Amherst Economist: Under Bernie, Income & Jobs Will Soar

[amborin]

According to Amherst economist Gerald Friedman, Bernie Sanders’ economic plan would:

Increase median income by more than $22,000
26 million jobs would be created
The unemployment rate would fall to 3.8%
Poverty would plummet over 50%
The economy would grow at 5.3% rather than the anticipated 2.1%
The deficit would be a surplus by his second term

Sanders' plan to pour $14.5 trillion into the economy -- including spending on infrastructure and youth employment, increasing Social Security benefits, making college free and expanding health care and family leave -- would juice GDP and productivity. Also, he would raise the minimum wage, as well as shift income from the rich to the middle and working class through tax hikes on the wealthy and corporations.

"Like the New Deal of the 1930s, Senator Sanders' program is designed to do more than merely increase economic activity," Friedman writes. It will "promote a more just prosperity, broadly-based with a narrowing of economy inequality."


http://www.dailykos.com/stories/2016/2/8/1481775/-Under-Sanders-income-and-jobs-would-soar-Amherst-economist-says

[Cheese Sandwich]

1. Bernie will create more jobs and and better pay too.

[CharlotteVale]

2. K&R

[firebrand80]

3. "The 5.3% number is a fantasy,"

said Jim Kessler, senior vice president at Third Way, a centrist think tank.

[LWolf]

5. Third Way.

I don't care what label the neo-liberals give themselves: DLC, Reagan Democrats, "Centrists," New Democrats, Blue Dogs, "Third Way" or anything else.

They're bad for the Democratic Party, the nation, and the planet.

[Uncle Joe]

4. Kicked and recommended.

Thanks for the thread, amborin.

[Trajan]

6. One very important thing to note

When such 'stimulus' hits the marketplace, it will generate 'extra' revenues that will drive greater production, more jobs, and MORE PROFITS for the rich ...

When workers are paid well for their labor, they spend it, and when they spend it, the rich go KA-CHING as they pocket the proceeds... The rich get it in the end ... All of it ...

[Faux pas]

7. Kickin' with gusto!

[amborin]

8. kicking for the evening crowd