General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWhy The Three Biggest Economic Lessons Were Forgotten - Robert Reich
http://robertreich.org/post/76339971895...
First, Americas real job creators are consumers, whose rising wages generate jobs and growth. If average people dont 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 thats 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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Elwood P Dowd
(11,443 posts)hifiguy
(33,688 posts)As usual, Reich hits the dead center of the target.
I hope to see him in a prominent role in the Sanders administration.
Sherman A1
(38,958 posts)Another great piece by Robert Reich.
lindysalsagal
(20,692 posts)????
Elwood P Dowd
(11,443 posts)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)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.
pansypoo53219
(20,981 posts)same as losing weight w/ no work.
DirkGently
(12,151 posts)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.*
laundry_queen
(8,646 posts)YES yes and YES!
colsohlibgal
(5,275 posts)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)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.