Could summarize as "Warren is just wrong".
Warren is just wrong on this. Tax hikes written to pay for the unexpectedly high costs of the New Deal prevented recovery (late 1930s). The tax hikes written to pay high costs of the Great Society flattened the (even the nominal!) Dow for a decade (1970s).pic.twitter.com/L1ZiBAnJiG
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Thanks Amity. We know the New Deal failed. The press has been in love with it for 80 years and academics have lied about it as well. Your book, the Forgotten Man, should be required reading.
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Not to mention the unwritten tax hikes caused by bracket creep from the inflation of the 60s & 70s.
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I’d be super interested to see some definitive proof that tax hikes “flatten” stock market growth. The “late 30s” argument ignores the 1932 huge tax hike that didn’t stop the Dow from positive performance in 1933-1936 and 1938pic.twitter.com/TsPWTcbJBH
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Tax hikes on the top marginal line in the early 50s didn’t impact stock market growth. More recently, hikes in the early 90s and early 2010s didn’t negatively impact the markets. This is a good example of using hand picked samples to try and prove causation.
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The more they tax the less I have for my Roth, HSA, daughters 529 plan, additional mortgage payments... I can go on. Warren is very very wrong.
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True. In the 70’s the Dow bounced around the “Magic 1000” Mark. By comparison, the Dow has risen 10,000 points since the last presidential inauguration.
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Not to mention FDR’s “brain trust” being wooed by Stalin’s Potemkin Village-like propaganda.
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Le chargement semble prendre du temps.
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