Nov 092012
 

Republicans are still holding on to the claim that the richest Americans are the job creators, and how favoring them will make us all better off.  You’d think America would know better by now, because wealth keeps gushing up, and the only thing that trickles down on us is elephant crap.

9jobcreators

University of California professor Robert Reich said Thursday that Republican proposals to raise revenues without raising taxes were impossible.

“There does have to be an increase in the marginal rate on the very rich,” he told Current TV host Eliot Spitzer. “That is something Republicans don’t want to admit.”

“What they are counting on is this whole supply-side mythology that if you simply keep taxes low on the rich, the economy grows faster, and that growth almost by magic — in fact it is by magic — creates enough revenues to get you out of any kind of budget deficit problem. That’s not going to work.”…

Inserted from <Raw Story>

Photo credit: Harmony Central Forums

Here’s the video:

Of course Reich is right.  You are the job creators, not vulture capitalists, and supply-side economics is a lie!

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  8 Responses to “Supply Side Economics is a Lie!”

  1. It's the demand for goods and services plus disposable income, period. Who creates that demand? Normally a middle class because it's the largest class… or it should be.

  2. Robert Reich is spot on! 
     
    First, consider the number of people in the 1% versus the number of people in the middle class.
     
    Second, now consider the amount of possible spending by the 1% versus a robust middle class.
     
    To me, it is very evident that the larger middle class is going to spur the growth in the economy by buying, creating a demand for products.  That demand leads to higher employment rates, more money in pockets, and more consumption.  Billionaire Nick Hanauer had it right when he said he was not a job creator.  He said the middle class is the job creator in its quest for products and services.
     
    Another point, if I recall correctly, the Clinton presidency had much higher tax rates, AND it had much better job growth and a better economy.  That rather dashes the current argument to pieces, unless I missed something somewhere.
     
    The Republican/Teabaggers really need to get their heads out of their asses and get a new shtick!

  3. I am so sick and tired of hearing the RepublicanTs spout their meme that "we can't raise taxes on the job creators" that I could just barf.
     
    They have paid next to nothing in taxes since the Bush tax cuts and have eliminated jobs instead of creating them. The only place they created jobs were overseas.

  4. Of course Reich is right. You are the job creators, not vulture capitalists, and supply-side economics is a lie!

    The wealthy simply  stifle the very middle class which is the job creators…