Today’s economy is nothing like the ’40s
In response to the April 15 letter, “Large spending cuts will revive economy,” that was then; this is now.
Within 18 months of VJ Day, women left industrial jobs and went back home, leaving openings for the veterans. Not to mention we produced what we consumed and traded the building of implements of battle for autos, new-style refrigerators and even the newly arrived TV.
The writer’s next point was socialist-leaning governments. The strongest economy during the Great Recession was a Northern European country with socialized medicine – the Netherlands.
President Ronald Reagan cut taxes in his first term but raised them in his second term, ironically the year that companies were permitted to put money offshore and not pay taxes. About 2,600 of our largest companies did this, yet still sent jobs overseas.
Also, taxes collected since 2000 are down 30 percent, yet we’ve had wars to fund and government has grown with modern concerns like Homeland Security and medical research not heard of in 1946.