Disclosure: I proudly work for Yes on 24

Many political disputes are rooted in disagreements over how the economy works. Even for people who are civically engaged, the economic questions can become very difficult to navigate. Luckily, we have some world-class economists in the United States whose careful, reality-based analysis we can rely upon. Robert Reich is one of those people.

Reich’s biography is familiar to most, including his stint as Secretary of Labor in the 1990s. It should not be understated that his experience has made him one of America’s foremost experts in job creation. He has a deft understanding of the subject that easily surpasses the political pundits who will usually shout louder than he.

Now Robert Reich has spoken up regarding California’s Proposition 24 and his words should ring true. I encourage you to read and pass on the full press release with Reich’s comments, located below the fold.  

           For Immediate Release: 10/4/2010     Contact: Richard Stapler, (916) 443-7817

Former Secretary of Labor Reich Endorses Yes on Proposition 24, the Tax Fairness Act

          Says Breaks Don’t Create Jobs, “Regular Taxpayers Get Left Holding the Bag”

SACRAMENTO – Former Secretary of Labor and current U.C. Berkeley Professor Dr. Robert Reich has endorsed Yes on Proposition 24, the Tax Fairness Act:

“The Tax Fairness Act moves California in the right direction. It ends three extraordinarily bad corporate tax giveaways that will not save or create a single job.

As a former US Secretary of Labor, I can state emphatically that these narrow tax breaks for large corporations do not stimulate job creation, nor do they figure significantly in corporate decisions to locate in or relocate out of the state. Education, work force and other factors are much more important.

Rewarding a handful of large corporations – many of which are sitting on billions of dollars in cash – by giving away sorely needed funds absolutely does not create jobs. Claims otherwise are simply not credible. Passing Proposition 24 will level the playing field between regular taxpayers and corporations. Remember, the more corporate taxes get cut, the more likely regular taxpayers get left holding the bag. That’s not fair.”

Dr. Reich is currently a Chancellor’s Professor of Public Policy at U.C. Berkeley’s Goldman School of Public Policy. From his biography: Robert B. Reich has served in three national administrations, most recently as secretary of labor under President Bill Clinton. He also served on President-Elect Obama’s transition advisory board. He has written twelve books, including The Work of Nations, which has been translated into 22 languages; the best-sellers The Future of Success and Locked in the Cabinet; and his most recent book, Supercapitalism.

Proposition 24, the Tax Fairness Act, ends $1.3 billion in special tax loopholes for big corporations that don’t require the creation or protection of one single job in California. Proposition 24 will not raise taxes and prevents more budget cuts to schools, public safety and other important services.

For more information, see: http://yesprop24.org/.