10 Essential Economic Truths Liberals Need to Learn

Agreed!

Whiskey Tango Foxtrot

Government cannot create wealth, jobs, or income. Because government has to take money from somebody before it can spend it, there is no economic gain from anything the government does. Money collected in taxes or borrowed would have been either spent or invested in the private sector. Any jobs government claims to have created are only in place of other jobs the same money would have produced if people had been allowed to spend it themselves.

Income inequality does not affect the economy. Poor people do spend more (or all) of their income while people with higher earnings save some of their income. However, saving is as good for the economy as consumer spending (or better). The basic identity is that national income equals consumer spending plus investment plus government spending on goods and services plus net exports. To make investments, money first must be saved; so savings contribute to…

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2 thoughts on “10 Essential Economic Truths Liberals Need to Learn

  1. Luis Speer says:

    Hi would you mind stating which blog platform you’re working with?

    I’m looking to start my own blog soon but I’m having a hard time making a decision between BlogEngine/Wordpress/B2evolution and Drupal.
    The reason I ask is because your design and style seems different then most blogs and I’m looking
    for something unique. P.S My apologies for getting
    off-topic but I had to ask!

    • I’m using WordPress, with the Sorbet theme (which is available for free through them). I customized the colors, and chose my own sidebar tools.

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