The new neo-Hooverite solutions

Cut the corporate tax. This seems to be the prevailing brilliant idea of those who, given the chance, would have voted for a second Hoover term.

Cato’s Chris Edwards offers his proposal for warding off depression: “What Obama should do is a pass a large corporate tax rate cut, which would spur long-run growth.” Yes, neo-Hooverism taken to new and exciting heights allowing everyone to dust off the Keynes line about how in the long-run we’re all dead in an appropriate context.

Amity Schlaes goes still further. Cut the corporate tax and the capital gains tax.

During the years when the housing bubble was growing to ever more dangerous levels the Washington Post could never find room for an oped piece warning of its dangers. There were so many more issues that were more important than an $8 trillion housing bubble.

However, just over three months ago the Post did find room for a piece telling readers that the economy was really just fine and that the people complaining were a bunch of whiners. In this proud tradition, the Post has an oped column today by Amity Schlaes that tells readers the best way to deal with the economic downturn is to cut the corporate income tax and virtually eliminate the capital gains tax.

Yes, that Amity Schlaes.

And the same Amity Schlaes who doesn't like capital gains taxes, thought the real problem with The New Deal was higher wages.