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High tax and high public spending. Government spending was a slightly lower percentage of GDP than today (https://fred.stlouisfed.org/series/FYONGDA188S https:
by orangecat 2y ago
High tax and high public spending.
Government spending was a slightly lower percentage of GDP than today (https://fred.stlouisfed.org/series/FYONGDA188S https://fred.stlouisfed.org/series/FYONGDA188S), and a whole lot of that was defense (https://econofact.org/u-s-defense-spending-in-historical-and-international-context https://econofact.org/u-s-defense-spending-in-historical-and...).
The 50s were great, let’s do that again.
Assuming you're not a non-white person, or a woman who wants a career. Although getting rid of Medicare would certainly help the budget.
- Chinjut 2y agoIs there something intrinsic to the general setup of government spending in the 1950s that makes it incompatible with equal rights for minorities and women? These would seem to be orthogonal issues.
- sjducb 2y agoObviously I’m talking about re-creating the economic policies of the 1950s, not the equality policies.