Uh oh -- Both candidates are like Hoover?

Timothy Kane on John Kerry, Herbert Hoover, the Great Depression, and Economic Policy on NRO Financial

"History reminds us that presidents cannot control the economic winds. But they can change the direction of the sails.

What were Hoover’s policy responses to the Great Depression? He persuaded Congress to raise the top income-tax rate from 25 percent to 63 percent. Hoover also signed the Smoot-Hawley tariff, a 40 percent tax on imports. But aren’t higher taxes on the rich and protectionism against outsourcing Kerry’s signature issues? Every time outsourcing is mentioned in this campaign, voters should recognize Hoover’s fingerprints on the Kerry economic agenda."