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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The little SOB is moving from socialist to communist.
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).
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.
A matchbook-cover summary of the “you-didn’t-build-that” neo-socialist manifesto.
One confused twerp...
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.
That map shows roughly where the battle lines will be drawn for Civil War II.
From the guy who created nothing.
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?
Well, according to those countries' rich, brutal dictators-for-life, American free enterprise is the reason they live with debilitating disease and crushing poverty.
Actually,improvement in productivity creates jobs By lowering the cost of goods and services increasing demand.
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.
A ginormous Government, continually roughing-up all of it’s perceived enemies, is exactly what Leftists like this aspire to.
For the sake of brevity, Obama & Elizabeth Warren just say, “You didn’t build that!”.
Has this guy ever been right about anything?
“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:
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.
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.