Robert Reich: The Seven Biggest Economic Lies (Why the Jobs Bill Will Die)

[pampango]

The President’s Jobs Bill doesn’t have a chance in Congress — and the Occupiers on Wall Street and elsewhere can’t become a national movement for a more equitable society – unless more Americans know the truth about the economy.

Here’s a short (2 minute 30 second) effort to rebut the seven biggest whoppers now being told by those who want to take America backwards. The major points:

1. Tax cuts for the rich trickle down to everyone else. Baloney. ...
2. Higher taxes on the rich would hurt the economy and slow job growth. False. ...
3. Shrinking government generates more jobs. Wrong again. ...
4. Cutting the budget deficit now is more important than boosting the economy. Untrue. ...
5. Medicare and Medicaid are the major drivers of budget deficits. Wrong. ...
6. Social Security is a Ponzi scheme. Don’t believe it. ...
7. It’s unfair that lower-income Americans don’t pay income tax. Wrong. ...

Demagogues through history have known that big lies, repeated often enough, start being believed — unless they’re rebutted. These seven economic whoppers are just plain wrong. Make sure you know the truth – and spread it on.

http://robertreich.org/post/11329289033

[Syrinx]

1. didn't it already die yesterday?

[doc03]

2. No the new trade deals to ship more jobs offshore will pass n/t

[closeupready]

6. Reich helped sell that "free-trade-in-name-only" orthodoxy during the debate over NAFTA.

His opinions are, for me, tainted by that record.

[pampango]

7. He has that European/FDR view that more trade is liberal and that high tariffs

are conservative/nationalist view.

Current republicans (except for teabaggers) have jumped ship on the Fordney/McCumber/Coolidge (1922) and Smoot/Hawley/Hoover (1930) high tariffs are good for the country mentality, but FDR in his day and the EU never believed that.

[Tennessee Gal]

3. He is right on every single point.

This should be spread far and wide.

[Indydem]

4. I didn't know he could draw.

Not great, but better stick figures than I could make.

[SHRED]

5. K&R

[demmiblue]

8. K&R

:kick:

No rec... over 24 hrs. :(