7 Biggest Republican lies about the economy torn apart in 3 minutes - Robert Reich

http://www.addictinginfo.org/2016/03/13/the-7-biggest-republican-lies-about-the-economy-torn-apart-in-three-minutes-video/

The 7 Biggest Republican Lies About The Economy Torn Apart In Three Minutes (VIDEO)

March 13, 2016 8:32 pm ·

In two-and-a-half minutes, former U.S. Secretary of Labor Robert Reich destroys the seven biggest economic lies told by Republicans.

In the short video, uploaded to YouTube by MoveOn, Reich uses facts to shred the Republican myth of trickle-down economics.

While Republicans tell us that cutting taxes on the rich will spur economic growth and fuel job creation, the economic data tells a very different story. As Reich points out in the video, both Ronald Reagan and George W. Bush cut taxes on the rich, and “nothing trickled down.”

The result of Republican tax cuts for the rich have been the same across the states. GOP governors like Bobby Jindal andRick Snyder have driven their states into economic ruin by imposing experimental trickle-down economic policies on citizens, with disastrous results.

Along the same lines, Republicans claim that high taxes on the rich are bad for the economy. Yet history shows the opposite is true.

Until 1980, taxes on the top earners in the U.S. were 70 percent. It wasn’t until Republicans started cutting these tax rates that economic growth began to slow.

Reich also tackles the myth that shrinking government creates jobs. The idea that we create jobs by firing people who already have jobs literally defies reason, but that hasn’t stopped republicans from pushing it. It doesn’t take much to destroy this lie.