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Robert Reich on Jobs and Wages

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Robert Reich on Jobs and Wages Empty Robert Reich on Jobs and Wages

Post by Lurker Tue Feb 24, 2015 5:07 pm

Robert Reich

Don’t believe the propaganda put out by big corporations, Wall Street, and the rich about jobs and wages – especially the following four big lies.

1. The rich and big corporations create jobs. Wrong. The middle class and the poor create jobs when they have enough money to buy. Their purchases get businesses to expand and hire.

2. The rich and big corporations need lower taxes in order to create jobs. Baloney. We tried trickle-down economics under Reagan and George W. and nothing trickled down. Why? See #1 above.

3. Raising the minimum wage to $15 will cause massive job losses. Rubbish. It will put more money into the pockets of low-wage workers, who will spend it – and thereby create more jobs. See #1 above.

4. Trade deals like the proposed Trans Pacific Partnership create jobs and raise wages. Wrong. They boost profits but put downward pressure on wages. See NAFTA.

Spread the truth.
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Robert Reich on Jobs and Wages Empty Re: Robert Reich on Jobs and Wages

Post by Original Quill Wed Feb 25, 2015 3:20 am

Robert Reich is one of the best economists around, and was US Secretary of Labor from 1993-97.  Graduate of Dartmouth, Oxford and incidentally, also a graduate of Yale Law School.

And He is one of the many fine professors at Berkeley.

Listen to him.  He is one of the leaders who burst the bubble on the 'trickle-down' theory of economic growth that had been promoted by the Reagan administration and the basis for the Bush tax cut (which proved trickle-down didn't work).  Really good man, who doesn't pull punches.

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