The GOP loves blaming the deficit on Social Security and Medicare. But the real culprit is giveaways to corporations and the rich. If not for the regressive tax cuts under Bush and Trump, we would have a stable debt-to-GDP ratio. That's one thing the GOP will never tell you.
Mr. Robert Reich's deep entrenchment within the United States government, the world's largest corporation, sparks legitimate concerns about his accountability and effectiveness. As a prominent figure among the Democratic elite, his alignment with the party's policies, especially regarding corporate taxation, comes under intense scrutiny. The proposal to hike corporate taxes, championed by Reich and his cohorts, draws fierce criticism for its potential to burden American consumers. Despite the foreseeable repercussions, Reich's apparent disregard or downplaying of these consequences raises doubts about his true intentions. In stark contrast, Republicans advocate for slashing government expenditure and implementing sweeping tax cuts to fuel economic expansion. With all due respect, Mr. Reich refrains from imposing his ideological agenda on the American people. Instead, he should trust in the resilience and dynamism of the free market to drive economic progress with greater transparency, accountability, and, ultimately, prosperity for all Americans.
@RBReich It would seem Republicans represent businesses & people who want to keep what they earn and Democrats represent businesses & people who want money they didn't earn from the government. Neither does a very good job. Maybe the federal government should just be abolished.
@RBReich GOP seems not to think ahead. If GOP is successful in removing Social Security & Medicare, having nothing to do with National Debt, who will it blame for increasing deficit when it occurs? How will they blame the millions of displaced seniors & disabled who lose benefits & die?
@RBReich Robert, I do not have the reach to get this out. Reagan put the deficit bs to bed in 1984. But no one is using this clip.
@RBReich "If not for the regressive tax cuts under Bush and Trump..." Let's not forget Reagan. Yellow highlight is his dirty work.
@RBReich This tracks outlays (red line) vs. receipts (blue) as % of GDP, 1947-2023. Receipts decline from recessions (gray bars), but have varied w/in a narrow range (2nd highest %: 2022 [19.4%]. Real story: contra RBR, red line basically took off starting in 1970s, piling up debt.
@RBReich How about we get rid of the politically motivated wasteful spending just to see if that works. Steal more money is a default. Ques asked