Weblog Commenting and Trackback by HaloScan.com The Barnyard: Obama's New Old Deal

Tuesday, December 16, 2008

Obama's New Old Deal

There is lots of talk of a type of "New Deal" similar to FDR's to get our struggling economy going again and Obama is reading up on Roosevelt's first 100 days for ideas. The fact is Roosevelt's meddling and Keynsian tactics worsened the Depression and prolonged it, admittedly Hoover's bungling that started it didn't help much. Obama should read Amity Shlaes' book "The Forgotten Man" to find out just how bad FDR's policies made things. The "New Deal" did not end the Depression, WWII did. A government cannot spend itself into massive debt to end a recession without making things worse and that has been proven time and time again by history. From Reason TV via InstaGlenn with a few pertinent facts.

The best way to jumpstart the economy is to slash corporate and capital gains taxes across the board to encourage new investment by private enterprise not through government spending. Every dollar the government spends has to come out of the economy first, dollars that are best left in the hands of individuals and businesses to invest as they see fit without layers of kleptocratic bureaucracies getting in the way.

1 comment:

The Griper said...

that is one thing i never understood, why give tax dollars out when you can do the same thing by tax cuts? why pay the costs of the middleman when you don't have to?