Skip to comments.Robert Reich: The 3 biggest myths plaguing the U.S. economy
Posted on 03/12/2015 1:33:02 AM PDT by Cincinatus' Wife
1. The job creators are CEOs, corporations, and the rich, whose taxes must be low in order to induce them to create more jobs. Rubbish. The real job creators are the vast middle class and the poor, whose spending induces businesses to create jobs. Which is why raising the minimum wage, extending overtime protection, enlarging the Earned Income Tax Credit, and reducing middle-class taxes are all necessary.
2. The critical choice is between the free market or government. Baloney. The free market doesnt exist in nature. Its created and enforced by government. And all the ongoing decisions about how its organized what gets patent protection and for how long (the human genome?), who can declare bankruptcy (corporations? homeowners? student debtors?), what contracts are fraudulent (insider trading?) or coercive (predatory loans? mandatory arbitration?), and how much market power is excessive (Comcast and Time Warner?) depend on government.
3. We should worry most about the size of government. Wrong. We should worry about who government is for. When big money from giant corporations and Wall Street inundate our politics, all decisions relating to #1 and #2 above become rigged against average working Americans.
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Where does their money to spend come from, Bob...can I call you Bob?? In the midget's world, obviously from government largesse.
isn’t this guy late at the Elf 2 set.
Wretched little dwarf that he is. He perverts economic principles to support his elitist big government argument
Well, THAT is simply because they don't have efficient perpetual motion machine governments like ours that simply create wealth by taking money from citizens in the form of taxes and doling it out to people so they can buy products with it and create more wealth!
Conservatives are sooooooo stupid!
“Macroeconomics is the pretend scientific study of non-scientific phenomenon by persons who do not understand anything much about the reality of their subjects variables, in order to do something apparently useful with a very expensive Ivy League education.
Liberals simply don’t believe that wealth can be “created”. They think the concept is absurd.
We know that wealth CAN be created from an idea.
To liberals, the fact that wealth can spring from an idea and hard work is anathema.
In their mind, it does so only at the grace of the government.
We see it happening in SPITE of the government.
GM & their unions, big pharma, big agriculture (ethanol subsidies, etc.), Solyndra, Keystone XL pipeline (gotta keep Warren Buffet & his railroads happy), George Soros, et al.
"A Time for Choosing" by Ronald Reagan - someone who worked for a living.
"The free market doesnt exist in nature. Its created and enforced by government."
The free market doesnt exist
in nature. because Government weenies like Robert Reich have destroyed it with endless rules and regulations that are Its created and enforced by government.
hahahah, great comment....
look keep that right wing, tea party propaganda to yourself please, HE IS EDUCATED AND ALL KNOWING...facts are not welcome ...
Reich lives in a fantasy, removed from the basic reality of life, he imagines himself to be brilliant when he is spouting mostly nonsense.
By this "logic" the biggest economies on Earth should historically have been centrally planned ones like the Soviet Union and North Korea, but they never get off life support until they abandon the oppressive control like the Chicoms.
Baloney, rubbish, and wrong.
The three biggest myths....
1 - Government involvement helps (aka stimulus)
2 - Government regulations work (yeah, to choke growth)
3 - Taxes make it fair (more choking)
What a nasty little troll Reich is.
Three strikes and you are out!
The regulatory state does not exist in nature. The free market exists in every single voluntary exchange.
The Fed creates it!
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