Welcome to the Vitus Capital Blog!
Notes to myself, possibly of interest to others.
-- Bill Northlich

Friday, March 12, 2010

Reich - The Sham Recovery (if you are not a millionaire)

...supply-side fanatics [argue that] government needs to cut taxes on big corporations in order to spur the recovery. Their argument is absurd on its face. Big companies don’t know what to do with all their cash. They aren’t investing it in new plant and equipment and new jobs. So why should the government cut their taxes and enlarge their cash hoards even more?
---Robert Reich, "The sham recovery", 3/12/10
...Bill: The original is a good read (if you are not a supply-sider). He points out other faulty current optimistic toss-offs: Eg, That the stock market snap-back has got people's net worth rising again. In fact, most people's net worth is/was in their houses...

No comments:

Post a Comment