Tuesday, April 24, 2012

They Raised Taxes to Pay for WWII?!

This is amazing! The CNBC hosts are supposed to be economic experts, yet at around 8:10 the hostess expresses her befuddlement that taxes of all sorts went up in the US as it entered World War II:

Most likely she was taught economics in the Keynesian tradition, as she seems to have expected all the war requisites simply to be payed out by fiat (a.k.a. worthless) money!

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