The reality is this: There is no correlation at all between raising taxes on the rich and slowing the economy. In fact, if anything, it’s the reverse.

Former Labor Secretary and Berkeley public policy professor Robert Reich.

He cites the period between World War II and 1981, when taxes were higher and the economy grew, as well as the economy’s growth under President Clinton, who raised taxes on the wealthy.

Of the Wall Street CEOs who are lobbying Congress to lower corporate taxes, Reich comments: “The idea that somehow they need more cash is absurd.” Watch Reich lay down some knowledge on rich people here, and watch "Viewpoint with Eliot Spitzer" weekdays at 8E/5P.

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