Did the low tax rates & balanced budgets of the '20's prevent the Great Depression?

[Kaleva]

Over the past several days, I've been reading numerous posts, blogs, and articles where it's been argued that a balanced federal budget along with low tax rates will put this nation on the path to economic prosperity. Never mind that during the "prosperous" 1920's, when this nation had very low tax rates and balanced budgets, only about 15%-20%% of the population was considered to be middle class while the vast majority was poor and a very small minority was super rich. 1% of the population owned 40% of the nation's wealth while 93% of the population saw their real disposable per-capita income drop during that decade.

To be sure, the factors causing the world-wide Great Depression are complicated and numerous but I think it can be clearly argued that balanced budgets and low tax rates do not guarantee economic prosperity for all.

[OHdem10]

1. We had great recessions. If taxcuts and balanced budgets

worked, there would not have been a Depression.

The economy was fragile and Hoover had to do his
belt-tightening orthodoxy and wow, what a crash.

The Tweenties a time of the Rich getting richer
and loosening of bank rules just like this time
wow crash!!!

[OHdem10]

2. People who re-write history instead of learning from it keep making

the same mistakes over and over.

[TheKentuckian]

3. I don't get why folks on our side think they are in a debate where superior facts

and demonstrated precedent are going to win the day.

We are dealing with a false religion, a cult despite the secular nature of the cult.

If this was about what some think it is we wouldn't be having these conversations.

Fuck, even Poppy Bush could see the voodoo once upon a time.

We are not in debate match here, we face ideological fundamentalist easily compared to any religious extremists and we aren't going to push facts that will make them concede their positions, in fact they will just become more extreme in face of argument and they will become more extreme if given credence.

They must be opposed and ridiculed. They should be treated no differently than an effort to impose sharia.

[Kaleva]

4. It's the audience and fence-sitters we are going after. Not the other team.

As you say, it's pointless to try an convert a true believer but there are many who are undecided and can go either way. It's those folks who can be won over by sane, reasoned arguments backed up by facts.