A Real Economist (Michael Hudson) Explains Why HIgher Taxes, Not Lower Ones, Create Jobs | Black Agenda Report

A Real Economist (Michael Hudson) Explains Why HIgher Taxes, Not Lower Ones, Create Jobs

The Real News Network

02 Feb 2011

🖨️ Print Article

by the Real News Network

Barack Obama and the bipartisan quacks of Wall Street and corporate media keep telling us that lower taxes on the wealthy create jobs, the exact opposite of what real economists have known for ages. For a dose of economic sanity, Paul Jay of The Real News Network interviews Michael Hudson, a real economist, who explains how the U.S. was more prosperous and created more high wage jobs when it taxed 90% of the highest individual and corporate "earners".

Dr. Michael Hudson is, unlike the mopes you see on TV, an economist who actually predicted the real estate, subprime and general financial meltdowns of the last few years. Dr. Hudson is a financial economist and historian. He is president of the Institute for the Study of Long Term Economic Trends, a Wall Street financial analyst, and distinguished Research Professor of Economics at the University of Missouri, Kansas City. His 1972 book, Super imperialism, the Economic Strategy of American Empire is a critique of how the United States exploited foreign economies through the IMF and World Bank. He is also author of The Myth of Aid, and Global Fracture, the New International Economic Order. On today's program we discuss his newest book, in progress, the Fictitious Economy; How Finance is Destroying Industrial Capitalism, and Paving the New Road to Serfdom.

And the Real News Network is exactly what its name says. It's one of the places we at Black Agenda Report go to get OUR news. Thanks to Paul Jay.

Do you need and appreciate Black Agenda Report articles? Please click on the DONATE icon, and help us out, if you can.

More Stories

Black Agenda Radio with Margaret Kimberley
Jackson MS Organizations Petition EPA for Emergency Relief on Water System
18 Aug 2023
Brooke Floyd is co-director of the Jackson People’s Assembly at the People's Advocacy Institute.
Margaret Kimberley, BAR Executive Editor and Senior Columnist
Trump Indictment Distraction
16 Aug 2023
The latest Donald Trump indictment is no cause for celebration. The oligarchs still rule, the military industrial complex still gets public money, the criminal justice system he now faces is still…
Editors, The Black Agenda Review
LETTER: For George, The Seventh of August Movement, 1971
16 Aug 2023
A letter commemorating George Jackson speaks to the origins of Black August.
Raymond Nat Turner, BAR poet-in-residence
Manchild in the land of cotton
16 Aug 2023
Too Black
Black August for the Pendleton 2
16 Aug 2023
Black August is an important month of political education, but it should not solely be about the past. The continued existence of a mass incarceration state targeting Black people…