Barrack Obama and Herbert Hoover--Kindred Spirits

There is an old saying with which most of us are familiar: Those who can not learn from history are doomed to repeat it. I think most Americans have some respect for that saying--well, except for Barrack Obama.

Obama asserts in his tax policy that 95% of Americans will see a tax decrease under his plan. That's interesting in and of itself given that 40% of the American people pay no income tax. What must happen, then, is that the 5% of Americans (which in and of itself is questionable because they keep dropping the income threshold) who will realize a tax increase, that will fund the rebate of the 40% who pay no taxes. Convoluted, I know...

My point: In 1932, with unemployment at 20 percent, President Herbert Hoover inexplicably signed a bill that increased taxes, and in effect, reversed the cuts supported and signed into law by his immediate predecessor, Calvin Coolidge.

Not only did Hoover's tax increases more than doubled rates at the bottom of the bracket, but he also increased the top marginal tax rate by 38% (from 25% to 63%). The effect of that nonsense should have been predictable--if not to Hoover, then to at least his economic advisors or economists.

Again, those who fail to learn from history's mistakes are doomed to repeat them. The result of Hoover's tax increases? The Great Depression.

Today, Barrack NoBama wants to ignore the lessons of history and increase the top tax rate (in order to "spread the wealth") in an environment much like during the Hoover era. Obama has suggested a payroll tax increase and an income tax increase. Like the Hoover/Coolidge scenario, Obama is determined to rollback the Bush tax cuts.

Unfortunately, millions and millions of American voters are ignorant. They see the nice smile, the handsome man, the articulate delivery. What they don't see--what they are too ignorant to see--is that Obama's economic policies--his quasi-Socialism--his radical associations are doomed to repeat the events of past. The good thing about being around for awhile is that you accumulate experience--and I'm not talking about Obama's lack thereof--I'm talking about the American experience.

But, thanks to a media that's in the tank, thanks to a current President with the popularity rivaling that of Art Modell to Clevenders, and thanks to apathetic sheep that is the majority of the American electorate, we are about to elect one of the most inexperienced, radical presidents in the History of this nation.

The polls are narrowing (not that i believe the polls)--but this race is close. So vote--and as they say in Chicago (and the Ohio Secretary of State's office), and vote often.

--G