Roosevelt: His Bankrupt Policies

[Statistikhengst]

Here is what the WPA did south from the Blue Ridge Parkway.

the WPA took money from one side of the pool and used it to fill up the other side but as a typical brain dead liberal you lack the IQ to see both sides of the pool and so lack the IQ to understand why FDR's administration was the Great Depression.

Keep working on that batshit-craziness. One day, a loser somewhere will believe you.



Gesendet von meinem GT-I9515 mit Tapatalk

translation: As a typical liberal I lack the IQ for substance and so find name calling meaningful.

No. I just recognize a batshit crazy Rightie from miles and miles away.

Carry on. You are entertaining when you are ranting and screeding a lying right out your fat ass!

 

[Camp]

Here is what the WPA did south from the Blue Ridge Parkway.

the WPA took money from one side of the pool and used it to fill up the other side but as a typical brain dead liberal you lack the IQ to see both sides of the pool and so lack the IQ to understand why FDR's administration was the Great Depression.

Shut up you fool. I told you to come prepared. I told you to look up Glass-Steagall and FERA and educate yourself. If you had listened to me you would know I was guiding you to an education about how a billion dollars in gold and silver reserves were used as collateral for funds to be loaned to the the individual states for WPA projects.

It wasn't that stupid transfer of water in a pool from one side to the other that you seem obsessed with using as a dumb example. Nor was it some tax scheme like you imagined that robbed Peter to pay Paul. FDR looked across the landscape and saw empty pools (states). He made arrangement to borrow water with the gold and silver reserves (money) and filled up the pools (states) with water(money) with the agreement that when the pools (states) were able to get water on their own, they would return the borrowed water (money), which is what they did. The gold and silver never had to be used to pay for defaulted loans.

Easy enough for a simpleton to understand but truth is not your goal. Your goal is to stubbornly cling to the crap you have been brainwashed with. You can not bring yourself to admit that FDR came up with a brilliant plan to finance rescue of citizens and the American economy in the middle of a world wide depression. Your only valid criticism should be the one made at the time, that his plan wasn't brilliant, he simply gambled with the nations gold and silver reserves, but since it all worked out, that has become a rather meaningless criticism.

 

[regent]

The money wasn't taken away. I know where it came from, you don't.

100% stupid and liberal as a always. Federal spending comes from taxing, borrowing, and printing. Either way soviet liberal turn bureaucrats are guessing where to best spend our money and always making mistakes thus depressing or recessing the economy.

Do you understand now?

So what system, taxing, borrowing, or printing did the Democratic president, Jackson, use to pay off the national debt?

 

[EdwardBaiamonte]

a billion dollars in gold and silver reserves were used as collateral for funds to be loaned to the the individual states for WPA projects.

It wasn't that stupid transfer of water in a pool from one side to the other.

Stupid liberal pretending there is magic money for govt welfare entitlements and nobody has to pay for them.

New Deal programs were financed by tripling federal taxes from $1.6 billion in 1933 to $5.3 billion in 1940. Excise taxes, personal income taxes, inheritance taxes, corporate income taxes, holding company taxes and so-called “excess profits” taxes all went up.

The most important source of New Deal revenue were excise taxes levied on alcoholic beverages, cigarettes, matches, candy, chewing gum, margarine, fruit juice, soft drinks, cars, tires (including tires on wheelchairs), telephone calls, movie tickets, playing cards, electricity, radios — these and many other everyday things were subject to New Deal excise taxes, which meant that the New Deal was substantially financed by the middle class and poor people. Yes, to hear FDR’s “Fireside Chats,” one had to pay FDR excise taxes for a radio and electricity! A Treasury Department report acknowledged that excise taxes “often fell disproportionately on the less affluent.”

Until 1937, New Deal revenue from excise taxes exceeded the combined revenue from both personal income taxes and corporate income taxes. It wasn’t until 1942, in the midst of World War II, that income taxes exceeded excise taxes for the first time under FDR. Consumers had less money to spend, and employers had less money for growth and jobs.

New Deal taxes were major job destroyers during the 1930s, prolonging unemployment that averaged 17%. Higher business taxes meant that employers had less money for growth and jobs. Social Security excise taxes on payrolls made it more expensive for employers to hire people, which discouraged hiring.

Other New Deal programs destroyed jobs, too. For example, the National Industrial Recovery Act (1933) cut back production and forced wages above market levels, making it more expensive for employers to hire people - blacks alone were estimated to have lost some 500,000 jobs because of the National Industrial Recovery Act. The Agricultural Adjustment Act (1933) cut back farm production and devastated black tenant farmers who needed work. The National Labor Relations Act (1935) gave unions monopoly bargaining power in workplaces and led to violent strikes and compulsory unionization of mass production industries. Unions secured above-market wages, triggering big layoffs and helping to usher in the depression of 1938.

What about the good supposedly done by New Deal spending programs? These didn’t increase the number of jobs in the economy, because the money spent on New Deal projects came from taxpayers who consequently had less money to spend on food, coats, cars, books and other things that would have stimulated the economy. This is a classic case of the seen versus the unseen — we can see the jobs created by New Deal spending, but we cannot see jobs destroyed by New Deal taxing.

For defenders of the New Deal, perhaps the most embarrassing revelation about New Deal spending programs is they channeled money AWAY from the South, the poorest region in the United States. The largest share of New Deal spending and loan programs went to political “swing” states in the West and East - where incomes were at least 60% higher than in the South. As an incumbent, FDR didn’t see any point giving much money to the South where voters were already overwhelmingly on his side.

Americans needed bargains, but FDR hammered consumers — and millions had little money. His National Industrial Recovery Act forced consumers to pay above-market prices for goods and services, and the Agricultural Adjustment Act forced Americans to pay more for food. Moreover, FDR banned discounting by signing the Anti-Chain Store Act (1936) and the Retail Price Maintenance Act (1937).

Poor people suffered from other high-minded New Deal policies like the Tennessee Valley Authority monopoly. Its dams flooded an estimated 750,000 acres, an area about the size of Rhode Island, and TVA agents dispossessed thousands of people. Poor black sharecroppers, who didn’t own property, got no compensation.

FDR might not have intended to harm millions of poor people, but that’s what happened. We should evaluate government policies according to their actual consequences, not their good intentions.

 

[regent]

Should business and farmers be able to make a profit on the items they produce or is it good business for them to lose money on each item sold? That profit was the purpose of the NRA.
The NRA had two problems, one it let business men try to establish the profit on their industry, (mistake) the second problem the Court declared it unconstitutional.

 

[Camp]

Plagiarizing by posting a long anti New Deal rant doesn't cut it Edward. You need to use your own words or give a source and link to what you post. Just a quick read shows many examples of misinformation and fraudulent claims. Did you go to a college or University Edward? Did they not teach you how to use notations and how to record sources? Was there no standard to follow for source acceptance?

 

[Camp]

Should business and farmers be able to make a profit on the items they produce or is it good business for them to lose money on each item sold? That profit was the purpose of the NRA.
The NRA had two problems, one it let business men try to establish the profit on their industry, (mistake) the second problem the Court declared it unconstitutional.

Edward is like PoliticalChic and will not address your direct questions or challenges. You will only get evasions and deflections. At least PC list some sources. Edward just spews fluff and garbage with no attempt to validate it. Think about this. He just posted a long drawn out post about how horrible FDR was to common average American's. They kept reelecting him however. Basically he is saying a big part of what has been come to be known as the "Greatest Generation" was stupid and a bunch of suckers.

 

[EdwardBaiamonte]

will not address your direct questions s.

please present you most significant direct question or admit as a typical liberal you lack the IQ to be here.

 

[EdwardBaiamonte]

Basically he is saying a big part of what has been come to be known as the "Greatest Generation" was stupid and a bunch of suckers.

Basically saying the very liberal New Deal was the Great Depression and World War.

 

[EdwardBaiamonte]

Should business and farmers be able to make a profit on the items they produce or is it good business for them to lose money on each item sold? That profit was the purpose of the NRA.

Great that you may be the dumbest human being on earth for wanting a libNazi govt the purpose of which is to insure a profit for businesses.

 

[CrusaderFrank]

"Recovery is yet to be achieved after the expenditures of some $25,000,000,000 ($3 Trillion in today's dollars) of borrowed money. The conclusion is that what we have done so far in our attempts to secure it not having succeeded, the only recourse is to change the policies which have dictated those attempts. Those policies . . . have in general relied upon expenditure of government funds as distinguished from private capital directed by private initiative." -- Wall Street Journal July 17, 1939

We were trained to believe that FDR rescued the economy. That's one of the biggest lies ever told. Once you look at the facts, FDR was the biggest economy failure in human history

 

[JakeStarkey]

1. Almost no believes your fable, Frank. Only WWII brought full employment because the FEDERAL GOVERNMENT stimulated it through purchases for the sinews of war.
2. Quit being a goof.

 

[CrusaderFrank]

1. Almost no believes your fable, Frank. Only WWII brought full employment because the FEDERAL GOVERNMENT stimulated it through purchases for the sinews of war.
2. Quit being a goof.

So Hitler ended the FDR Depression?

 

[regent]

As some other nations changed their governments and economic systems, America continued its same systems

1. Almost no believes your fable, Frank. Only WWII brought full employment because the FEDERAL GOVERNMENT stimulated it through purchases for the sinews of war.
2. Quit being a goof.

So Hitler ended the FDR Depression?

Any thing or any person that spent money on American products helped end the Great Depression. I don't think we need a Hitler any more, however, we may have found the secret to handling depressions/recessions. The only flaw in Keynes is that the borrowed money should be paid back in prosperous periods.

 

[CrusaderFrank]

Not sure if people focused on the date the article was written but it's contemporaneous with the New Deal and shows government spending was not stimulating the economy

"Recovery is yet to be achieved after the expenditures of some $25,000,000,000 ($3 Trillion in today's dollars) of borrowed money. The conclusion is that what we have done so far in our attempts to secure it not having succeeded, the only recourse is to change the policies which have dictated those attempts. Those policies . . . have in general relied upon expenditure of government funds as distinguished from private capital directed by private initiative." -- Wall Street Journal July 17, 1939

 

[EdwardBaiamonte]

Any thing or any person that spent money on American products helped end the Great Depression.

so do you feel in your liberal heart that if Hoover and FDR had passed a law requiring people to buy things the Depression would have ended in 1929-1930??

 

[EdwardBaiamonte]

"

We were trained to believe that FDR rescued the economy.

Yes, liberals had absolute control of the economy for 16 years and it was all Depression and World War. What ended it was FDR's blessed death !! Had he lived the Depression would have lived because the utter brainwashed liberal fools believed he was saving the economy. About the best and most deadly propaganda brainwashing in all of human history.

 

[regent]

Any thing or any person that spent money on American products helped end the Great Depression.

so do you feel in your liberal heart that if Hoover and FDR had passed a law requiring people to buy things the Depression would have ended in 1929-1930??

And where would the large population of the poor have found the money? As it was people went hungry while we destroyed food. There has to be a profit to labor and products for capitalism to work.

 

[EdwardBaiamonte]

And where would the large population of the poor have found the money?.

So as a silly liberal you think if the govt gave the poor tons of money to spend that would have ended the Great liberal Depression?

 

[ScienceRocks]

This thread is a joke! Roosevelt's new deal started the development of the biggest middle class the world has ever known. Loserterianism is a joke and has resulted in a huge transfer of wealth from that middle class to the rich 1% of our society. It was a massive mistake to deregulate and form massive loop holes that allows the super rich to own entire industries.

Tell me who is deregulating the housing and banking industry? It isn't liberals.