The Job Creation Hoax I 10 Economic Myths Debunked #8 | Robert Reich

I'm so tired of people pretending the rich are "job creators." Here's who's really creating jobs.

[ShawnMicheldeMontaigne]

These "debunking" videos should be seen by everyone. They're excellent.

[justinthomas]

Don't forget, working & middle class workers create even more jobs when they have enough money to start their own businesses, grow them, & hire more workers.

[patrickcardon]

It's so obvious it's amazing one still has to explain this in 2024

[inazumagou]

more people with purchasing power -> businesses thrive -> more jobs

[elmerkilred]

Trickle Down never worked.
735 American billionaires buy 1 pair of blue jeans to wear once every day for the next year at $50.00 a pair. This would yield, $13.5 million dollars.
Then 330+ million Americans buy 1 pair of blue jeans at the same price to last them the next 5 years, this would yield $16.5 BILLION dollars.
The government (both state & federal) get their sales taxes, and income taxes from all of the logistical employment it creates to move 330millon pairs of jeans, from the textile manufacturer, the shipper, the warehouse receiver, (and taxes in fuel)... There are far more jobs created with the masses than a few billionaires. Trickle up is how it works.

[johngranato]

Thank you. Economics 101. Remember, businesses are created to generate a demand or meet a pent-up demand. This only works if the consumer has the purchasing power. You may eliminate all business taxes but if the consumer can't buy, the business is finished.

[laurentderrien]

sad you have to explain this to dozens millions voters who are directly concerned, and believe in trickle down BS

[ssgtmole]

Big corporations don't create the most job. Main street businesses do.
If you keep inviting big box companies to your town, they might create some jobs, but the profits are sent back to the headquarters in a different location. If the jobs don't pay enough (which is most of the time these days), then your town might get the benefit of a meager amount of taxation from the workers, but your state loses by having to support those workers with food and housing assistance.
Your own taxes don't go to improvement or upkeep of your town, but to the state and federal government to support the low wage workers.
You end up paying for the "privilege" of having the big box stores loot your town if your town or state give them tax breaks or subsidies to open up a location there.

[airbrushken]

The National Minimum Wage is $24.10 per hour here in Australia.... be safe.. Thanks Mr. Reich

[NoOligarchs]

Would love to see a video discussing your thoughts on profit/ceo pay caps. Thank you for all you do! 💚

[cgeorge]

TOTALLY AGREE WITH YOU IT GOES FOR AUSTRALIA ALSO

[growthandunderstanding]

You are a true patriot, Secretary Reich! I deeply appreciate your determination to present these videos for the education and welfare of the American public/proletariat! Thank you!

[slothachunk]

Always on point Robert! I wish all of the working class would watch your channel, and learn the truth behind the economy.

[RJ-gosn]

Wish I would have had an econ professor like this, who is concise, great to listen to, and CAN DRAW like nobody's business!!!

[Phoenix]

Santa Clause, the Easter Bunny, Trickle-down Economics, the Tooth Fairy, Flat Earth....

[challengerRT]

Yes, people need purchasing power in order for corporations to succeed.

[ThatOpalGuy]

the system, as is, is unsustainable.

[dawaj]

Stimulus for regular people = communism, stimulus for rich people = capitalism

[GenerationX]

Small businesses are better job creators and they're being squeezed out by giant corporations. What happens when big corporations merge? Layoffs happen. Small local businesses don't have mergers.

[alanbailey]

"Trickle Down economics = Trickled On economics"