Obama Peddles Myths About the Great Depression: No, Hoover Didn’t Cut Taxes or Spending

By Hans Bader at OpenMarket.org

Herbert Hoover increased marginal tax rates on the wealthy to 63 percent, and more than doubled government spending as a percentage of the economy. But in his political speeches, President Obama continues to falsely claim that Hoover gave “tax cuts” to the rich and slashed the government to promote “trickle-down economics.”

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