-the democrat-socialist perspective, the perspective that is prevalent in European countries is that this is the obligation of all of us, that we are our brother's keeper, and that this is one of the appropriate functions of government. Whereas the conservative and libertarian perspective is that it’s entirely inappropriate for government to get associated with this.

people don't spend much money out of a temporary rise in income, which is what will happen when they cut the taxes. But from a permanent rise in income, people spend a lot of money. So if you raise their wages, then people will look at as a permanent rise in income so there will be a big increase in consumer demand out of increased wages. Whereas if you cut taxes, then there will be some rise in demand, but not much, so, not as much at least.

It's like we have had this collective amnesia since Ronald Reagan was elected president.

we have become clueless about how the economy really works.