Tuesday, September 30, 2014

‘The rich are not job creators’

Former Secretary of Labor Robert Reich was speaking in Seattle the other day and simply nailed it:
America has gone through “the worst, most anemic economic recovery on record” because benefits have flowed to the wealthy, with little in increased purchasing power for middle and lower-income Americans, ex-Secretary of Labor Robert Reich said in Seattle on Saturday night.

“The rich are not job creators . . . The job creators are not people at the top, but those at the middle and below,” said Reich, one of the nation’s highest profile and most progressive economists.
Pay inequality is not the only problem stemming from this corporate controlled economy - the real trickle down is what ensures the continuation of the problems we're facing:
Reich is worried at where all the money flowing to the rich IS trickling down.

“One of the corollaries of inequality is all of that money coming down and corrupting our politics,” said Reich.

He described the U.S. Supreme Court’s 2010 Citizens United decision, which reversed 103 years of regulating corporate money in politics, as its worst since the 1857 Dred Scott decision, in which the court ruled that slaves could not be American citizens and had no standing to sue in federal courts.

Reich had warm praise for a pair of policy actions at the local level, namely Seattle’s recent decision to adopt a phased-in $15-an-hour minimum wage as well as the city’s paid sick leave ordinance.

Seattle is “setting a beacon light for the rest of the country,” said Reich, adding: “The amazing thing is why other cities and other places have not done it.”
Now think about this and look at your elected officials...Do you really think that Scott Walker or Chris Abele are on your side? If so, think again.


  1. Dah! Mr Reich is a brilliant individual and it is most unfortunate that his talent is ignore by the national govt.
    The job creators are the consumers everybody understands and believes that even the people who deny it publicly

  2. Capper, thanks.

    What we have under plutocrats is "Demand Leakage."

    "Demand Leakages: The 800lb Economist in the Room"