Robert Reich is a Moron

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"The Truth About the Economy" is a classic video from MoveOn and Robert Reich. In it, Reich -- an "economist" -- complains that since 1980, our wages (excluding the super-rich) have "barely increased" despite a much larger economy.

There's a lot that can be said about his arguments, such as the fact that he doesn't factor in the rise of the size of the labor force, and that staying flat according to inflation is actually pretty good. But the funniest part is when he later in the video argues that our "anemic recovery" is caused by a reduction in "purchasing power." But he just said we have a "barely increased" purchasing power.

I could spend a lot longer than two minutes and 15 seconds ripping this video apart. But have it yourselves. You might want to cover his assertion that low tax rates created low revenues, even though they are the same tax rates we had before, with higher revenues. Or his awesome assertion that rich people have all the political power which means lower taxes and less money to go around, which means massive cuts ... even though we are spending more money than ever.

My favorite part would probably be that he blames civil unrest between different groups on high taxes, as the middle class fights over "scraps" (where "scraps" means "barely increased" of what was available in 1980, apparently).

Reich, if you're reading this: you disprove your own claims when you admit that our wages have increased. We are better off. The problem is that government -- which has continued to live off debt and deficit increasingly since 1980 -- is now incapable of continuing on its path. And you want to scare people into thinking that soaking the rich will solve the problems, when we know it can't.

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This page contains a single entry by pudge published on June 16, 2011 12:20 PM.

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