Thursday, February 23, 2012
Why Do Corporations Who've Created No Jobs Need Another Tax Cut When Demand Must Be Increased First?
Don't you just love reading and listening to Robert Reich's informed opinions? He's so intelligent and down to earth in his almost intimate conversations about national economic policy. Don't you wonder what Obama's term would have been like if he'd surrounded himself with people like Bob Reich? It would have been differently accomplished, that's for sure.
Are you wondering what Obama could be thinking (other than just giving the rightwing more of what they've been demanding on Fox Propaganda (not news) shows in order to create "more" largely nonexistent jobs)?
Dr. Robert Reich, professor of economics and past Secretary of Labor does. And he thinks it's exactly the wrong choice to make as corporations are sitting on unspent trillions of cash just looking to be used already for investments in this country, and they are paying the lowest tax rates ever with corporate tax receipts as a share of profits at a 40-year low.
So why isn't Obama proposing a tax hike (modest, of course) on these corporations and a further stimulus that will help them create those needed jobs, which will provide the needed demand for a healthier rebounding economy?
I fear its because this country has "jumped the shark" with the enabled power-crazed in Congress being able to refuse to do anything that doesn't further enrich themselves and knowing that the mere citizens' representatives (Obama in the lead) will do nothing about it except negotiate away in the face of paid-off crazy talkers even more of the dwindling public trust.
These are perilous times, folks. And it all happens now.