Tag Archives: New Deal

Don’t Tax the Rich…

before you at least stop subsidizing them. Lawmakers are currently planning to cut farm subsidies, and then “in the same breath”, are arguing to send those savings right back to the farmers.

American farm subsidies are a shame and a disgrace.  According to the Times report, Farm households earn substantially more than other Americans; large farmers, who get the most from subsidy programs, make more than $200,000 a year.

If senators can’t bring themselves to slash programs like these, and are dishonest enough to try to cover their tracks, there are a lot of incumbents in both parties who need to be sent home in disgrace.

These subsidies have been buying corruption, dependency and obesity since the New Deal. If our lawmakers had even minimal traces of principle and economic literacy such farm programs would have gone away long ago. Those programs are here to stay.

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Filed under Economics, Economy

The Worst Obstructionism Since Hoover

Megan McArdle writing on her talk with David Kennedy, author of Freedom from Fear: The American People in Depression and War, 1929-1945. 
One of the things we talked about was the obstruction that Obama has faced.  And it turns out there was a very good parallel: the Democratic Congress that Hoover had to contend with.  By the last year of his term, Hoover had a Democratic majority in control of congress.  And according to Kennedy, they used their power to the hilt.
“Hoover also faced a very obstructionist Democratic Congress–they understood, as these guys do today, that if they just go in the middle of the road and refused to move, that would benefit them at the next election.  And it paid off.”
The myth of Hoover’s inaction in the face of the Great Depression was thus partially a product of the opposition party that greatly benefited from its propagation.

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Filed under Domestic Politics, Economics