Noted Moron Hank Johnson Does Economic Theory
This is hilarious.
Except it isn’t. Because as dumb as Johnson is – something he puts on display every time he speaks in Congress – what he’s saying constitutes the Left’s dogma when it comes to economics.
“We all do better when the money is circulating. Those up on the top end they’re going to continue to make money. But those who are just working people and those who aspire for the middle class when that money is circulating then we can all collectively become more wealthy…”
In other words, so long as the government taxes and spends, the economy grows. It really doesn’t matter how the government taxes and spends, the economy grows. Because, y’know, working people can make each other rich by buying Skittles and iced tea at the local grocery with their unemployment checks or EBT cards.
No concept of capital formation, savings and investment, creation of wealth, economic competitiveness, productivity. None of it.
Johnson is obviously just parroting the same crap Nancy Pelosi has put forth about how unemployment checks are the best stimulus an economy can get. So maybe it’s unfair to pick on him – except he’s the latest practitioner of this idiocy, and they all need to be called out as economic illiterates.
How we got to the point where our economic policies can be influenced by people who can’t even spell economics is a question for another time. Suffice it to say this is a problem.