Why The Economic Situation In 1920 Was Grim
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“The economic situation in 1920 was grim. By that year unemployment had jumped from 4 percent to nearly 12 percent, and GNP declined 17 percent.”[1] Federal income tax rates were massively and oppressively increased from a maximum rate of 15 percent in 1916 to 77 percent in 1918. This plummeted the percent of overall tax revenue paid by the wealthy from 29.4 percent in 1916 to only 2.37 percent by 1921.[2] As a result, the higher rates “shifted a growing share of the burden onto the lower income bracket taxpayers.”[3]
This occurred under Woodrow Wilson’s administration, and although he enacted the Federal Reserve[4] “to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes,”[5] it has never accomplished its intent.
A Right-Wing Think Tank Is Behind the Controversial Great Barrington Declaration Calling for COVID-19 Herd Immunity
An open letter that emerged earlier this month opposing COVID-19 shutdowns and calling for a “herd immunity” approach to addressing the coronavirus which already has claimed over 220,000 American lives is one of the latest examples of how right-wing ideology and think tanks that have long cultivated climate science denial are now engaging in COVID disinformation and promoting messaging dangerous to public health.
Known as the Great Barrington Declaration, this statement advocating for herd immunity was introduced in early October at an event hosted by the American Institute for Economic Research, a conservative free-market think tank located in the western Massachusetts town of Great Barrington. This think tank, funded in part through a corporate investment firm with holdings in major oil and petrochemical companies, operates a network for the internation
Who Is Karl Marx? What Is Marxism and its Consequences?
Marx was a vicious racist and anti-Semite. His demonic apocalyptic vision of destruction led to the deaths of over 100 million victims by their murderous Marxist regimes.
Reviewed by Dr. Gary North: “This is an irrefutable book. Not many books in history are. I have a Ph.D. in history. I wrote a book on Marx’s thought, which was published in 1968. I went through more primary source documents by Marx and Engels than most professional historians ever do. This book is a compilation of direct citations from primary source documents. Weyl assembled the citations in one book, for which historians should be grateful. The one-star ratings are offered by readers who cannot bear the thought that their beloved Marx wrote what he very clearly did write. If you have any doubts, buy this book and read it.Then follow the footnotes. This book was dropped down the academic memory hole from the day it was published. Marxism was still a fai
Fed Transparency Won t Get Us out of the Mess the Fed Created – Investment Watch investmentwatchblog.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investmentwatchblog.com Daily Mail and Mail on Sunday newspapers.