As I have written before on The Liberty Sphere, the notion that a tax increase should be levied against the wealthy in hard economic times is a serious flaw doomed for failure. None other than Herbert Hoover attempted this policy initiative in 1932 during one of the nation's most severe recessions.
The result was that a severe recession turned into the Great Depression within a matter of a few short months.
And this is my topic of discussion today at Columbia Conservative Examiner.
Yesterday's article created quite a stir among those who apparently have a very fuzzy view of history. In today's article I attempt to correct such thinking by providing the facts from the era.
Once again, I urge you to read it and pass it along to everyone you can think of. And thanks!
Thursday, February 26, 2009
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