Posted by
Peppermint2 on Saturday, October 04, 2008 9:39:16 PM
For those who watched the Asman Report on Fox tonight at 8pm, “Saving Our Economy:
What’$ Next?, you already know what was in the content.
For those that didn’t watch it, there was one salient point made that I found extremely important.
After the crash of the stock market, the financial crisis lasted for years. Why, asked
David Asman to an expert of this very subject, a woman whose name escapes me at the moment, wrote a book called “The Forgotten Men”, about the Great Depression that began after the fall of the stock market.
According to her, Roosevelt imposed more and more high taxes on businesses, which, rather than pay the taxes, closed their doors. Thus rampant unemployment at 20% arose and the depression actually went on until 1954.
This point seems very important to me. Why? Because this is exactly what Barack Obama plans to do, raise taxes on businesses. How many businesses will close their doors this time and unemployment will rise? Will Barack Obama’s plan to raise taxes on businesses cause the next Great Depression?