Robert Reich Debunks 6 Big GOP Lies About The Economy
Worth watching. The lies are these – (watch the video to see how he debunks them):
- Tax cuts for the wealthy and corporations will trickle down to benefit the middle class and the poor. Corporations are having higher profits now than we have seen in 35 years. Ratio of profits to wages is higher now than it ever has been since before the Great Depression of the 1930s.
- If you shrink government you create jobs. (No, you get rid of jobs that way.)
- High taxes on the rich hurts the economy. (No, the economy grew when the US did this under Eisenhower.)
- Debt is to be avoided and it is mostly caused by Medicare. (No, if debt is properly used to grow the economy, it becomes a smaller part of the budget because of increased revenue and Medicare has the lowest overhead of any health insurance plan out there.)
- Social Security is a Ponzi scheme (No, its solid for 26 years. Social Security is solid beyond that if the rich pay the same percentage in social security taxes as the rest of us do.)
- We need to tax the poor. (This is what Republicans have been proposing when they say any “tax reform” needs to involve all Americans because poor people pay no income tax. The poor have no money and taxing them will not solve our budget problems.)