Most of you know that I am a fan of Robert Reich. When things get shaky, Reich is a good pillar of sound economic advice. As we move into round two of MAGA economics we can be sure that we will be hearing many of the following myths being barfed out by MAGA who will act as if what they spew is commonly accepted truths.
The following myths are just that, myths. They have been disproven over and over. So when you hear a MAGA politician or a far right wing talking head deliver one of these myths in an answer or in a speech you will know that it is just BUNK!
The top ten myths debunked by former Secretary of Labor Robert Reich: (27 minutes)
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Economics is objective. – BUNK!
- Government obstructs the free market. – BUNK!
- Income and wealth are deserved. BUNK!
- Political donations are free speech. BUNK!
- The market is fair. BUNK!
- Global trade benefits everyone. BUNK!
- Taxing the rich is socialism. BUNK!
- Corporate tax cuts create jobs. BUNK!
- Wage increases cause inflation. BUNK!
- Unconstrained economic growth is good. BUNK!
Bonus) Trump supporters are ignorant. Bunk!
I love to have such a concise video that puts all the garbage into one pail. This may be a video you will want to refer back to occasionally during the MAGA term as Trump and cohorts do all they can to move money from the US Treasury to the wealthy. Reverse Robin Hood (stealing from the poor to give to the rich will be in vogue in a couple of weeks.
Each point that Reich outlines feels like a stab to my soul, but one in particular sticks out is point #3 – that income and wealth are deserved. The opposite side of that coin is that the poor deserve their lot in life. Trump’s nominee Mehmet Oz has openly said that:
Mehmet Oz, President-elect Donald Trump’s pick to lead the Centers for Medicare and Medicaid Services, once said the uninsured “don’t have a right to health.”
Oz is hardly a loner among MAGAs holding that view. This view is what has stalled so many improvements that could be made in the US, but some “undeserving person” such as a brown skinned person might benefit from such improvement. Health care comes immediately to mind.
We know that the above myths do not work. We have decades of proof that they only work for certain groups (wealthy) in our society. Those groups will once more be bellying up to the federal trough for more and will probably get it.
President Biden broke the set up by putting money in at lower levels and the spending by the poor and middle class have fueled an amazing economic recovery from previous MAGA policies. Now we will watch the reverse happen.
In his daily newsletter for Thursday, Thom Hartmann took a look at MAGA economic policies and the negative effects on th poor and middle class. He concluded:
At the end of the day, all Republican politicians care about is money. Greed is their principle animating force, and what binds them to their morbidly rich donors.
The greed embraced by Republican politicians — and the billionaires and CEOs who fund them — is why average Americans can’t have nice things. It’s why we and our children must walk the tightrope of life without the same safety net other countries — from Canada to Costa Rica, France to Taiwan — offer their citizens.
It doesn’t matter to Republican politicians how many Americans die unnecessarily, how many of our fellow citizens struggle in misery and poverty, how many children’s growth is stunted or bodies and brains are poisoned by industrial and mining waste being poured into our air and rivers or terrified by active shooter drills in our schools.
It’s a safe bet that over the next four years Trump and Republicans in Congress will not give my listeners an opportunity to win that contest.
As long as the money keeps rolling in and the GOP’s billionaire patrons keep paying less than 3 percent in income taxes, greed is all Republican politicians care about or are willing to fight for.
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