true dat-- you can throw money forever to a "job creator" and not one damn job will be created until said creator has work that needs to be done.
If you want gummint cash to accelerate through the economy, don't give tax money back-- order new stuff from the guys who make stuff. The rich guys will be happy to make more money, jobs will be created, and the gummint might even get more tax money after it's all done. It's a win all around except for ignorant teabaggers and Republicans who want to see Obama crash and burn.
(BTW, It kills me that the Defense Department is the biggest jobs program we have)
years to get classic micro and Keynesian macro, although our Eco chairman told us in the beginning that none of it really made sense and there was a Nobel waiting for one of us who could come up with some scheme that actually worked.
The rest of the b-school economics at City College was about making a buck, and we were constantly reminded that any economist who tried too hard to explain or, worse, prophesy was most likely a fraud or a fool-- accuracy was for the accounting majors, not us eco majors.
(Laffer and his ilk seem to have been both fraud and fool.)
Co-chair emeritus of the Econ Dept and DEEP Keynesian. Loved that woman. Once said (latter Reagan years), "You want to fix the government, put this Bubbe in the whitehouse and make them come to me to ask permission for every thin dime" </brooklyn accent>
She would have done it, too. I wish I had paid more attention to her positions and not just her engaging personality. Who knew - she was a lone wolf, but she was right.
Nice to 'meet' someone else who has been there.
or shall I say "richer".