Friday, June 11, 2010

Democrats Bringing On Modern Great Depression

How many times have I said we are making the same mistakes of the Great Depression, the same policy mistakes - protectionism, raising taxes on nearly every type of business activity, regulating massive swaths of the economy??? How many times. Well now the similarities are getting just downright eerie as well as scary. It is as if the Democrats are reading the history of the Great Depression and doing every single thing that deepened the Great Depression again, on purpose. Today's Democrats have resurrected FDR's undistributed profits tax that was one of the primary causes of the second dip post 1936 that made what was then a short recession into the Great Depression. The second was the FDR's National Recovery Act, which today comes in the form of ObamaCare, Financial Reform, and Cap and Trade. If we get our new, modern version of the undistributed profits tax and financial reform, I say Great Depression II (2007-2014) is a done deal. A done deal. Don't say you weren't warned.

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