He’s funny. He’s erudite. He tells you exactly what happened in the US starting with the New Deal and Franklin D. Roosevelt up to today.
He’s a Keynesian economist, what he wants is to tax the top rich far more than they are being taxed right now. The top earners in the US used to be taxed at a rate of OVER NINETY PERCENT, today that’s down to less than 40 percent. Of course, that is, without mentioning every tax hole available to the US elite, so in reality it’s even less.
That tax money used to go to excellent programs to give people a job, education, to infrastructure, etc.
If tax money is used well, you can get a lot in return.
There has been a clear trend towards tax cuts for the rich. The last US president that raised taxes was Bill Clinton and the economy did a little better under Clinton. Then the tsunami spending of Bush came, the debt increased, a trend that has continued with Obama – what we keep repeating here: OBAMA IS NOT WHO YOU THINK YOU ARE, IT’S A COOL IMAGE, BUT LOOK AT HIS POLICIES: he gave the Wallstreet bankers who crashed the economy a free pass, he destroyed the occupy movement and he bombed a bunch of countries. OBAMA IS NOT A COOl DUDE!!
Anyway, if you want to understand the economy, why working people have less and less money, and why that is bad news for the economy, watch talks by Richard D Wolff.