The Truth About the Economy
Robert Reich describes what’s wrong with the economy in 2 minutes. His bullet points (thanks to Stephanie Kelton):
- The economy doubles since 1980, but wages flat.
- Where did the money go…
- All (or most) of the gains went to the super rich. And…
- With money comes political power. Taxes on super rich slashed, revenues evaporate. This leads to…
- Huge budget deficits. Middle class agitated, fights for scraps…
- Middle class divided. Buying and borrowing slow. Resulting in:
- Anemic recovery/economy. Read more...
EVEN THOUGHT YOU WON'T BE ABLE TO SEE, EYE 2 EYE, WITH THIS DUDE. HE IS A COMMUNIST AND A PUPPET FOR THE N.W.O. HE "IS" THE PROBLEM!
ReplyDeleteIn a perfect economy the dollar value would hold constant and wages would only rise to reward increased value of job performance.
ReplyDeleteNon-sustainable growth is cancer.
What a load of crap. Reich is a socialist who will lie and deceive everyone to get his political beliefs into our government.
ReplyDeleteThe capital gains tax is at 15% to encourage people to invest. Investment is a huge part of what makes our economy work. If they raise the tax it will discourage investment. People with money will take it elsewhere. Higher tax rates produce diminishing returns. Reich knows this but does not care because he is only interested in the short term benefit to a socialist cause Long term if the economy tanks it helps the socialist cause because lots of unhappy out of work people get angry and demand change. Guess what system they want to change to.
Robert Reich is a Keynsian, and hence totally wrong! The problems are debt based money growing exponentially, an entitlement mentality so 45% +/- of the federal budget is spent to give people "free money", except it's not free! It is borrowed money. Now taken together, borrowed, fiat money, the outcome can only be exponential debt growth. That always ends in catastrophe. End the Fed and cut entitlements!!! But alas, it's too late. This baby is going down!
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