Robert Reich Playlist

Not many economists agree with Reich on his analysis, however, he makes more sense to me than any of the President's men. Now that Larry Summers appears to be resurrected by the Obama administration, I am even more skeptical of what will come out of this administration. 

Reich claims corporations and big business are not what creates business, it is demand for products that makes production of goods and services possible. At present the middle class is unable to have discernable dollars with this austerity notion. Invest in people by creating jobs with living wages, then demand for goods and services will rise, and growth will begin. 

Investment in infrastructure is a one time thing to bring roads, bridges, hospitals, schools, and these put people to work. Once the economy grows, taxes can carry repair and replacement forward. 

Not taxing wealth and financial transactions and because such enterprise is now globalized, big corporations and business can hide income, avoid paying taxes to any country, and enjoy the benefits of those things that small business and wage earners now pay in full.  

Putting the burden of public costs on small business and not supporting their enterprises leaves them without the supports they need. A failed small business benefits no one except big businesses. 

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The correct word should be "discretionary dollars".




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