Robert Reich – 7 Biggest Economic Lies

Raw Story has provided the transcript for Robert Reich’s video 7 Lies.

1. Tax cuts for the rich trickle down to everyone else.
2. Higher taxes on the rich would hurt the economy and slow job growth.
3. Shrinking government generates more jobs.
4. Cutting the budget deficit now is more important than boosting the economy.
5. Medicare and Medicaid are the major drivers of budget deficits.
6. Social Security is a Ponzi scheme.
7. It’s unfair that lower-income Americans don’t pay income tax.


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