THE AMERICAN JOURNAL

Larry Summers: Almost All Economists Believe More Taxes Fuels Job Growth

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Obama’s chief economic adviser Larry Summers appeared Feb. 9 on the Fox Business Channel to discuss the administration’s economic agenda and defended proposed rate-hikes for those making over $250,000. “Almost all economists who studied these things have that kind of view,” he told Fox’s Liz Claman.

Perplexed, Fox News contributor Gary B. Smith replied: “it’s the biggest bunch of B.S. I ever heard … this is such a political game. , Larry Summers thinks everyone is Rockefeller living in their Newport, Rhode Island mansion. These are guys that are starting businesses, investing. You can’t give people business money to hire people, they have to have a reason for hiring these people and that’s because they see sales increasing or costs decreasing. You can’t just say ‘go hire these five people’ because the businesses will go ‘What for? I don’t have the demand!’”

Read more: Business and Media

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February 12, 2010 - Posted by | Uncategorized | ,

1 Comment »

  1. Where did Summers get his degree in economics? I’d like to know the names of those “economists” who believe taxes will spur job growth. And make sure they aren’t from Leftist publication.

    Comment by MTR | February 12, 2010 | Reply


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