Randy Shaw: Holding self-identified “progressive” politicians like Barack Obama accountable for fulfilling campaign commitments actually improves the chances for progressive election victories, as it pressures Democrats to satisfy their base. And as the critical midterm elections approach, ensuring this grassroots base is motivated and mobilizable by holding Obama and Congressional Democrats accountable is even more imperative.
Robert Reich: The economic lesson President Obama ought to be teaching is that targeted tax cuts, mostly for small business, are good to the extent they give businesses a nudge toward creating more jobs. But businesses won’t begin to create lots of jobs until they have lots of customers. And that won’t happen until lots more Americans have work. The only way to get them work when businesses aren’t hiring is for government to prime the pump.
During a White House meeting in early 1984, Ronald Reagan shocked economic adviser Martin Feldman in insisting that no tax increase in US history had raised revenue. The eminent Harvard economist penned him a memo proving that every increase in tax rates from 1917 to 1969 had actually done so.