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kentuck

(111,104 posts)
Sat Sep 5, 2015, 04:08 PM Sep 2015

Why The Three Biggest Economic Lessons Were Forgotten - Robert Reich

http://robertreich.org/post/76339971895

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First, America’s real job creators are consumers, whose rising wages generate jobs and growth. If average people don’t have decent wages there can be no real recovery and no sustained growth.

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Second, the rich do better with a smaller share of a rapidly-growing economy than they do with a large share of an economy that’s barely growing at all.
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Third, higher taxes on the wealthy to finance public investments – better roads, bridges, public transportation, basic research, world-class K-12 education, and affordable higher education – improve the future productivity of America. All of us gain from these investments, including the wealthy.

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Why The Three Biggest Economic Lessons Were Forgotten - Robert Reich (Original Post) kentuck Sep 2015 OP
K&R. Elwood P Dowd Sep 2015 #1
Kickety rec hifiguy Sep 2015 #2
Precisely Sherman A1 Sep 2015 #3
He's always right. When will regular americans start listening? lindysalsagal Sep 2015 #4
No! Elwood P Dowd Sep 2015 #5
In a capitalist society the money is almost always going to rise to the top. A Simple Game Sep 2015 #6
tinklebell & greed. pansypoo53219 Sep 2015 #7
Yep The "redistribution" arguments all miss this. DirkGently Sep 2015 #8
K&R laundry_queen Sep 2015 #9
Thwarting The Big Lie With Facts colsohlibgal Sep 2015 #10
There is no "democratic socialism" in Scandinavian countries. former9thward Sep 2015 #11
 

hifiguy

(33,688 posts)
2. Kickety rec
Sat Sep 5, 2015, 05:14 PM
Sep 2015

As usual, Reich hits the dead center of the target.

I hope to see him in a prominent role in the Sanders administration.

Elwood P Dowd

(11,443 posts)
5. No!
Sat Sep 5, 2015, 05:53 PM
Sep 2015

Half of 'em are convinced by Fox Fake News and hate radio (Limbaugh) that all their problems are the fault of them libruls, them coloreds, and them furreners. Only a depression will wake up those idiots.

A Simple Game

(9,214 posts)
6. In a capitalist society the money is almost always going to rise to the top.
Sat Sep 5, 2015, 06:28 PM
Sep 2015

The 1% can keep gaining money at the present rate which is unsutainable or they can share the wealth with the workers and gain at a more sustainable rate of 3% to 5%. There will always have to be an adjustment when too much money is amassed at the top or the system will collapse, but we got rid of that when we did away with the inheritance tax. That will end up being a big mistake if not corrected.

Very simplified but you get the idea.

DirkGently

(12,151 posts)
8. Yep The "redistribution" arguments all miss this.
Sat Sep 5, 2015, 06:55 PM
Sep 2015

We're already redistributing resources -- that what civilization IS. The only question is, how do we do that so that it works best?

Empowering the already-empowered and enriching the already-rich not only doesn't work for those with less to begin with; it ultimately doesn't work AT ALL.

Have to wonder why people get behind trying to pay workers as little as possible, when they're the ones spending the money keeping the whole thing going. A few elites buying gold-plated yachts every now and then don't keep the economy circulating. Starve Walmart employees enough, and Walmart goes broke.

It's not just greed we're dealing with; it's *short-sighted greed.*

colsohlibgal

(5,275 posts)
10. Thwarting The Big Lie With Facts
Sun Sep 6, 2015, 03:54 PM
Sep 2015

The right wing pundits and politicians often say that democratic socialism has been a proven failure I shake my head in astonishment. No lie is too big for them I guess.

It has worked in Scandinavia and to a large extent here from FDR until Reagan started undoing it big time. Of course low info citizens who only watch Fox News do not know that, they only know what Fox tells them - which is why they are low info.

former9thward

(32,028 posts)
11. There is no "democratic socialism" in Scandinavian countries.
Sun Sep 6, 2015, 04:31 PM
Sep 2015

And none in the U.S. from FDR to Reagan. Those countries are all capitalist based market economies as is the U.S. They have large social welfare programs. We, less so.

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