Not everyone supported the New Deal. As a formula for economic recovery, the New Deal failed. Many businessmen and financiers did not support the economic measures of the New Deal.
With the recession of 1937, many business leaders and politicians claimed that FDR's policies were a failure and the attempt to maintain prosperity during peacetime was not successful at all Many felt that the Depression was just part of the free enterprise (capitalistic) system correcting itself and the laws, such as supply and demand, of the free enterprise system would eventually heal the economy. There were some radical proposals. Huey Long (The Kingfish) from Louisiana gained some support for his "Share the Wealth" program.
This would place taxes on the very wealthy and no personal incomes on more than one million dollars a year would be allowed. This appealed to the poor and middle class. Dr. Townsend proposed a monthly pension plan in which the federal government would pay a pension to all people over 60 years of age.
The pensioners would have to spend all the monthly pension before getting the next months check, and they could not work. Father Coughlin was a Roman Catholic priest who had a radio program. He proposed a complete overhaul of the monetary system, including abolition of the Federal Reserve System.
While FDR had his critics, none of their programs were ever adopted and FDR's popularity remained high and eventually the critics and their supporters gave up.wiki.answers.com»