The wealthy don’t create jobs – customers create jobs. The worker's share of national income is collapsing. No matter how many tax cuts you give the rich and corporations they are not going to create any jobs if the customers have no money to buy the stuff they make. George HW Bush was right; it is "VooDoo Economics." Even the inventor of supply side economics, Ludwig von Mises, admitted it was a scam before he died but it is still a conservative mantra.
Tuesday, June 14, 2011
Shrinking Worker's Income
The wealthy don’t create jobs – customers create jobs. The worker's share of national income is collapsing. No matter how many tax cuts you give the rich and corporations they are not going to create any jobs if the customers have no money to buy the stuff they make. George HW Bush was right; it is "VooDoo Economics." Even the inventor of supply side economics, Ludwig von Mises, admitted it was a scam before he died but it is still a conservative mantra.
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