HenryL
Robert ReichReminder that the key to economic growth isn’t tax cuts for the wealthy. The secret to prosperity is investment in American workers.
When workers have more to spend, the economy grows, and businesses create more jobs.
It’s a virtuous cycle.
nitrofurano@rbreich until all jobs disappearing suddenly one day soon
Daniel Schwarz@rbreich The German journalist and media historian Wolfgang Riepl made a point: The most valuable resources of a state are its citizens. Invest in them. Cars will rust out in the streets. Even the concrete of the streets will molder. The material world is no sustainable value. People are. Give them food, freedom and education and they will rebuild or build up anything one could imagine. Even a sustainable civilisation ;-)
Gentleman Technologist@dan @rbreich isn't the whole point of the state to serve its citizens?
I mean, we're not here to serve the economy, the economy is here to serve us. It's not just that we're the most important asset, it's that we're the reason for it all.
If the politicians don't have this front-of-mind, always, then why are we putting up with all this?
@rbreich @GentlemanTech …that‘s absolutely true! We - the people - are this Leviathan Hobbes was talking about. But a Leviathan that is crowned by the people for the people. Riepl was astonished to see after WWII that the sole productive power of a state are the people when he witnessed how they (mainly women) rebuilt Germany after its complete destruction by the Nazis. (…not the whole story: the Wiederaufbau had some psychological mechanism of repression, too.)
ApaulD@rbreich and tax the wealthy
The Spanish government, under the socialist prime minister, Pedro Sánchez, introduced a temporary “solidarity” wealth tax in late 2022, which is collected in 2023 and 2024, on the net wealth of individuals exceeding €3m (£2.6m). It is estimated to apply to the richest 0.5% of households.”
It should be a permanent tax.
Serge 🔻@rbreich Even Henry farking Ford understood this. Neoliberalism is a scam. Always was.
Andreas K@rbreich There is a second meaning too.
If you invest in workers as in education, they become more competitive.
Which is BTW, the only way if you want to keep a better standard of living long term than workers in some 3rd world hellholes.
OTOH, they also become less easy to replace on one day notice, so perhaps that is not exactly a desired outcome.