Robert Reich – 7 Lies

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[Robert Reich - 7 Lies]

[Robert Bernard Reich (June 24, 1946)] Source: LYBIO.net
Big lies start to be believed unless they are rebutted with the truth. Here are the 7 biggest economic whoopers and the facts in 2 minutes and 30 seconds.

[Lie #1]
Tax cuts to the rich trickle down to the rest of us.

[Robert Reich]
Wrong, both Ronald Reagan and George W. Bush, cut taxes on the rich and nothing trickled down. In fact adjustment for inflation the Median Hourly Wage stagnated and dropped.

[Lie #2] Source: LYBIO.net
High taxes on the rich hurt the economy.

[Robert Reich]
No! Look at history. The top tax rate was over 70% between world war II and 1980 and the economy grew faster than it has since. Small business owners create the most jobs won’t be deterred by higher taxes. Fewer then 2% of them are in the top tax bracket.

[Lie #3]
If we shrink government we’ll create jobs

[Robert Reich]
No! A smaller government means fewer teachers, firefighters, social workers, police officers and everyone else who delivers public services and fewer jobs for everyone working in companies that government pays to build and maintain roads, bridges, transit systems and schools.

[Lie #4] Source: LYBIO.net
Cutting the budget deficit is more important now than boosting the economy with additional spending.

[Robert Reich]
Wrong! The long term goal is to reduce the debt as the percent of the economy. Unless we get jobs and growth back that ratio worsens so we need jobs and growth before we cut anything.

[Lie #5]
Medicare and MediCaid are killing the budget.

[Robert Reich]
No! There costs are rising because health care costs are rising and the best way to get health care costs under control is to use Medicare bargaining leverage to get lower prices on drugs, medical supplies and hospitals and to move from fee for services to fee for healthy outcomes and because Medicare has lower administrative costs than private insurance then open Medicare for everyone.

[Lie #6]
Social Security is a ponzi scheme.

[Robert Reich]
Wrong! It’s solid for 26 years and would be for the next century if we lifted the ceiling on incomes subject to security payroll taxes.

[Lie #7] Source: LYBIO.net
It’s unfair that lower income Americans pay lower income taxes.

[Robert Reich]
Wrong! The unfairness is lower income Americans pay a much bigger portion of their incomes in Social Security Taxes, user fees, and tolls than anyone else. And that’s the truth.

[Pass It On And Spread The Truth] Source: LYBIO.net

Robert Reich – 7 Lies. The unfairness is lower income Americans pay a much bigger portion of their incomes in Social Security Taxes, user fees, and tolls than anyone else. And that’s the truth. Complete Full Transcript, Dialogue, Remarks, Saying, Quotes, Words And Text.