From Robert Reich Blog The Zero Economy Friday, September 2, 2011The Bureau of Labor Statistics reports today no jobs were created in August. Zero. Nada
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"You also have to tackle inequality. When so much income and wealth continues to flow to the very top....won’t be sufficient without enough water in the well" -- Tax.
"So what does a sane nation do when the consumers and businesses can’t boost the economy on their own?
Government becomes the purchaser of last resort. " -- Spend.
Okay, so he said spend/tax.
Yes, I know it's nuanced. But that's the basic premise. Government needs to spend more money that it gets from someone else.
That'll go over well.
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Part of stimulus actually involves creating a more stimulative tax structure.
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He said:
"You also have to tackle inequality. When so much income and wealth continues to flow to the very top....won’t be sufficient without enough water in the well" -- Tax.
"So what does a sane nation do when the consumers and businesses can’t boost the economy on their own?
Government becomes the purchaser of last resort. " -- Spend.
Okay, so he said spend/tax.
Yes, I know it's nuanced. But that's the basic premise. Government needs to spend more money that it gets from someone else.
Reply
Oh nooooose. We need to return to the tax rates under Bill Clinton. Heaven's nooooo!
;-)
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