A Real Economist (Michael Hudson) Explains Why HIgher Taxes, Not Lower Ones, Create Jobs | Black Agenda Report

A Real Economist (Michael Hudson) Explains Why HIgher Taxes, Not Lower Ones, Create Jobs

The Real News Network

02 Feb 2011

🖨️ Print Article

by the Real News Network

Barack Obama and the bipartisan quacks of Wall Street and corporate media keep telling us that lower taxes on the wealthy create jobs, the exact opposite of what real economists have known for ages. For a dose of economic sanity, Paul Jay of The Real News Network interviews Michael Hudson, a real economist, who explains how the U.S. was more prosperous and created more high wage jobs when it taxed 90% of the highest individual and corporate "earners".

Dr. Michael Hudson is, unlike the mopes you see on TV, an economist who actually predicted the real estate, subprime and general financial meltdowns of the last few years. Dr. Hudson is a financial economist and historian. He is president of the Institute for the Study of Long Term Economic Trends, a Wall Street financial analyst, and distinguished Research Professor of Economics at the University of Missouri, Kansas City. His 1972 book, Super imperialism, the Economic Strategy of American Empire is a critique of how the United States exploited foreign economies through the IMF and World Bank. He is also author of The Myth of Aid, and Global Fracture, the New International Economic Order. On today's program we discuss his newest book, in progress, the Fictitious Economy; How Finance is Destroying Industrial Capitalism, and Paving the New Road to Serfdom.

And the Real News Network is exactly what its name says. It's one of the places we at Black Agenda Report go to get OUR news. Thanks to Paul Jay.

Do you need and appreciate Black Agenda Report articles? Please click on the DONATE icon, and help us out, if you can.

More Stories

Roberto Sirvent, BAR Book Forum Editor
BAR Book Forum: Shanté Paradigm Smalls’s “Hip Hop Heresies”
22 Jun 2022
This week’s featured author is Shanté Paradigm Smalls. Smalls is Associate Professor of Black Studies in the Department of English and Faculty in Critical Race & Ethnic Studies at St. John’s…
Julie Varughese
Celebrations in Colombia’s Streets: Gustavo Petro to Be First Left-Wing President and Francia Márquez the First Afro-Descendant Woman VP
22 Jun 2022
The Historical Pact candidates Gustavo Petro and Francia Marquez were elected President and Vice President of Colombia. Their victory is the first for leftists in that country but part of a trend in…
Raymond Nat Turner, BAR poet-in-residence
Poor Peoples’ March
22 Jun 2022
Roger D. Harris
Summit of the Americas Flops While Workers Summit Exposes Cracks in the Imperial Façade
22 Jun 2022
The U.S. effort to exert control at Summit of the Americas failed spectacularly. The Workers Summit of the Americas in Tijuana, Mexico showed the strength of people's movements around the world.
Raymond Nat Turner, BAR poet-in-residence
Warriors we are…
22 Jun 2022
…