Oct.29,1929 was Black Tuesday, heralding the Great Depression. Was World War Two necessary for America's recovery to begin?

[832loverboy73]

[Chazmatazz269]

Not at all. The US COULD have raised taxes on the top earners before the war, and fiscal recovery could have begun then. Problem was, and still is, the fat cars don’t like to spend money on which they get no returns, and their egregious wealth puts them well ahead of the proletariat that benefits from the fundamental system. So investing in war returned riches so incalculable that they didn’t care about the 94% tax rate. When the war was over, they had nearly twice as many laborers since women entered the workforce en masse and decided that they kinda liked it. That meant they could cut wages too as the boys came back from war. It’s no coincidence that “the American dream” was concocted shortly after the crash. So it shouldn’t be shocking that the pigs cashed in on that fantasy almost immediately.
Unfortunately, things were so good for so long that our DEMOCRAT president, JFK, fought to reduce the top tax bracket from 90% to 70%. Let that sink in. The top tax rate was once 94%, and nobody left the country let alone starved to death. It didn’t “stifle” productivity or the economy, as so many nitwits insist it would do today. They dropped the top tax rate to 70%, and still nobody left. Nobody starved. Business was good! People were making money. Companies were making money. Maybe most importantly, people and companies were more interested in REAL production and REAL money. As opposed to the speculation and loans that caused the crash.
But let’s get back to those taxes. For reference, the top tax rate in the USA today is 38%. Plus there are innumerable loopholes, tax breaks, abatements, deferments, shields, shelters, subsidies, credits and more that keep the wealthiest people and organizations from paying in the money that kept the good times rolling for EVERYONE in the past.
It’s funny to me how many people complain about inflation AND about taxing the rich. We can only get REAL money from two things, making products that bring REAL money in and taxes. The US makes very little. What we do make is almost entirely dependent upon foreign markets for raw materials and first tiers production. So significant percentages of the revenues from most things we make go right back out of the country. And the pigs that own and run the multinational corporations that make money coming and going, they’ve got people complaining about the “affordability crisis” WHILE defending the pigs that cause it from fair taxes. So if we’re not making money on the things we make, and we’re not taxing the people and organizations who DO make the money, the only other option is to print more worthless money!
Again, they used to pay 94% tax rates, and EVERYONE was happy. They used to pay DOUBLE what they are paying now, and the economy BOOMED by every conceivable metric.
Today, half the country pisses their pants at the mere thought of taxing the wealthiest people and companies more. Because they have no idea how anything works. They just believe what their oppressors tell them and don’t question anything.

[OlderAndWiser]

It is true that FDR's New Deal programs were merely a band-aid on the grievous wound the country had suffered and it was, in fact, World War II that caused our economic recovery. But we would have recovered without a global war. Abandoning the gold standard was a large component of recovery, and that began before December 7, 1941.

[Anonymous]

The Great Depression was harvest time for the big money men.

WW2 was the UK spending the wealth accumulated in hundreds of years of empire building buying arms and resources from America. WW1 too. My point is that the money was already there.

[exitseven]

eventually the US would have gotten out of the depression but maybe WW2 facilitated the process.

[Anonymous]

Recovery began with the New Deal

[Pterodon]

Don’t know if it was necessary but it sure helped

[Anonymous]

we always defend ourselves

[Anonymous]

🥺🥺