But we're not hearing any such demand-side solutions from the White House.
To the contrary, Obama is putting forth Republican supply-side ideas - lowering the employer costs of hiring, cutting corporate taxes - that have nothing to do with the demand-side crisis. He may attract enough Republican votes to enact these, but what's the point if they're irrelevant to the real problem?
The president's putative embrace of the false notion that businesses need more financial incentives in order to hire also risks giving legitimacy to other Republican supply-side nostrums. House Republicans and GOP presidential aspirants are calling for lower taxes on corporations and on the rich.
He just doesn't support it in the language of the right, often claims to advocate the opposite, and progressives either aren't paying attention or are in denial or something.
I don't agree that keeping corporate tax rates low is supply-side economics a la Reagan. He's doing it in lieu of bring down the top income tax rate.
Lowering corporate tax rates to stimulate growth is a strategy not simply confined to supply siders. In fact, it was recommended by Keynes as well.
The supply side innovations were the Laffer Curve and income tax cuts for the top few percent.
It's not uniquely a supply side solution. Keynes specifically stated that government must intervene by replacing lost demand through both direct spending and non-regressive tax cuts; ie, like cutting payroll taxes.
Cutting income taxes for the rich is the supply side solution....to basically everything.
It is difficult for any decent person to sit back and not comment on the anti-Semitism,racism ,sexism ,and all-around ignorance espoused on the majority of DA's posts,it's fucking sad when one gets a warning for simply being a decent person.
When will the world learn that a million men are of no importance compared with one man? [Henry David Thoreau]
Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration.
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