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Criticisms of the New Deal

Criticisms of the New Deal. US History: Spiconardi . Conservatives Criticism. Taxes too high Too much government regulation/interference Who is the government to control agricultural production? Who is the government to set prices and wages?

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Criticisms of the New Deal

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  1. Criticisms of the New Deal US History: Spiconardi

  2. Conservatives Criticism • Taxes too high • Too much government regulation/interference • Who is the government to control agricultural production? • Who is the government to set prices and wages? • Destroying self-reliance and individual initiative

  3. Conservative Criticism • Deficit spending was out of control • Deficit spending  When the government spends more than it earns

  4. Liberals Criticism • Huey Long • Gov. of Louisiana (later Senator of L.A.) • Proclaimed: “Every Man a king, but No One Wears a Crown.” • Believed wealth had to be redistributed "God called: 'Come to my feast.' But what had happened? Rockefeller, Morgan, and their crowd stepped up and took enough for 120,000,000 people and left only enough for 5,000,000 for all the other 125,000,000 to eat. And so many millions must go hungry."

  5. Liberal Criticism • Share our Wealth Society • Long proposed a new progressive tax code • All wealth greater than $1 million dollars would be taxed • 2nd million at 1 percent • 3rd million at 2 percent • 4th million at 4 percent • 5th million at 8 percent • 6th million at 16 percent • 7th million at 32 percent • 8th million at 64 percent • All additional wealth at 100 percent • Money from capital taxes would be used for a • Homestead allowance of $5,000 • An allowance to protect a household, if the owner died with a large amount of debt • Annual income of $2,000

  6. Fr. Coughlin • Roman Catholic priest whose weekly radio program attacked Roosevelt and the New Deal • Believed Roosevelt catered to Wall Street • Anti-capitalist, but also anti-communist • Believed Wall Street and communism were the “twin faces” of Satan • Blamed the Great Depression on the “international conspiracy of Jewish bankers”

  7. Did the New Deal Work?

  8. Did the New Deal Work?

  9. Did the New Deal Work? Distribution of Total Family Income in U.S. 1929- 1944

  10. Did the New Deal Work?

  11. Did the New Deal Work?

  12. Did the New Deal work? Dollars (Billions)

  13. Did the New Deal work? Prices received by Farmers (1967 = 100)

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