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 Alliance for Peace Atlanta City-Wide Alliance
Colonial-Capitalist Fascism and Its Deadly Outcome: The State Murder of Tortuguita in Atlanta and Tyre Nichols in Memphis Are Inextricably Linked
01 Feb 2023
All acts of police violence in the US are linked to the colonial capitalist state.
All African Peoples Revolutionary Party
Closing Ceremony of the A-APRP Party Congress in Guinea-Bissau
01 Feb 2023
The First Historical Congress of the All-African People’s Revolutionary Party marked a significant moment in the Pan-African Revolution.
Black Alliance For Peace
Afghanistan News Update #16
01 Feb 2023
The latest Black Alliance for Peace Afghanistan update presents an interview with a specialist in women's movements and legal reform in Afghanistan and links on other news sources.
Kollibri terre Sonnenblume
Reckless Disregard for the Consequences of War
01 Feb 2023
The author says that the "corrupt psychos" running the West are shielded by a wall of massive disinformation.
Jeffrey Sterling
Espionage Act Like Slave-Era Anti-Literacy Laws
01 Feb 2023
C.I.A. whistleblower Jeffery Sterling, who was sentenced to 3½ years in prison, says punishing Julian Assange for publishing critical information is designed to keep us enslaved in ignorance. He gave…