On the eve of Presidents Day and in the middle of income tax season, it seems fitting to identify the president who started this nightmare, as well as the subsequent presidents and their own various nightmares. In chronological order, the five worst recent presidents are:
1. Woodrow Wilson
Wilson gave us the dreaded income tax code. He also gave us the Federal Reserve Board. This is the organization that observed a recession similar to the ones that annoyed us in 1906, 1965, and 2000. They made the wrong decisions and turned that recession into the Great Depression.
Philosophically, Wilson gave us the concept of the Living Constitution. In his mind, the constitution is whatever society wants it to be. What exactly is that? Nobody knows. This means that you do not get to know what the law is until the moment when the judge sentences you.
2. Franklin Roosevelt
In addition to the damage done by the Federal Reserve Board, Roosevelt put the Great in the Great Depression. He also started the Social Security Ponzi scheme that plagues us today, 80 years later.
Philosophically, Roosevelt gave us the idea that government spending is the first resort when fixing problems. Now, we have lots of government spending and lots of government problems.
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