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To: Crucial

>>Tariffs and taxes caused the Great Depression. <<

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

Sorry, but this is globalist propaganda.

The GD was caused by an ill-fated attempt of globalist bankers to deflate currencies to pre-WWI levels (i.e., 1913) in terms of gold. Bank lending dried up, economic activity froze up, and eventually there were massive bank failures (of smaller banks).

By the way . . . did you know that the slogan “free trade” originated in the propaganda leading up to the Opium Wars, which were used to FORCE China to continue allowing the importation of opium (then grown in India) via the British East India Company.


42 posted on 12/22/2016 9:01:29 PM PST by Disestablishmentarian
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To: Disestablishmentarian

The Hawley-Smoot Tarrif Act passed by Progressive Republicans and incurred worldwide retaliation, along with record high income taxes, 63% on the top tax bracket, raised even further by FDR, caused the Great Depression. The tariffs resulted in higher prices and a substantial decrease in trade. This resulted in a drop in GDP and job losses. Higher tax rates resulted in less investment in the economy, resulting in more job losses.

The Communists and socialists have maintained that the Great Depression resulted from speculation which ties into what you are talking about but that happened as a result of this Progressive agenda, an agenda Trump looks to be willing to embrace. What you’re espousing with tariffs is sheer madness.


72 posted on 12/22/2016 10:39:53 PM PST by Crucial
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