Robert Reich explains the economy in 2 minutes.

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#1 Fri, Jun 17, 2011 - 12:29pm
Paladex
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Robert Reich explains the economy in 2 minutes.

Here's former Labor Secretary Robert Reich's take on the economy. I like his presentation, and I'm impressed with his scribble-toons.

https://www.youtube.com/v/JTzMqm2TwgE?version=3

Edited by: Paladex on Nov 8, 2014 - 5:07am
Fri, Jun 17, 2011 - 8:55pm
Brotha Bob
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"due to inflation ......."

That's the issue right there. Inflation, or devaluation is causing the death of the middle class.

May God Help Us All But, what do I know?
Fri, Jun 17, 2011 - 9:04pm (Reply to #2)
dropout
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Only a part of it. Good

Only a part of it.

Good video. The wealth transfer continues. The middle class is being destroyed.

Sat, Jun 18, 2011 - 1:05am
henry
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Robert Rrrreishittt

REALLY! He thinks the tax rate is not high enough? The truth.. how about a 14.5 trillion dollar spending problem.

Connect the dots... Bob!

Sat, Jun 18, 2011 - 2:20pm
Captain Silver
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Video

The sad part is while he has a lot of info for the masses in this video, even his simplistic explanation with snazzy charts and graphs will go right over the head of his intended audience. I disagree with his tax rate thesis, but overall a good video to send to folks who don't get it.

It does continue to push class warefare a bit, which may very well be Obama's most damaging legacy (when he defines most small business owners as "rich" to the unruly masses)

Our monetary system has been hijacked by morons! Abandon ship!!!!
Sat, Jun 18, 2011 - 6:25pm (Reply to #4)
Jake
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Robert B Reichhhhhhhhlittleshitt

henry wrote:

REALLY! He thinks the tax rate is not high enough? The truth.. how about a 14.5 trillion dollar spending problem.

Connect the dots... Bob!

LOL! Here's Robert B Reich pontificating in front of a captive audience with minds full of mush. He needs 5 phone books to sit at the dinner table. It's hard to take this guy seriously.

Your Silver--I Want to Buy it! Sell Me Your Silver!
Sat, Jun 18, 2011 - 8:31pm
pipewerkz
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Check out Bob Murphy's

I'm sick of the propaganda about blaming lack of taxes as being the problem. Government doesn't create, they steal everything they have. If we could ALL keep more of our money we would be much better off. The government needs to cut spending and not leave the taxpayers on the hook and blame games. Shit is getting rediculous.

Check out Bob Murphy's refute.

The Truth About Robert Reich
Sat, Jun 18, 2011 - 9:33pm (Reply to #7)
Jake
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Although it's easy to refute

Although it's easy to refute wild liberals such as Robert B Reichlittleshit, It good to see that someone was on the ball to compile REAL facts on this subject. Thanks. I hate to admit I attended the same university where he now pontificates from.

Here's a similar article:

Why 70% Tax Rates Won’t Work

https://patriotupdate.com/8208/why-70-tax-rates-wont-work

June 16, 2011

robert reich

How Many Phone Books Are You Sitting on Bob?

The intelligentsia of the Democratic Party is growing increasingly enthusiastic about raising the highest federal income tax rates to 70% or more. Former Labor Secretary Robert Reich took the lead in February, proposing on his blog “a 70 percent marginal tax rate on the rich.” After all, he noted, “between the late 1940s and 1980 America’s highest marginal rate averaged above 70 percent. Under Republican President Dwight Eisenhower it was 91 percent. Not until the 1980s did Ronald Reagan slash it to 28 percent.”

That helped set the stage for Rep. Jan Schakowsky (D., Ill.) and nine other House members to introduce the Fairness in Taxation Act in March. That bill would add five tax brackets between 45% and 49% on incomes above $1 million and tax capital gains and dividends at those same high rates. The academic left of the Democratic Party finds this much too timid, and would rather see income tax rates on the “rich” at Mr. Reich’s suggested levels—or higher.

However, the individual income tax actually brought in less revenue when the highest tax rate was 70% to 91% than it did when the highest tax rate was 28%.

In short, reductions in top tax rates under Presidents Kennedy and Reagan, and reductions in capital gains tax rates under Presidents Clinton and George W. Bush, not only “paid for themselves” but also provided enough extra revenue to finance negative income taxes for the bottom 40% and record-low income taxes at middle incomes.

Your Silver--I Want to Buy it! Sell Me Your Silver!
Sat, Jun 18, 2011 - 9:47pm
Sockeye
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Glad to hear that having 4 or

Glad to hear that having 4 or 5 wars at once with millions of standing army all around the world cost nothing. And I guess those multimillion to billion dollar fancy guided missiles and bombs and airplanes come from Santa Claus as free presents.

I am almost always wrong. But the fun in life is those few times when I am right.
Sun, Jun 19, 2011 - 12:55pm (Reply to #9)
pipewerkz
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War is peace

Sockeye wrote:

Glad to hear that having 4 or 5 wars at once with millions of standing army all around the world cost nothing. And I guess those multimillion to billion dollar fancy guided missiles and bombs and airplanes come from Santa Claus as free presents.

Sheep: War is good for the economy.

Me: No, War is not good for anyone except the military industrial complex.

Sheep: World War II got us out of the depression

With the masses having this type of logic under their belts, taught to most of us in our government run schools no doubt, it's a wonder why we don't just go around the world starting wars everywhere.... Oh, wait...

Sun, Jun 19, 2011 - 1:00pm (Reply to #5)
pipewerkz
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.

Captain Silver wrote:

The sad part is while he has a lot of info for the masses in this video, even his simplistic explanation with snazzy charts and graphs will go right over the head of his intended audience. I disagree with his tax rate thesis, but overall a good video to send to folks who don't get it.

It does continue to push class warefare a bit, which may very well be Obama's most damaging legacy (when he defines most small business owners as "rich" to the unruly masses)

All of the reasons you listed are the reason this video sucks and is propaganda. I think the sad part is the fact that the masses WILL understand it but in reality they've been taught the wrong thing, again.

So for the love of god lets hope it goes right over their head and they get their info from somewhere else.

Sun, Jun 19, 2011 - 5:51pm
DigMyEarth
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RR

Well, class warfare is here whether we like it or not. Ironically, had the money been spread across a much larger tax base (larger than 1%, say), the tax revenue would've come in closer to a 25% rate rather than a 17% rate (if we are to believe Reich's numbers).

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