused by over regulation from the Federal Reserve.
bartj777 9 months ago
@bartj777 Prior to the federal reserve act there were no banking regulations. The panic of 1907 and resulting recession/depression was the cause of the institution of the Federal Reserve. Read "The Panic of 1907" and learn some history. Also "Lords of Finance" a history of the 4 central bankers during the 20's and 30's will illustrate that those who acted and used their powers saved their country from as much suffering and the ideologues who stuck with the gold std plunged thr county into de
enkelin32 8 months ago
@enkelin32 No banking regulations? Are you serious? There were too many banking regulations, that was the problem. Please don't make things up. It's a waste of everyone's time.
bartj777 8 months ago
@bartj777 Then why did FDR have to pass Glass Teagall and FDIC was not until the 1930s as well. NO it is YOU who is making up fantasy bs. If you thing there were banking regulations how about listing them.
enkelin32 8 months ago 2
@enkelin32 Because the regulation cause problems which can only be "cured" by yet more regulations, which cause yet more problems. It never works but only makes things worse. Suckers like you blame the market when it is the interventions that cause the problems.
Listing them? You seriously have never heard of the National Banking Acts from 1863 and 1864? My goodness you are naive.
bartj777 8 months ago
@bartj777 Im really interested in this point of view. How would you stop companies selling investments to consumers that they know are shit but get AAA rated, then betting they will fail using insurers and making lots of money at the consumers expense. My idea is that an the government should be the referee and prevent this, how would you prevent it???
peaco1000 5 months ago
@peaco1000 I wouldn't need to. Why do regular folk make such risky investments instead of just buying CD's at the bank? The government causes this through taxes, inflation and lowering interest rates. Under a gold standard, inflation would be low, interest rates would be higher, and I would get rid of income and capital gains taxes, thus making a plain old CD at your local bank a sufficient method to save for retirement instead of being forced to become speculators on the investment market.
bartj777 5 months ago
@bartj777 The idea is that the consumers do not know that its risky, its AAA rated but its shit. The gold-standard thing is nostalgia bs in my opinion we live in a complicated gobalisaed world, so thats a non-starter.Without income and capital gains tax how would we pay for defense and medicare, which make up such a huge proportion of the budget? (And well over 70% of the country are in favour of them in their current form, you saw the reaction to the Ryan plan).
peaco1000 5 months ago
@peaco1000 Yes, the world is globalized and complicated, that's why a gold standard is necessary. How can entrepreneurs plan in a global economy without a gold standard? Without a gold standard price fluctuations are unpredictable and then you get things like the housing bubble. And consumers know that buying securities is riskier than buying a CD at the bank, but they are forced to become speculators for reasons already given. And we don't need a huge military or medicare.
bartj777 5 months ago
@bartj777 Gold is one commodity in a world of many commodities. Why would you want to peg the whole american economy onto one commodity? Its crazy. The world has changed since the early twentieth century. You are engaging in nostalgia and suedo economics.
Medicare is a program that provides an essential service that is poorly catered for on the market. The market will not insure old people because of their health risks or would charge unaffordable premiums.
peaco1000 5 months ago
@peaco1000 It's clearly much more crazy not to peg the economy to any commodity but to trust the government with the money. Why would anyone not want to peg the economy to something so trustworthy, stable and with such a great track record as gold? The economy is far too complicated for anything but a gold standard. This isn't the stone age, we need a real currency in order to conduct modern business. And without medicare old people would have far better health care at a much cheaper price.
bartj777 5 months ago
@bartj777 OK so there is a mining disaster and people taste for gold declines what happens to the US economy. Come on. I know you libertarians have a hard time with the Fed so thats your underlying motive.
Without medicare would you as an insurance company insure a 70 year old with high blood pressure? You have to accept that capitalism does work and is the only game in town. But it is not perfect and there are distortions that the government needs to deal with.
peaco1000 5 months ago
@peaco1000 It's not just the Fed, but non-backed currency. The government wants to spend but not to tax directly. Fiat currency allows it to do so with the backdoor inflation tax. As for your scenario that's just as silly as some cotton disaster making everyone's taste for US dollars decline.
As for medicare, you are presuming that insurance is necessary. No one says capitalism is perfect, it's just better than government intervention, that's all. The government causes the distortions.
bartj777 5 months ago
@bartj777 aaaaaah now I get it. Medical insurance is not necessary. People should buy it as a prodcut like a washing powder at the supermarket. People who cant afford it die. I now see what kind of society you want to live in. Its quite clear. You know theres not a lot of government internvention in Somalia right now. In fact the government resides outside the country. Perfect.
peaco1000 5 months ago
@peaco1000 No, I don't think you do get it. You assume medical care must be expensive. Also, you do agree that a gold standard and no income or capital gains taxes would take care of your original concern, right? With higher interest rates, no inflation and no taxes, regular people wouldn't need to become speculators and buy securities, would they?
bartj777 5 months ago
@bartj777 Please tell me how a low income hard-working american would get the medical treatment they need in older age under your system? How could you get no inflation when interest rates are high? How can you get a military or courts without taxes? This is a crackpot theory which rightfully belongs on the obscure margins of economic theory. I bet you are supply-sider too and believe Hitler was a lefty.
peaco1000 5 months ago
@peaco1000 Why would high interest rates cause inflation? inflation is caused by the supply of money and the velocity of money. If anything higher interest rates would lower inflation. You keep assuming medical treatment is supposed to be expensive. If it was affordable would you still worry about it? How did the government pay for the military and courts before the 16th amendment? I hate when ignorant people act like they can dismiss other's idea when they are so clueless about the world.
bartj777 5 months ago
@bartj777 OK so you want to gamble the stability of the US economy on the performance of one commodity,I am happy to delegate monetary policy to the Fed which I think has strong incentive to create sensible monetary policy
Of course medical treatment is expensive.Being a doctor is a highly skilled job, producing drugs that have been researched and tested is capital intensive.Health is therefore an expensive commodity especially as it needs to be continuous purchased.How could it be otherwise?
peaco1000 5 months ago
@peaco1000 Considering gold has stood the test of the market over thousands of years, and it was under the gold standard that the industrial revolution took place, it isn't much of a gamble. As for the Fed, what motivation does it have not to steal from the people via inflation? None.
Deregulate and unsubsidize health care and watch the price plummet as the market regulations take over. You're so afraid of the worst happening that you prevent the best from happening.
bartj777 5 months ago
@bartj777 Are you smoking crack, or are you stoooopid without any drug addiction excuse?
tuadolcefanciulla 5 months ago
@bartj777 So there is no incentive for the Fed to keep inflation under control so that people have higher real wages and the country is more prosperous? I think you're in conspiracy theory territory.
With deregulated and unsubsidized health care, doctors would be paid the same wage, drugs would cost the same, medical equipment would cost the same. The difference is that many working people would not afford it and die. Not to mention discrimination due to pre-existing conditions. Bleak.
peaco1000 5 months ago
@peaco1000 Conspiracy theory? Are you kidding? That's the economic theory Bernanke follows--Keynesianism. Have you never read his General Theory?
Deregulation causes prices to go down. Look at the airline industry, trucking and energy. Regulation causes prices to go up. Look at the railroad industry, higher education and the medical industry.
Prices always go down in a free market. Just look at history. Regulation causes poorer quality with higher cost. You are killing people.
bartj777 5 months ago
@bartj777 You think that the Fed are stealing from people instead of trying to maintain stable prices and wages.I believe that is a conspriracy theory.
Regulation protects against externalities. For example, ensuring that corners are not cut when oil rigs are errected in the Gulf or that CDS that are worthless are not given AAA ratings and then bet against.
Your homework is to look up 'externalities', 'moral hazzard' and 'assymetrical information'. This is why regulation is needed.
peaco1000 5 months ago
@peaco1000 Umm, the purpose of the Fed is to steal from people by intentionally lowering wages through inflation to decrease unemployment. Look it up. Haven't you read Keynes?
You need to look up externalities, moral hazard and asymmetrical information and get back to me when you understand them. The purpose of government controls is to eliminate market regulations so that businesses can get away with things. Don't be naive. Of course regulations are needed: market regulations.
bartj777 5 months ago
@bartj777 Yes I have read Keynes's 'General Theory...', Ive read Friedman 'Cpaitalism and Freedom' and Hayek's 'Road to Serfdom'. Keynes addresses economies that lack demand (which you would probably believe is impossible) where the government compensates for lack of demand by spending on large projects that induce demand and confidence as well as cutting tax.
Markets dont regulate themselves. Self-interest has to be restrained to reduce externalities and moral hazzard. Do you like Smith?
peaco1000 5 months ago
@peaco1000 No, you haven't read any of those, so quit boasting. If you had then you would know that's exactly what Keynes proposes to "solve" sticky wages--lower them through inflation.
Economies don't lack demand, Says Law. QED
Markets do regulate themselves because they restrain self-interest and prevent externalities and moral hazard. Government regulation is what allows externalities to persist. Government regulation is what creates moral hazard. Don't be naive.
bartj777 5 months ago
@bartj777 OK I (and the vast majority of economists) do not believe that supply creates its won demand. When confidence is low and consumers and investors dont want to risk capital, you can have as much supply as you want, people will hoard capital (as corporations are now). The paradox of Thrift comes into play. As we disagree on Say's law we not agree about much.
Even Smith acknowledges government have to regulate markets. Intellectual property rights, health and saftey standards, environment
peaco1000 5 months ago
@peaco1000 And the vast majority of economists failed to predict the recession from the housing bubble. The ones who got it right understand that Says Law stands unchallenged. The paradox of thrift is a myth, as proven by Hayek. Even Smith? Goodness you are out of touch. You have NOT read Hayek if you think Smith is some sort of giant to me. The government does not regulate but manipulates markets. All government has to do is protect property rights and the markets will regulate the rest.
bartj777 5 months ago
@mrboffo1 What do you think is the proper action that should be taken?
leoellion 8 months ago
@Armyof9000
It is also important to note that the top marginal tax rate in 1920 - 1921 was 73%. The tax cut of 1922 cut the rate to 58% - Still a very high tax rate. This was the tax rate during the recovery. My point is that big cuts in the top rate result in short term booms followed by gigantic recessions.
mrboffo1 1 year ago 27
@mrboffo1 I think it seems to be a trait of unregulated capitalism in general: immediate success followed by the bottom falling out. The trend seems to be that capitalism results in short-lived prosperity, then socialistic regulation needs to dig us back out.
RedSandStudios 11 months ago
@mrboffo1 in the 1920s we had unregulated banks like the last 2 decades and we saw that worked out. The top marginal tax rate during repub eisehnower's admin was 91% and look how the country was going gangbusters during that time. it was a time that saw the middle class expand greatly. Reagen cut taxes on the rich bigtime and boom, up goes the defecit and we've been stuck w/em ever since save clinton's tenure. did W's record tax cuts bring ultra low unemployment? umm, no, rather hi unemployment
cloudbuster77 9 months ago
@mrboffo1 Oh and you are wrong on this one
OjiveDturkeiU 1 year ago
I like watching all of you Democrats celebrate FDR's massive spending and governmental programs. I guess you guys like celebrating over a decade of high unemployment due to his policies..
Yep, same thing then, same thing now.. History repeats itself.. Well done!!
pghquest 1 year ago
@pghquest Thank you for the revisionist history lesson.
xexixk 1 year ago
@xexixk That isn't revisionist, private sector unemployment remained very high until Truman came over.
bonfirejovi 1 year ago
@bonfirejovi I'd never say FDR was perfect, no president was perfect. Many had good aspects but also bad aspects. That said, I think I would have taken FDR over Hoover.
xexixk 1 year ago
@pghquest Snort. Look into the history of Harding, Coolidge, and Hoover, then give the informed a lecture on FDR. Hoover, the tea partier of 1929.
Ladyrants 1 year ago
@pghquest Well the Great Depression what I like to call the American "Lost Decade". All that spending and what did we get? Just a bloated government and enormous debt.
The sooner people realize this, the sooner we can avoid another government take over of the country. and vote out Obama
1RedshirtXLG 1 year ago
@pghquest
We are currently historically low tax rates - the Bush tax rates which the Republican want to extend. These rates didn't create many jobs when the economy was growing. Why should we expect it now?
The U.S. has never had a strong economic recovery under a tax rate this low.
mrboffo1 1 year ago
@pghquest
Government spending creates jobs when it's directed in the right direction. Next time Congress has hearings on base closings, watch the cons line up with the Dems to keep those bases open. The Pentagon has long list of about 200 bases across the country that they don't want or need, but they can't close them down because it would destroy the towns that have grown up around them. This is SOCIALISM & people from those states love it!
Most of these bases were opened under FDR in WWII.
mrboffo1 1 year ago
@mrboffo1 Cutting taxes also creates jobs. Take an Economics class.
OjiveDturkeiU 1 year ago
@OjiveDturkeiU
According to conservative dogma, low taxes on the rich is what unleashes private sector job creation.
We have historically low taxes right now. These tax rates have been in place for 9 years. Last quarter, U.S. corporations earned more money than in any other quarter in U.S. history and those corporations are currently sitting on more cash than at any other time in history.
Where are the jobs?
mrboffo1 1 year ago
@mrboffo1 "Where are the jobs?" Wait some months
xaviqaz 11 months ago
65 Years later they are still trying to beat this guy. He had them pegged then and his defense is still standing WELL OVER TIME.
Democrats...his method was to mock them. The truth in his mockery is why he was so popular. Try it sometimes if you want to win ;)
They make great mockery. *Almost too easy*
TheFunnyQQ 1 year ago
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TheFunnyQQ 1 year ago
His foriegn policy was pretty kick ass.
Anyone that can have an affair from a wheel chair is a pretty cool guy in my book.
EggsLikesBancakes 1 year ago
Don't be discouraged. Those comments below are by people paid by the darkest part of the republican party to try and rewrite history. We all know that America was blessed by the superb leadership of FDR. The multinational corporations have hired people to go on websites like this to post these comments as way to to discourage you. If you don't believe me, wait for the reaction to this post. They are watching.
GolfDeBell 1 year ago
@GolfDeBell Wow you are a loon and a conspiracy theorist. FDR did a lot of good but also did bad. The man was not perfect.
bonfirejovi 1 year ago
@GolfDeBell you're comment is very very funny. you have a quite an imagination.
nonrepublicrat 1 year ago
I was going to post here, but after looking down I choose not to be in the company of so many myopic and stupid people......FDR had more character than we had ever had before that point.
MAGUMNURSIS 1 year ago
Too bad Americans didn't elect Landon instead of this vile piece of ship FDR.
ShaytanBozorg 1 year ago
so weak
pathetic and useless thisman
Adeebster 1 year ago
I'd have respect for him if he didn't steal the gold of the american people, destroy livestock and crops while people starved, made it impossible for small businesses to compete against big businesses with price controls, provoke Japan into attacking the United states by supporting China, or kill millions of Japanese and German Civilians.
Fuck FDR, If there's a god and he loves us, I'm sure he's burning in hell.
migkillertwo 1 year ago
FDR, a war mongerer. He's enjoying his place in hell.
Nationalist1912 1 year ago
It seems in the world we live in is more like 1984 then anyone had ever imagined. Left is right, up is down, good is bad, criminals are ok, patriots are defamed. Our establishment called the Federal Government, has been absolutely slaughtered by the Progressive movement and it is our job to figure out how. The establishment loved FDR, he was a puppet for the bankers, just like Obama and the rest of em since 1913
Glenn666 1 year ago
We need another FDR. A true leader.
mr19932001 1 year ago
FDR is probably the biggest puppet president America have had before Obama.
FDR - Fucking Douche Rim-Job
AlexNOSAM 1 year ago
@AlexNOSAM
Roosevelt was such a bad president that he was elected 4 times.
But seriously, just look at the period following WW2. From the end of the Great Depression until the oil crisis of the 1970's there were no severe recessions, no stock market/real estate crashes and no banking crises. But it wasn't until Reagan's disastrous 1987 tax cut which lowered the top tax rate to 28% for the first time since '31 that we returned to the boom / bust / bailout cycles of "Depression Economics".
mrboffo1 1 year ago
@mrboffo1 He was "elected" four times with the powerful influence of his lobbiests which eventually managed to bend the law and get him a 3rd term. This was a vividly clear example that even in the 30s the US was already in the grip of a few very powerful individuals.
AlexNOSAM 1 year ago
@AlexNOSAM
That's even more idiotic than your first comment. It wasn't against the law to run for a 3rd term in 1940. The 22nd Amendment, which limited a president to 2 terms, was not ratified until 1951. If FDR did have "lobbiests" they wouldn't need to bend the law to get him a 3rd term. The people voted for him to a 3rd term because he led the nation out of the grips of the Republican Great Depression.
FDR's policies created the greatest economy in the history of the world after WW2.
mrboffo1 1 year ago
@mrboffo1 - so the solution is constant tax hikes and increased transfer of capital to the government to kick the can down the road a little further? What happens when government consumption reaches 100% of GDP? If you rob a man and then use the money to pay his salary the next day, his wealth does not grow. Even a 2004 study by the UCLA (not exactly a bulwark of conservative thought) Economics Department blamed FDR's policies for extending the Great Depression by 7 years.
muridsilat 1 year ago
@muridsilat
Name one strong economic recovery that has occurred in the last 100 years when we have had a top marginal tax rate as low as it is now with the Bush era tax rates.
It has never happened.
The lowest recorded unemployment rate in history (since we have been keeping track), was in 1953 when the top marginal tax rate was 91%. The highest unemployment rate in history was in the years following the lowest tax rates in the last 100 years, in 1929 when the top rate was 24%.
mrboffo1 1 year ago
@mrboffo1 then i suggest you give 91% of your money to big brother.
nonrepublicrat 1 year ago
This has been flagged as spam show
@nonrepublicrat
I suggest that you take a course in economics.
mrboffo1 1 year ago
@muridsilat
continued from earlier post:
That lowest unemployment rate in history was 2.5%.
BTW the 91% top marginal tax rate was under a progressive tax rate.
It occurs to me that the concept of a top marginal tax rate is a sticking point with many chronically misinformed conservatives & this needs to be explained. A progressive tax is a tax by which the tax rate increases as the taxable base amount increases. So the 91% rate was only on income earned after $400k, a lot of money in 1953.
mrboffo1 1 year ago
@mrboffo1 - Many measures of economic strength focus on spending and employment. That would seem reasonable, but it doesn't account for the fact that real wealth is in valuable goods and services, not paper money. If people are employed doing unnecessary things for the government (say digging holes and filling them in), they make money and they are employed, but society has no more real wealth to show for its efforts. We could all quit our jobs, play Monopoly, and claim to have a strong economy.
muridsilat 1 year ago
@muridsilat
Government spending can help during a recession, but government spending alone isn't necessarily the answer. A certain level of taxation has been proven to give incentive for large businesses to reinvest more of their pre-tax dollars, rather than pay them to the government in income tax.
Also, cons are fond of saying that it was WW2 that got the US out the Depression. WW2 was essentially a command economy driven by massive spending with the highest tax rates of the 20th Century.
mrboffo1 1 year ago
@mrboffo1 - I would agree that war did not end the Depression. War is never good for the economy (broken window fallacy), but I'm not sure I understand why you would be in agreement. Aren't you saying that a command economy with massive spending and high taxes is good? What's the difference whether it's war or some bureaucracy?
What got us out of the Depression is when businesses felt comfortable that there would be no more "New Deals", the war ended, and spending was finally reduced.
muridsilat 1 year ago
Hear that, millions of americans VICTIMS of a depression!
Funny when today anyone who's on the street through no fault of their own, having applied to everything for the past 2 years with no success could be called lazy and a loser.
Renegen1 1 year ago
FDR was one of the greatest enemies this nation has ever known. His contempt for the Constitution and for individual liberty set the stage for eventual totalitarianism (for which we are clearly headed). His hatred of our founding principles gave him justification for imprisoning 100 thousand Japanese Americans based on ethnicity alone. This precedent was never overturned and is similar to the arguments of Bush and Obama in supporting unconstitutional provisions of "The Patriot Act".
muridsilat 1 year ago
@muridsilat dude what the hell are you talking about.He was the best president we ever had
nevillegermany1993 1 year ago
@nevillegermany1993
Goddam right. I love JFK, but Franklin Roosevelt is #1.
mrboffo1 1 year ago
@mrboffo1 you are right. FDR Best president
nevillegermany1993 1 year ago
@muridsilat
Nobody's perfect. Internment camps were a disgrace, but on economics he is the greatest president in U.S. history, bar none. See my comments @AlexNOSAM above.
Questions, comments?
mrboffo1 1 year ago
FDR is one of my favorite president.
snowwolf7777 1 year ago
@snowwolf7777 That's because you are probably a dirty socialist or Obama supporter.
teapartyman 1 year ago
@teapartyman most tea party are run by little girls
snowwolf7777 1 year ago
FDR comanda
mafiafdr 1 year ago
Ron Paul 2012
and read Thomas Flemings book "The New Dealers War"
RunLiberty 1 year ago
FDR had secret closed door meetings with industry leaders to institute price control on everything. Big business was afraid of the falling prices hurting their profits. The result? The people couldn't afford to buy the products and services, so the Depression lingered and lingered. FOR 13 YEARS!!!!! Americans really ARE stupid, collectively.
buisyman 1 year ago
Wow, sounds just like today.
emceay 1 year ago
It's to sad his policies will be the ones responsible for destroying america in the end.
thebestsumoeva 1 year ago 2
We need an FDR now
cosmicforums 1 year ago
This has been flagged as spam show
@cosmicforums Be careful what you wish for...
thebestsumoeva 1 year ago
@cosmicforums You have one, His name is Obama, enjoy! Until Nov 2012, when we kick his socialist ass out.
bookhound63 1 year ago
@bookhound63 Obama is NO FDR, and if you thin Obama is a socialist..LMFAO..then you dont know shit about socialism or capitalism. But what are you tea baggers doing here? Shouldnt you be taking the revised history classes at glen becks online diploma mill...er...I mean college?
cosmicforums 1 year ago
@cosmicforums We don't diss Lincoln. What planet are you from? We love Lincoln, and Reagan. And if you call reading the actual words the founding fathers wrote "revised history" then you are seriously deluded. What better way to learn what they were actually thinking than to read their words, rather than words someone wrote about them 200 years later.
bookhound63 1 year ago 2
@cosmicforums We've got one, that is the Problem. Bush is Hoover and Obama is FDR.
TwiztedAnimator 1 year ago
@TwiztedAnimator - Obama is NOt FDR..lol..not even close.
cosmicforums 1 year ago
Reagan, ruined commercial aviation, passenger rail service, banking . His neo-con followers have nearly caused a world-wide depression by essentially removing "excessive greed" from the list of bad things, allowed oil to flow freely in the Gulf through a systematic dismantling of most regulations and regulatory agencies, encouraged huge corporations to play a large role in electing our officials. 4. created the greatest gap between the "haves" and the "have-nots" since the '30s.
MrInformedvoter 1 year ago 2
FDR Kicked Hitler's and Mussolini's asses and was the one who authorized the Manhattan Project and understood how important it was (a) the Germans *not* get one and (b) to get one built ASAP. Maybe he wasn't the greatest President but there is no denying how important he was to the USA and the World.
ReadmanJ 1 year ago
FDR's "Smoot-Hawley" Tarrif Act and the New (fascist) Deal kept America mired in a depression for a decade.
Liberal's response to it: Happiness.
Thankfully, upon the dictator's death, which was the only way he would ever leave office, almost all of his fascist mandates were ruled unconstitutional by the US Supreme Court, and were terminated.
TheAntiLeft 1 year ago 2
yeah FDR, the big thief, ehhh a big chief. Tax, coercion and war, that is what we need. As long as they are accompanied with the right words, a glut of bloodshed and destruction does wonders for the economy.
modelmark 1 year ago
We need FDR!
896367453 1 year ago
wow politics back then explained by politicians, how could I NOT take this for it's face value? Statistics? Naw, who needs em. Facts? Those are stupid too. Speeches from political opponents? Now there's some real swaying evidence :D
xdrslash 1 year ago
great piece of history :)
nurula007 1 year ago
What a great video on the eve of the new new deal ... ty friend.
Buddybud69 1 year ago
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dan0813 1 year ago
In 1941, changes were made to both rates and base. Higher tax rates were adopted and lower exemptions were allowed, thus expanding the base. Higher tax rates were adopted again in 1942. With the inclusion of a surtax, tax rates ranged from 13 percent on the first $2000 of taxable income to 82 percent on taxable income in excess of $200,000.
Individual tax rates were reduced from wartime highs, and the tax base began to narrow with the adoption of exemptions, deductions, and credits.
bribomcbainjr 1 year ago
atleast he was not a dictator.
anybody with 4 terms these days easily take advantage of that such as chavez is doing . lucky for us we limited the reelection to one time or else who knows what georgie porgie would of done to us
sps081208 1 year ago
FDR was actually the closest thing to a dictator we had. Read up on him. He set the price of gold irresponsibly...he couldn't run a business for the life of him. He was not who he seemed to be behind closed doors. FDR was a sorry human being.
bribomcbainjr 1 year ago
so basically you are saying he was the closest thing to hitler?
geez i think you should read up buddy.
FDR was prez fpr a decade or so and the country went out of a recession during his time and has never lost its democracy.
look at chavez in venezuela after decade what it has become (almost communist) or hitler in a decade(fascist).
marengo08 1 year ago