Barack Obama - Great Depression

Barack Obama and Herbert Hoover will have something in common. They will have raised taxes in the middle of a global recession. Exactly what Herbert Hoover did in 1930 that sent America and the rest of the world into a bleak couple of decades. If you raise taxes on businesses they in turn cuts jobs and increase the price of their products. People lose jobs and the cost of living goes up. Wikipedia has a great summary of the causes and effects of the Great Depression, check the facts!

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[MACKATTACK1970]

McInsane WILL lower taxes for the top 1% the ultra rich.

If you belong in that group please vote for McCain.

If you have a net worth over $50,000,000 and earn more than $5,000,000 per year you should vote for McCrazy.

[BlackRepublicClub]

40% of Baracks 95% don't pay income taxes, it isn't a tax cut, it's an expansion of Welfare.

Raising business and corporate tax rates force businesses to raise the price of their products, cut jobs, and therefore create the vicious cycle that spawned the Great Depression. The tax increases raised unemployment from 5% in 1929 to 25.1% in 1937, and wages decreased by 50%.

[MsSmoopy]

It started all so good until I saw John McCain :(

[ricknbalt]

OMG - Really? What a bunch of Cramp! I don't want to live in a country where the concentration of power only lays in the hands of the Rich. To me that would make everyone who is not rich nothing but a SLAVE to the Rich!

[LIBERTYTREE98]

Protectionist tariffs are one reason why our nation became an industrial power.Free

trade is eviscerating our manufacturing base.Raising income taxes and raising

capital gains taxes will hurt our economy,but raising tariffs could help rebuild our

manufacturing base and help pay off our national debt.

[Bronzecop]

@EDLTV I know right, the College Reform Obama made created more jobs for the average man than Bush's 8 years altogether.

[EDLTV]

@SpaceAceTX Your comment is now laughable considering the amount of criticism Obama gets from the left for not being liberal enough.

You people just make up a reality and dont care about facts.

[SpaceAceTX]

The difference is people spoke out against what was clearly a bad decision.

They were actually concerned for the nation, they were proud to live here and embraced the red white & blue

Fast forward to today:

Obama can do no wrong, if something is wrong is was Bush's fault (or someone, anyone but obama)

The media pushed for this idiot now he's falling flat going back on promises and spending money like there's no tomorrow.

All the big networks will continue to kiss ass though he's their boy

[exenrontexas]

I also suggest that you research who was behind the fascist assasination plot against FDR and why. Many US corporations supported what was happening in Europe in the '30s. The plotters were JP Morgan (the richest man in the world at the time), Remington, DuPont and Goodyear families (war profiteers) and the head of Brown Brothers bank, Prescott BUSH. View Butler's testimony on youtube and read his book "War is a Racket". War is what CAUSED this mess. Read Ike's views about the value of war.

[exenrontexas]

Google PBS "Brother can you spare a billion" to get the true story. It is about Jeese Jones the Texas banker who FDR tapped to get the US out of depression.

He required any corporation getting Federal funds to be part of their communities and see the effects of their decisions. THe problem was NEVER caused by the PEOPLE of America but by corporate management, but ONLY the PEOPLE suffered from it. He brought WISDOM and COMPASSION to banking. NOT something in abundance today. NOT with Hoover.

[groberts0429]

Why don't you just check out what was said to see whether or not it is contrary to the historical record. Google it.

If it was regulation that ended the Great Depression, it took a long time to take effect, the Great Depression ended between 5 and 10 years after he took office (historians differ on that subject). Obama's Chair of the Council of Economic Affairs believes that securities regulations did nothing to make the market of the 1950's less turbulent.

Just bringing new facts to the table