Robert Reich: The Truth About the Economy

Robert Reich connects the dots on the economy… Take two and a half minutes and watch this awesome video from Robert Reich: The Truth About the Economy:

Somethings got to give… Americans need jobs.

Let’s get moving on this Congress… Mr. President! Politicians need to not be acting like, “hey wake me when the recession is over.”

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About Pamela Leavey

Pamela Leavey is the Editor in Chief, Owner/Publisher of The Democratic Daily as well as a freelance writer and photographer. Pamela holds a certificate in Contemporary Communications from UMass Lowell, a Journalism Certificate from UMass Amherst and a B.A. in Creative Writing and Digital Age Communications from UMass Amherst UWW.
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2 Responses to Robert Reich: The Truth About the Economy

  1. Scott Nance says:

    I love Bob Reich. He is 100% right, of course. Chris Hayes was sitting in for Lawrence O’Donnell the other night. He reported something. The CEO of Comcast’s top worry isn’t NetFlix or other competitor. It is poverty. As poverty grows, folks turn off the cable TV. We in the middle class need $$$ to buy the crap rich folks sell, so the rich folks actually can have some money. I am amazed rich folks don’t get that.

  2. Alex Hamilton says:

    “The Truth About the Economy” according to Bob Reich is shoot everyone who saves and invests, especially those who have contrived through special tax breaks essentially to avoid any contribution to the financing of the many vast and wasteful works of the federal government. This citizen doubts it.

    Rather the solution will only be found in the reversal of ill-considered trade, domestic, and foreign policies.

    Reich asserts the U.S. needs more jobs and that is self-evident; but just how he translates punitive taxation of the high income receivers into more jobs is unclear.

    No, Bob, the dearth of jobs in the U.S. derives almost directly from the adoption of NAFTA and Free Trade policies with China, et. al. along with the junking of U.S. anti-trust enforcement laws both of which disastrous policies were birthed during the Clinton years in which you were a notable participant.

    In many cases these Super Rich individuals you now attack were spawned by their bright idea of combining any and every company in sight for obvious “synergies” i.e. reductions in head count or rather firing hard-working Americans from jobs that earned them a Middle class existence.

    The second jobs killer was the similar “brilliant” idea on the part of management to outsource abroad and especially to China and Mexico (NAFTA). With labor costs at slave labor levels, etc. American capitalists fairly salivated at these prospects for earnings. (Further, no unions, OSHA, environmental activists, etc. as in the U.S.)

    American tariffs were also reduced to a non-factor level thanks to a corrupt Congress bought by the American Zaibatsu, and the stupid idea that the competitiveness of the U.S. was unchanged from the post WWII years.

    To ensure that these attractions were even more enticing, the Chinese manipulated the value of the Renminbi to keep it under-valued vis-a-vis the dollar and this travesty is maintained even today thanks to the succession of “cooperating” U.S. Finance Ministers–much to their shame and betrayal of the American people.

    And the dirty little secret is simply that many of those MNC Oligarchs and big rich will have it no other way since they have a community of interest with the Chinese in their greed for profit and the destruction of the U.S.

    Not satisfied with these advantages over home competitors in the U.
    S., all earnings abroad are also tax free until remitted to the U.S. And now, and now, still not satisfied, on two past occasions when sums become so large the Oligarchs desired to remit they instruct their corrupt Congress to sharply reduce the statutory rate by about half. (A third raid on the Treasury is pending even now.)

    One submits, Bob, that any CEO worth his vast income and perks would be insane to lay down new plant in the U.S. given the above and other considerations. And folks wonder: where are the jobs?

    So again one submits your idea of just taxing rich individuals ain’t gonna git er done! Since you were LaborSec under Clinton/Gore, you Sir, must be awarded your share of the credit for such misguided policies as these. Shame! Shame!

    Perhaps Citizen Ross Perot was not entirely wrong, afterall! While the sucking sound he spoke of was never audible, the practical effects should be obvious to anyone with an eye to see and anyone looking in vain for a manufacturing job in the U.S. today.