We Need More Jobs

Nobel prize winning economist Joseph Stiglitz appearing on Democracy Now on 7 Apr 11:

There are two ways of cutting the deficit:

Increasing revenue


Cutting expenditures

What is the best way of getting tax revenue up?

Is putting America back to work.

If America were growing, if we were back to our full potential, our output would be higher and our tax revenues would be substantially higher.  So the best way to reduce the deficit is to put America back to work.

Note that Mr Stiglitz never even hints at raising the tax rate on the top two percent.  He just makes the case for full employment.


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