The Mudcat Café TM
Thread #119021   Message #2580829
Posted By: bald headed step child
04-Mar-09 - 12:54 AM
Thread Name: BS: Obama Goes For Broke
Subject: RE: BS: Obama Goes For Broke
Thank you Don, and Carol for those links.

One of the big Republican myths is that WW2 got us going again. In reality, the economy was growing at a slow but steady rate in the mid to late 30's. GDP increased at an average of about 6% during those years.

Yes, when we entered the war, unemployment went down due to those entering military service, but all of our manufacturing went to war production.

Consumerism fell to record lows, because everything had to go to the boys at the front. New cars weren't bought because they weren't available. Everything went into the war. Munitions manufacturers made out fine, but a sustainable economy can't be built on things you blow up. Overall, the economy as measured by GDP dropped during the war, and dropped further when the war ended.

Incidentally, the nominal tax rate, for the top 1% at that time, and thru Eisenhower's Republican administration was at 90%. And the Repubs are bitching now about 36%? Of course most don't even understand what the nominal tax rate means.

Studies like the one Q, and Sawzaw linked are easy to find, and easy to make. All you have to do is decide what you want the results to be, and then cherry pick and twist the facts to show what you want. Hardly scientific, but hey, you can convince yourself of anything that way, even that global warming doesn't exist, or that the Republican party really gives a shit about anybody that makes less than $10 million a year. That's been a trademark of theirs for years, can't expect them to change now.

Of course this is just my opinion, formed through time spent looking at facts, and not listening to some drug addled gas bag.

BHSC