Sdgrrl you wound me with your aspersions. What makes you think I am not Jewish? Do you think all Jews are liberal, Democrat, socialist or left wing professors. Can’t some of us be freedom loving Libertarians? Allan thanks for always supporting facts over fantasy. flu, thanks for a great string of laughs, but I have to use Hitler instead of Marx because it will not work with Marx: What is the difference between Hitler and Obama? Hitler was a Christian. I think he also had a birth certificate, although it was always rumored that he had some skeletons in his closet.
I am adding a link to a discussion of the mistakes that Hoover made that destroyed the struggling economy because I think Obama is contemplating the same policy. This shows why he keeps his transcripts private: he did not do well in U.S. History. Welcome to 1932. http://www.econlib.org/library/Enc/GreatDepression.html
“Hoover’s fiscal policy accelerated the decline. In December 1929, as a means of demonstrating the administration’s faith in the economy, Hoover had reduced all 1929 income tax rates by 1 percent because of the continuing budget surpluses. By 1930 the surplus had turned into a deficit that grew rapidly as the economy contracted. By the end of 1931 Hoover had decided to recommend a large tax increase in an attempt to balance the budget; Congress approved the tax increase in 1932. Personal exemptions were reduced sharply to increase the number of taxpayers, and rates were sharply increased. The lowest marginal rate rose from 1.125 percent to 4.0 percent, and the top marginal rate rose from 25 percent on taxable income in excess of $100,000 to 63 percent on taxable income in excess of $1 million as the rates were made much more progressive. We now understand that such a huge tax increase does not promote recovery during a contraction. By reducing households’ disposable income, it led to a reduction in household spending and a further contraction in economic activity.”