It is a myth that higher taxes lead to less demand and slower growth. In the first three decades after World War II, US top tax rates on the wealthy were never below 70 percent.
Globalization and free trade do spur economic growth, and they lead to lower prices on many goods.
The problem right now is jobs. The problem right now is the economy and economic growth.
The federal budget deficit isn't the nation's major economic problem and deficit reduction shouldn't be our major goal. Our problem is lack of good jobs and sufficient growth, and our goal must be to revive both.
