Robert Reich: 'Trickle-down economics is bunk — the rich do not create jobs' - Viewpoint with Eliot Spitzer // Current TV
Labor Secretary Robert Reich, a professor at the University of California, Berkeley, talks to “Viewpoint” host Eliot Spitzer about the impending fiscal cliff and House Speaker John Boehner’s pledge to reduce the deficit and not raise taxes on anyone, including the rich.
Reich argues Boehner’s strategy couldn’t possibly reduce the deficit: “Even if they were to come up somewhere down the road with some loophole closers, some deduction limits, that’s still mathematically not going to do it.”
“The middle class creates jobs through their spending, through their consumption. That’s the way an economy works.”