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Robert Reich

Video ... Robert Reich - 3 Economic Myths - 2015

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Peter Burgess

Robert Reich - 3 Economic Myths - 2015

https://youtu.be/6xtOZjSju1E

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Published on Jul 30, 2015

Robert Reich in his usual fashion breaks down quickly three things that we automatically take for granted that are actually false.

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Transcript

English (Automatic Captions) 0:00most Americans haven't had a raising year that corporate profits are at 0:08record highs and CEO pay is in the stratosphere 0:12so why don't we do something about it because we've accepted three dangerous 0:17mythology's that prevent us from seeing what's really happening and post false 0:21choices we need to see the truth so we can understand the real choices ahead 0:26myth number one the job creators are CEOs of corporations and the rich whose 0:31taxes must be low in order to induce them to create more jobs rubbish the 0:37real job creators are the vast middle class and poor who spending induces 0:43businesses to create jobs which is why raising the minimum wage extending over 0:48time protection and large in the end income tax credit and reducing 0:52middle-class taxes are all necessary and the only way we can afford to do any of 0:57this is to raise taxes on corporations and the rich this number to the critical 1:03choice is between the free market or government Bologna the free market 1:09doesn't exist in nature 1:11it's created by government by legislators administrative agencies and 1:15courts and it's enforced by government all the ongoing decisions about how the 1:21market is organized what gets patented and patent protection for how long the 1:25human genome who can declare bankruptcy corporations homeowners student debtors 1:31what contracts are fraudulent insider trading or coercive predatory loans 1:38mandatory arbitration and how much market power is excessive comcast and 1:44time warner for example all of these decisions depend on government this 1:50number three we should worry most about the size of government we should worry 1:56about who government is for big money from giant corporations and Wall Street 2:00inundate our politics all decisions relating to whose tax number one and how 2:06government is organized number to become biased toward those 2:10the top right now the game is rigged and it can only become unrigged if you know 2:16the truth and join with others to demand a government that works for the many not 2:22a few