“Corporate Cash Con” by Paul Krugman (TIMES, 7/4/11)


In calling for “direct job creation by the government” Paul Krugman is pointing the way toward halting the economic downturn in the United States.

No significant “trickle-down” will result from “tax cuts” or “tax holidays” for the big corporations. They will not spend any of that money to stimulate the economy.

Instead, heavy pressure has to be put on President Obama to rally support for a massive federal jobs program which could act on the economy the way a blood transfusion would to a severely injured person.

Moreover, with the economy in such bad shape, continued Republican opposition to any meaningful relief could backfire on their party. Soon, the business friendly image the Republicans display to justify their stiffnecked opposition to government assistance will reveal the face of Ebenezer Scrooge.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: