University of California professor Robert Reich appeared Tuesday night on MSNBC’s The Last Word to discuss Republican presidential candidate Mitt Romney’s job plan. The 59-point plan calls for tax cuts, cuts in the federal workforce and rollbacks in environmental, health and banking rules. Romney called his plan “a job machine.”
“It’s kind of an odd idea, it’s like calling corporations people,” Reich said. “It’s not clear what these things are. Mitt Romney has the kind of odd idea — and it is a bizarre idea — that at a time when corporations are scoring record profits, at a time when you’ve got them sitting $2 trillion of cash they don’t even know what to do with, that somehow if you give them more tax cuts, and deregulate so you reduce their costs even further, they will then create jobs.
“They don’t create jobs now, he assumes, because their costs are too high and they’re not making enough money. The reality of course is just the opposite. Corporations are doing extremely well.”