Dear Eric;
It was in the middle of WWII and FDR couldn't wait to each years end - he needed money now - hence payroll taxation started up as a WWII "temporary " measure.
Teddy Roosevelt was before Taft and Wilson and Coolidge and Hoover. Wilson enacted the income tax through the 16th Amendment. FDR did not enact the income tax to get us out of the depression FDR enacted policies which made the Depression last twice as long as it should have if he had got out of the way of free markets and zero government interference.
Go to this wikipedia bio to find more on Friedman:
http://en.wikipedia.org/wiki/Milton_Friedman
Ron Getty
SF Libertarian
Ron, both Hoover and Roosevelt should get
credit for extemdomg the Depression 5 to
7
times longer than the typical downturns
of the
previous 50 years, which typically
resolved
within 18 months, wiping out bad debts
and
restoring equilibrium at lower general
price
levels. Hoover was extremely activist,
enacting
myriad make work progarms, and price
support
schemes that prevented equilibrium and
wiping
out of debt.They don't call it the Hoover
Dam
for nothing. Roosevelt was sworn in in
March
of 1933, He immediatly closed the banks,
and
inflated the money supply by 65 percent
overnight by devaluing the dollar vs Gold
and
confiscating private citizens gold and
giving it to
the bankers, in an act of blatant
lawlessness..
By not allowing the general price level
to
decline, the two of them kept the
depression
going from the fall of 29 to depending
on jow
one wants to measure, 1938 or 1942.
Roosevelt
and Hoover's policies were an absolute
disaster.
Roosevelt was a genius on one thing Spin.
In an
era new to mass media, he was able to
spin the
People, without the awareness that they
were
being spun. The mastery continues to this
day.
Almost every living Democrat, young and
old
thinks "Mr. Roosevelt got us out of the
Depression." He was also a master of
traditional media. Socialist themed
murals
drawn by his armies of artists stir the
socialist
heart to this day in the lobby of the
Beach
Chalet Restaurant and the foyer of Coit
Tower.
His troops of government makeworkers
built
beautiful stone trails in all the most
inspiring
natural sites this country has to offer
from
Yosemite to the Great Smokies. Perhaps
Roosevelt was the greatest master of mass
media that will ever live. Ranking up
with him
during the same era was Churchill,
Hitler,
Stalin, and Mussolini.--- In lpsf-
discuss@yahoogroups.com,
Ron Getty
<tradergroupe@...>
wrote:
Dear Eric;
It was in the middle
of WWII and FDR
couldn't wait to each
years end - he needed
money now - hence
payroll taxation started
up as a WWII
"temporary " measure.
Teddy Roosevelt was
before Taft and Wilson
and Coolidge and
Hoover. Wilson
enacted the income tax
through the 16th
Amendment. FDR did
not enact the income
tax to get us out of the
depression FDR
enacted policies which
made the Depression
last twice as long as it
should have if he had
got out of the way of
free markets and zero
government
interference.
Go to this wikipedia
bio to find more on
Friedman:
http://
en.wikipedia.org/wiki/
Milton_Friedman
Ron Getty
SF Libertarian
----- Original
Message ----
From: eric dupree
<dupreeconsults@...>
To: lpsf-
discuss@yahoogroups.com
Sent: Thursday,
November 16, 2006
5:31:05 PM
Subject: Re: [lpsf-
discuss] Milton
Friedman, 1912-2006
Ron,
How was the
economy at that time?
Did we (really) need
the money? I remember
reading war bonds were
doing well. Didn't the
previous Roosevelt
institute the actual
income tax to get us out
of the depression?
What was Mr.
Friedman family
background?
DuPree Consults"we
get results"