In the years before 1932, depressions or recessions were known as panics. Most panics did not last beyond two years. According to the economists and economics historians, this is due to the fact that the government cut spending and cut taxes on business.
This is a simple historical fact. Getting out of the way of business and personal spending has been a recipe that has been successful many times in the 20th century as well as prior to the 20th century.
Some of the amazing historical facts that people have not put together with each other even though the pattern forms right before their eyes, is the idea that raising taxes on anyone takes that money out of the economy, and that cutting taxes AND cutting spending (to EXCEED tax cuts) will not only increase Federal revenue as money comes out of hiding, but reduce the debt by not having deficit spending.
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