Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Robert Reich: The 3 biggest myths plaguing the U.S. economy
Salon ^ | March 12, 2015 | Robert Reich

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 doesn’t exist in nature. It’s created and enforced by government. And all the ongoing decisions about how it’s 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.

Please take a look at our video, and share.


TOPICS: Business/Economy; Editorial; Government; Politics/Elections
KEYWORDS: economy; freemarket; jobs; reich; robertreich; stubbs; taxes
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-8081-83 next last
To: Cincinatus' Wife

The little SOB is moving from socialist to communist.


61 posted on 03/12/2015 5:04:17 AM PDT by AlphaOneAlpha
[ Post Reply | Private Reply | To 1 | View Replies]

To: Cincinatus' Wife

He really believes this drivel, and that in and of itself is scary. Using his logic, Venezuela’s economy should doing exceptionally well right now. He’s an obsessed ideologue, and these can be among the most dangerous people in the world (e.g. ISIS).


62 posted on 03/12/2015 5:12:55 AM PDT by pieceofthepuzzle
[ Post Reply | Private Reply | To 1 | View Replies]

To: Cincinatus' Wife

Reich reminds me of the FReepers who mock and deride those who want to insure another Dim doesn’t take the WH - same type of nonsensical mocking and derision w/o any concrete evidence that they have a clue.


63 posted on 03/12/2015 5:21:24 AM PDT by trebb (Where in the the hell has my country gone?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Cincinatus' Wife

A matchbook-cover summary of the “you-didn’t-build-that” neo-socialist manifesto.


64 posted on 03/12/2015 5:37:50 AM PDT by IronJack
[ Post Reply | Private Reply | To 1 | View Replies]

To: IronJack
The electorate isn't buying it.


65 posted on 03/12/2015 5:52:07 AM PDT by Cincinatus' Wife
[ Post Reply | Private Reply | To 64 | View Replies]

To: Cincinatus' Wife

One confused twerp...


66 posted on 03/12/2015 6:03:50 AM PDT by Eric in the Ozarks ("If he were working for the other side, what would he be doing differently ?")
[ Post Reply | Private Reply | To 1 | View Replies]

To: T-Bird45
"In what world can an economics Ph.D. be so flamingly ignorant and obtuse -- "

The short and long of it however, is that the runt is describing what the American economy has become since the halcyon days of Reagan. We know better, but you have to face facts, much of America's economy has seen fundamental transformation since 1989.

67 posted on 03/12/2015 6:17:44 AM PDT by buckalfa (First time listener, long time caller.)
[ Post Reply | Private Reply | To 6 | View Replies]

To: Cincinatus' Wife

That map shows roughly where the battle lines will be drawn for Civil War II.


68 posted on 03/12/2015 6:21:07 AM PDT by IronJack
[ Post Reply | Private Reply | To 65 | View Replies]

To: Cincinatus' Wife

From the guy who created nothing.


69 posted on 03/12/2015 6:22:37 AM PDT by KC_Conspirator
[ Post Reply | Private Reply | To 1 | View Replies]

To: Cincinatus' Wife

If government spending is the ultimate economic stimulus, then why don’t impoverished nations simply spend the necessary billions to upgrade their infrastructure and lift themselves out of penury? There’s no reason the Congo shouldn’t have an 8-lane autobahn, hospitals that rival the Mayo Clinic, and schools the equal of Oxford. What’s stopping them?


70 posted on 03/12/2015 6:25:34 AM PDT by IronJack
[ Post Reply | Private Reply | To 1 | View Replies]

To: IronJack
....What’s stopping them?

Well, according to those countries' rich, brutal dictators-for-life, American free enterprise is the reason they live with debilitating disease and crushing poverty.

71 posted on 03/12/2015 6:31:05 AM PDT by Cincinatus' Wife
[ Post Reply | Private Reply | To 70 | View Replies]

To: 4rcane

Actually,improvement in productivity creates jobs By lowering the cost of goods and services increasing demand.


72 posted on 03/12/2015 6:35:23 AM PDT by CMAC51
[ Post Reply | Private Reply | To 4 | View Replies]

To: Cincinatus' Wife
American free enterprise is the reason they live with debilitating disease and crushing poverty.

Of course it is. And the reason I didn't get to play forward for the 1968 Knicks is that the NBA was biased against white men. Any other explanation would involve me admitting my own shortcomings as a professional basketball player.

73 posted on 03/12/2015 6:55:58 AM PDT by IronJack
[ Post Reply | Private Reply | To 71 | View Replies]

To: WayneS

A ginormous Government, continually roughing-up all of it’s perceived enemies, is exactly what Leftists like this aspire to.


74 posted on 03/12/2015 7:17:09 AM PDT by Buckeye McFrog
[ Post Reply | Private Reply | To 50 | View Replies]

To: Jack Hammer

For the sake of brevity, Obama & Elizabeth Warren just say, “You didn’t build that!”.


75 posted on 03/12/2015 9:37:00 AM PDT by mellow velo
[ Post Reply | Private Reply | To 44 | View Replies]

To: Cincinatus' Wife

Has this guy ever been right about anything?


76 posted on 03/12/2015 10:53:34 AM PDT by jospehm20
[ Post Reply | Private Reply | To 1 | View Replies]

To: Cincinatus' Wife
"The real job creators are the vast middle class and the poor..."

Most of "the vast middle class" is directly or indirectly supported by federal, state and local government and has regulated against private property rights and new, small manufacturing shops. That's why debts are piling up. In a thriving, developed economy, government and services are supported agriculture, energy and a large manufacturing base on home soil.

"The free market doesn’t exist in nature. It’s created and enforced by government."

That's funny, but that's the stated belief of today's management in politics, academia and business. In actual behavior, the same bosses are hoping to hold their positions while continuing to shrink and barricade their part of the economy (Fort Apache).


77 posted on 03/12/2015 11:39:04 AM PDT by familyop (We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: 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.”

Two words, @$$hole:

Atlas Shrugged


78 posted on 03/12/2015 6:47:24 PM PDT by RWB Patriot ("My ability is a value that must be earned and I don't recognize anyone's need as a claim on me.")
[ Post Reply | Private Reply | To 1 | View Replies]

To: Cincinatus' Wife

Between the author’s stupidity and the drooling adoration in the comments section, I won’t even bother pointing out how full of it he is.


79 posted on 03/12/2015 6:49:28 PM PDT by RWB Patriot ("My ability is a value that must be earned and I don't recognize anyone's need as a claim on me.")
[ Post Reply | Private Reply | To 1 | View Replies]

To: Gigantor
he's right on some points...

I'm tired of defending the rich elitist.....

they become rich thru backdoor deals and special privileges given to them by their political buddies...

and what do they do in return for their ill gotten assests?....do everything they can to diminish any chances of the working/middle classes advancing...

top it off....they have made our lives much harder and less safe due to allowing millions of ill prepared illegals to flood our cities and towns....

they just don't give a damn.

80 posted on 03/14/2015 11:11:38 AM PDT by cherry
[ Post Reply | Private Reply | To 2 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-8081-83 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson