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Old Nov 3, 2008, 01:25 PM   #2518
DaMulta
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Franklin D. Roosevelt Democrat
http://www.whitehouse.gov/history/presidents/fr32.html
Quote:
He was elected President in November 1932, to the first of four terms. By March there were 13,000,000 unemployed, and almost every bank was closed. In his first "hundred days," he proposed, and Congress enacted, a sweeping program to bring recovery to business and agriculture, relief to the unemployed and to those in danger of losing farms and homes, and reform, especially through the establishment of the Tennessee Valley Authority.

By 1935 the Nation had achieved some measure of recovery, but businessmen and bankers were turning more and more against Roosevelt's New Deal program. They feared his experiments, were appalled because he had taken the Nation off the gold standard and allowed deficits in the budget, and disliked the concessions to labor. Roosevelt responded with a new program of reform: Social Security, heavier taxes on the wealthy, new controls over banks and public utilities, and an enormous work relief program for the unemployed.

http://en.wikipedia.org/wiki/Franklin_D._Roosevelt

Quote:
During the Great Depression of the 1930s, Roosevelt created the New Deal to provide relief for the unemployed, recovery of the economy, and reform of the economic and banking systems.[2] Although recovery of the economy was incomplete until almost 1940, the programs he initiated such as the Federal Deposit Insurance Corporation (FDIC), Tennessee Valley Authority (TVA), and the United States Securities and Exchange Commission (SEC) continue to have instrumental roles in the nation's commerce. One of his most important legacies is the Social Security system
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Senator Huey Long
December 11, 1934
http://www.themoderntribune.com/gove...the_wealth.htm
Quote:
According to the tables which we have assembled, it is our estimate that 4 percent of the American people own 85 percent of the wealth of America, and that over 70 percent of the people of America don't own enough to pay for the debts that they owe.

Any man with a thimble-full of sense ought to know that if you take 85 percent off of that table and give it to one man that you are bound to have 2/3 the people starving because they haven't got enough to eat.

So, what values help us, and which ones don't?

What happened after that and America went into high gear?

We taxed the hell out the rich!

http://www.cflonline.org/news.php?id=236
Quote:
In fact, back in 1942, a call for what amounted to a “maximum wage” actually came from the President of the United States. President Franklin D. Roosevelt that year asked Congress to impose a 100% tax on all individual income over $25,000, the equivalent of about $300,000 today, after adjusting for inflation.

FDR didn't get his 100% top tax rate. But he did get Congress to pass a 94% top tax rate on all income over $200,000. And America's top tax rate on high incomes would hover around 90% for the next two decades, years that would see unprecedented economic prosperity for average American families.

Those high tax rates on high incomes FDR inspired have disappeared. In 1943, the very richest Americans paid 78% of their total incomes in federal income tax. In 2003, by contrast, our very richest Americans paid a mere 17.5% of their total incomes in federal tax.
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