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Date Posted: Thursday, October 30, 05:53:39pm
Author: Plum
Subject: Re: Adam Smith.......you got a pass....
In reply to: Adam Smith 's message, "Re: Adam Smith.......you got a pass...." on Thursday, October 30, 04:18:15pm

Here's a quick overview of the causes of the Great Depression.

http://en.wikipedia.org/wiki/Causes_of_the_Great_Depression

The assignment is to complete the approrpriate reading and then, using your Jesuiut instilled abilities, submit a essay which, employing nuance and logic, (and hopefully wit) compares, then prioritizes the aforementioned list of probable causes. This, or forever hold your unscholarly tongue.

For those disposed to singling exhorbitant taxes on the wealthy as the primary cause of the last Depression, and therefore, one linearly presumes, the most likely cause of another Great Depression, please expatiate upon the expected similiarites in economic impact between raising the highest tax rate from 36% to 39% percent, as currently proposed, and the increase in 1933 from 25% to 63%. And for that matter, please explain, if high taxes are the cause of Depressions, why we were able to emerge from the last Depression with top tax brackets hovering around 90%?

Next week's assignment will be on the topic of government spending creating opportunities for the accumulation of private wealth while stimulating economic expansion and recovery. (We'll start with the railroads.)

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