Right now, it’s 6.5% and rising daily. In the next few months, I would not be shocked to see it go to 8, 9, or even 10%. What was the unemployment rate during the great depression in the 30’s, and do you think the country is headed for another great depression?

the passage of the smoot-hawley tariff act caused the unemployment rate to skyrocket to over 20%. raising taxes in any way, shape or form in this kind of environment is suicide.

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2 Responses

1. Randy Says:
   September 21st, 2009 at 12:16 pm

   I believe it was about 25% in 1933.
   References :

2. freakboynv2008 Says:
   September 21st, 2009 at 1:02 pm

   the passage of the smoot-hawley tariff act caused the unemployment rate to skyrocket to over 20%. raising taxes in any way, shape or form in this kind of environment is suicide.
   References :

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