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Thursday, March 15, 2007

I Am Not Making This Up
Posted by Jill | 7:38 PM
Republican economic policy in a nutshell:

Greenspan did put forward a proposal on how to reduce the growing inequality of incomes in the United States — admit more skilled immigrants into the country.

The former Fed chief said that increasing the number of immigrants with sought-after skills would increase the labor supply of these workers in the United States and hold down the wage gains of all workers with these skills.

In that way, Greenspan said, the gap between skilled and unskilled workers would be lowered.
He said it was critical to find ways to address growing income inequality in the United States.

Income inequality ``is where the capitalist system is most vulnerable,'' Greenspan said. ``You can't have the capitalist system if an increasing number of people think it is unjust.''

So let me see if I have this right: The way to address income inequality is to flood the country with skilled immigrants willing to work for peanuts, so that American skilled workers can get paid LESS, so that their pay is more in parity with the $6 - $7/hour food service workers from whom they buy lunch.

Nothing, of course, about the $200 million compensation packages enjoyed by corporate executives. It figures that the United States' leading disciple of Ayn Rand would think this way.

(h/t: Digby)

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