Congress—both chambers with Democratic majorities—responded by just saying "no." No to the whole New Deal revival: no federal program for health care, no full-employment act, only limited federal housing, and no increase in minimum wage or Social Security benefits.
Instead, Congress reduced taxes. Income tax rates were cut across the board. FDR's top marginal rate, 94% on all income over $200,000, was cut to 86.45%. The lowest rate was cut to 19% from 23%, and with a change in the amount of income exempt from taxation an estimated 12 million Americans were eliminated from the tax rolls entirely.
Corporate tax rates were trimmed and FDR's "excess profits" tax was repealed, which meant that top marginal corporate tax rates effectively went to 38% from 90% after 1945.
Yet the ObamaNation continues to feed US the bullshit of revisionist history, which many continue to believe. Wake up America. John F. Kennedy, Ronald Reagan and even Congress under the Truman Administration (after FDR's death) got it right.
Read more about the myth of FDR saving the economy in today's Wall Street Journal online.wsj.com/article/SB200014240527023