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    Myths

    LIE: The 2008 housing crisis was caused by government allowing poor people to buy homes they couldn’t afford

    TRUTH: Wall Street created the demand for bad mortgages that led to the 2008 crisis

    LIE: Raising taxes hurts the economy

    TRUTH: The connection between tax levels and economic growth is weak

    LIE: Raising the minimum wage reduces employment

    TRUTH: Minimum-wage increases have negligible effects on employment

    LIE: Progressive taxation is class warfare

    TRUTH: Higher tax rates on the rich are not punishment

    LIE: All taxes are theft

    TRUTH: All taxes can’t be theft if one believes government of some kind is necessary

    LIE: Deficits can only be reduced by cutting spending, not raising taxes

    TRUTH: Even conservative economists acknowledge deficits can be cut with higher taxes