Thom Hartmann: For Economic Stability, Follow the French

[unhappycamper]

http://smirkingchimp.com/thread/thom-hartmann/53429/for-economic-stability-follow-the-french

For Economic Stability, Follow the French
by Thom Hartmann | December 31, 2013 - 11:43am

For the past 32 years, Americans have been living a lie. It's a lie that helps out rich people and screws working people, and it's a lie that needs to be called out.

The people promoting this lie - most all of them rich people themselves - have been so good at promoting this lie that pretty much everybody believes it. It's even asserted as fact, without contradiction, in the mainstream media. But it's a lie.

The lie is that raising income taxes on rich people and hugely profitable companies hurts economies and even leads to unemployment. The truth is that raising income taxes on rich people and hugely profitable companies actually helps economies and causes companies to hire more and more people, thus lowering unemployment.

What makes this lie particularly relevant right now is that the French Constitutional Council - their court that decides what's constitutional and what's not - has just agreed with the new socialist government that it's totally legal to raise the very top income tax rates on very wealthy individuals and hugely profitable corporations to 50 percent (effectively 75 percent when you add in their other taxes like our FICA that funds healthcare and retirement).

[upi402]

1. Trikle down economics is a lie

Taxing the rich reduces jobs is a lie.
Raising the minimum wage is a lie.
The hidden-hand of the 'free market' will self-regulate the marketplace... is a huge lie.

And with the media constantly spreading this fertilizer - the chickens continue to vote for Colonel Sanders.

kick/rec