@sLugf3st While true, you're leaving out the part where he cut taxes first. The highest marginal rates were around 70%, which he cut to 28% or something along those lines. He then raised it bc revenues shrunk dramatically, and expenses increased dramatically. The result was him cutting and raising taxes (as a % of the initial rate) by the most in history. He only raised them into the 30%'s which is around where they are today.
have happened. A lot of people believe that the big banks restricted the money supply on purpose to get rid of the competition-smaller banks. Aggregate demand is not the cause of recessions. Recessions always start in the capital goods sectors. We had a huge recession in 1921 that was worse than the great depression, the government did nothing and it only lasted 1 year. Paul Volcker did shrink the money supply, interest rates went to 20%.
@bumzo Reagan cut spending but lowered taxes more so he did run deficit in the beginning. Government revenue almost doubled by the time he left office. The most important thing to take from this video is the inflation in the 70s in Europe and America, reagna thatcher. The thing that Keynes pointed out was that you cant restrict the money supply after you've started to inflate. No one ever points this out but if we didn't have the roaring 1920s then the great depression wouldnt......con
@sLugf3st While true, you're leaving out the part where he cut taxes first. The highest marginal rates were around 70%, which he cut to 28% or something along those lines. He then raised it bc revenues shrunk dramatically, and expenses increased dramatically. The result was him cutting and raising taxes (as a % of the initial rate) by the most in history. He only raised them into the 30%'s which is around where they are today.
MrPublius1776 1 day ago
Hell Yes!!
NeoShade69 5 days ago
@bumzo FACT: He raised taxes by 3 times and expanded government by 9 times. Get your facts straight.
sLugf3st 1 week ago
@tadaa11 ...Con
have happened. A lot of people believe that the big banks restricted the money supply on purpose to get rid of the competition-smaller banks. Aggregate demand is not the cause of recessions. Recessions always start in the capital goods sectors. We had a huge recession in 1921 that was worse than the great depression, the government did nothing and it only lasted 1 year. Paul Volcker did shrink the money supply, interest rates went to 20%.
tadaa11 3 weeks ago
@bumzo Reagan cut spending but lowered taxes more so he did run deficit in the beginning. Government revenue almost doubled by the time he left office. The most important thing to take from this video is the inflation in the 70s in Europe and America, reagna thatcher. The thing that Keynes pointed out was that you cant restrict the money supply after you've started to inflate. No one ever points this out but if we didn't have the roaring 1920s then the great depression wouldnt......con
tadaa11 3 weeks ago
Albania and the United Kingdom......Albania...... LOL
jymer2000 1 month ago 2
@bumzo Explain the German economic miracle after WWII then.
soapbxprod 1 month ago
@BillHicks420 Norway is a tiny nation with a tiny population and an abundance of natural resources. Not comparable to the US.
soapbxprod 1 month ago
@bumzo Reising rates DOES shrink the money supply. I lived through it- entered the work force in 1982.
soapbxprod 1 month ago
@bumzo "Printing money"? In quotes? What about Baskets of money to go shopping with?
soapbxprod 1 month ago