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

Margaret Kimberley, BAR Executive Editor and Senior Columnist
China, Covid Origins, and War Propaganda
15 Mar 2023
A human cause of covid-19 is possible, but anti-China rhetoric is war propaganda, not scientific evidence.
Editors, The Black Agenda Review
INTERVIEW: A Talk with Sylvia Woods, 1974
15 Mar 2023
An inspiring interview with Sylvia Woods highlights the role of Black women in labor organizing and demonstrates that Black women should always be at the forefront.
Ajamu Baraka, BAR editor and columnist
On the Twentieth Anniversary of Invasion of Iraq It Must Be Clear: The U.S. is the Greatest Threat To World Peace and Collective Humanity
15 Mar 2023
History teaches that the greatest threat to peace today is the United States. No other nation creates dangers as great as those emanating from the U.S. commitment to the doctrine of Full…
Ann Garrison, BAR Contributing Editor
Forever Wars vs. Armageddon
15 Mar 2023
The call for the U.S. to end military involvements is often made in order to advocate for new wars against more powerful countries. It appears that the only choices are forever wars or the end of the…
Raymond Nat Turner, BAR poet-in-residence
Will Boss Tweet run for exercise at Lompoc or Leavenworth?
15 Mar 2023