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Editorial
May 26, 1949
The Potters Herald
East Liverpool, Columbiana County, Ohio
What is this article about?
Editorial argues against Byrds' view that higher taxes cause depression, favoring New Dealers' emphasis on government spending to maintain purchasing power and prevent economic downturn, while supporting Truman's criticism of conservative congressional influence.
Clipping
OCR Quality
100%
Excellent
Full Text
The Byrds argue that higher taxes might throw us into a depression. They ignore the balancing factor of government spending to bolster purchasing power. New Dealers contend that a cut in spending would do more to throw us into a depression than higher taxes—which they say can be borne without injury in view of high profit levels now existing.
Labor and liberal economists have long contended that the way to fight a depression, or fight off a depression, is to increase government spending for things the people and the nation need. If the economy is dropping because people do not have purchasing power enough to keep it going, then fill the gap with government spending. A cut in government spending at a time when private spending is dropping would be fatal, they contend.
There are a lot of people today who are joining with President Truman in saying there are "too many Byrds" in Congress.
Labor and liberal economists have long contended that the way to fight a depression, or fight off a depression, is to increase government spending for things the people and the nation need. If the economy is dropping because people do not have purchasing power enough to keep it going, then fill the gap with government spending. A cut in government spending at a time when private spending is dropping would be fatal, they contend.
There are a lot of people today who are joining with President Truman in saying there are "too many Byrds" in Congress.
What sub-type of article is it?
Economic Policy
Partisan Politics
What keywords are associated?
Higher Taxes
Government Spending
Depression Prevention
New Dealers
Byrds
Truman
Purchasing Power
Profit Levels
What entities or persons were involved?
Byrds
New Dealers
Labor And Liberal Economists
President Truman
Congress
Editorial Details
Primary Topic
Debate On Taxes And Government Spending To Prevent Depression
Stance / Tone
Supportive Of New Dealers And Truman Against Byrds
Key Figures
Byrds
New Dealers
Labor And Liberal Economists
President Truman
Congress
Key Arguments
Higher Taxes Might Throw Us Into A Depression But Ignore Government Spending To Bolster Purchasing Power
A Cut In Spending Would Do More To Throw Us Into A Depression Than Higher Taxes Which Can Be Borne Given High Profit Levels
The Way To Fight A Depression Is To Increase Government Spending For Things The People And Nation Need
If The Economy Is Dropping Due To Lack Of Purchasing Power, Fill The Gap With Government Spending
A Cut In Government Spending When Private Spending Is Dropping Would Be Fatal
There Are Too Many Byrds In Congress