In 1928 the economy was struggling. The stock market was being hammered. The standard response to this point in history had been to give business and the markets maximum flexibility so that they could adjust quickly, thus bringing the economy back into equillibrium. We know now that It was just another business cycle, the kind America had been through dozens of times in the past. It didn't need any more adjustment than the markets could handle themselves.

But, progressives in America had become fascinated by the fascists in Italy and the communists in Russia. They were convinced that a huge, centralized government could become a tool to eliminate business cycles and downturns in the economy. They thought that the government, rather than the individual, could become the primary guarantor of wealth and happiness. Some even questioned whether free market capitalism was a outdated as a concept.

The progressives convinced Americans to go to the polls and vote for "change." What they got was two presidents - Hoover in 1928 and then Roosevelt in 1932 - who immediately set out to "change" America into a socialist playground. Their actions plunged America into a depression that lasted for twelve years and was not alleviated until WWII.

For those unfamiliar with history - thats twelve years of double digit unemployment. Food lines. Starvation. Homelessness on an unimaginable scale. Complete misery - in the land of plenty.

What could these two presidents (Hoover and Roosevelt) have done that was so disastrous to the economy? Furthermore, what steps might a president in 2008 make that could duplicate the worst period of economic malaise in American history? A short list follows.

1) They raised income taxes on across the board. The "rich" were particularly targeted - paying  79%.

Obama's plan? Inheritance taxes. Dividend taxes. Capital gains taxes. Virtually no upper limit on the top tax rate. People with money that they could invest in creating jobs here will put there money into less hostile environments - like overseas.

2) They raised corporate taxes.

Obama's plan? Massive corporate tax increases. Windfall profit taxes. This will trigger a flood of jobs overseas and the costs will be passed on to the American people. Say hello to massive inflation. Say hello to 10% unemployment.

3) They doubled and then tripled and then quadrupled government spending.

Obama's plan? His trillion dollars in new spending is just the tip of the iceberg. His giveaway mentality will create more self-perpetuating government bureaucracies, agencies and departments. The snowball effect from all this will dwarf the original "trillion."

4) They created massive new government "entitlement" programs.

Obama's plan? College becomes a "birthright." Nobody in the press has even run the math on this one. I have. It's about six trillion dollars over 20 years.

5) They took over an entire American industry (energy production) and nearly destroyed it.

Obama's plan? Universal government healthcare. Massive payroll tax increases to fund this boondoggle. Say goodbye to the best health care system in the world. Say hello to rationing and waiting lines. Say goodbye to the best and the brightest being willing to sacrifice 20 years of their lives to become doctors. The brain drain effect alone will give us a third world quality system within ten years.

6) They crippled small businesses.

Obama's plan? Tax, tax, tax. The businesses that drive the economy and employ most Americans are small business, most of which are not incorporated. Hence when Obama says he will tax only "the rich" he also means taxing the life out of every small, unincorporated business in America.

7) They demonized big business. They blamed big business for the economic failures that the congress and the presidents had caused.

Obama's plan? Attack and penalize one business sector after another. Congress recently subpoenaed and interrogated banks and mortgage companies - attempting to blame them for the current mortgage crisis. It is not widely known that Congress changed the lending rules that led to this meltdown. Big oil faced the same kangaroo-court shamockery after 30 years of congressional meddling in oil and gas exploration and refining.

Some wise man once said "those who are ignorant of history are doomed to repeat it."

Amen to that.

Don't get me wrong - we can afford an Obama presidency. We will get through it just as we got through the great depression. Maybe each generation has to make its own mistakes after all.

I don't have to like it, however, and I don't have to support it.

I will not vote for poverty and debt and unemployment and class warfare.

I will not vote for Obama.