Renowned economist John Keynes predicted that the economic activity would fall even further after President Herbert Hoover raised the taxes in 1932.
Explanation:
After President Hoover raised the taxes, Keynes warned the administration that it would refrain people from spending on commodities of their daily use, leave alone spending on the commodities for luxury and convenience.
In Keynes view, making the common public pay more when it is already not willing to pay for the commodities of its use would have a more negative impact on the economy of the United States.
