Obama: Why Reaganomics Didn't Work. Spread the Wealth

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Obama is right. We did not need Reaganomics in the 80's or since. All that has happened is a widening of the gulf between rich and poor. When taxes are high, people and corporations are MORE likely to spend on employees---not LESS. This is because a legal method of tax avoidance is payment of wages and benefits and decision makers would rather spend on people than on taxes. The lower the taxes, the greater the incentive to lay them off and outsource to China, keeping a windfall.

Nonsense, you say? Bad unconventional economic theory? No, you were just duped for 28 years. But you got yourself a lot more billionaires to idolize.

of @ Oct 21, 2008 14:00:34 PM

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Capital Commerce

Capital Commerce

U.S. News business reporter Matthew Bandyk examines the issues, people, and debates that shape the nexus of political and economic life in the nation's capital.

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