Robert Reich describes what’s wrong with the economy in 2 minutes.
- The economy doubles since 1980, but wages flat. Where did the money go…
- All (or most) of the gains went to the super rich.
- With money comes political power.
- Taxes on super rich slashed, revenues evaporate.
You might disagree with his economics and/or his politics, but the guy can DRAW!
One prob with this video. He blames the lower tax rates for the wealthy for huge deficits. That is flawed logic. It’s not like these lower tax rates (and the accompanying lower revenues at times) are something brand new. Even the video says this phenomenon has been around since the 1980’s. The problem is the continued spending above the available revenue threshold since the 1980’s.