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Tuesday, February 21, 2012

The Real Job Creators: You And Me

Mitt Romney & Co. want us to think that making the rich richer will create jobs. That's not true. And it's not the American way.

For three decades, we have been told that “trickle-down” economics that benefit the wealthy is the key to creating jobs. But that's baloney. The evidence shows that ordinary people, not the rich, are the real job creators.

Conservatives like to promote a simplistic view that all you need are capital (cash or goods that produce income) and entrepreneurship in order to create wealth. They maintain that wealth, in turn, spurs rich people to do productive things, like creating jobs, and so the more concentrated wealth is, the more jobs are created. If you tax the rich, they argue, then jobs will be destroyed. Mitt Romney frequently echoes this line of thought by promoting economic programs that would give enormous tax breaks to the wealthiest 1% and concentrate wealth in their hands. Romney, who paid 13.9% in taxes in 2010 and likes to tout himself as a job creator, has just announced a plan that calls for preserving the Bush tax cuts for the wealthy, lowering the corporate tax rate, and repealing the estate tax.



Anonymous said...

So how many Banks are going to lend money to a poor person with no assets to create a business? zero, none, zip! There is a reason for formation of capital and it usually starts with the disipline of saving and investing

Anonymous said...

If it's one things we all should see now after 10 years of the Bush tax cuts is that tax cuts do NOT equal job growth. The growth numbers even during the boom of the housing market where relatively weak based on historical comparisons.

Businesses are started and companies hire when they have customers. You can tax someone 50%, but if they have customers lined up at their door, they will still be in business. The rich made plenty of money under the clinton tax regime.

Anonymous said...

Just like the corporations and the rich said when there was the fight over extending the tax breaks for the rich.
They said they would hire if extended. Where are the jobs?
They're not there. They just pocketed the money and it's business as ususal.
The corporations and the rich are holding this country hostage!

Anonymous said...

The high cost of doing business is the real job killer.Take construction-everything from equipment,licensing,permits,insurance,fuel,competition for hardly any bids and you havent even included employees and their costs,how's a company going to hire?Borrowing money is only going to put you under.Only the strong and the debt free can survive out here.

Anonymous said...

Corporations don't pay taxes!
People pay taxes. If any one would think this equation through, a business takes their costs which include taxes and mark their costs up. The higher the costs (which include taxes) the higher the price . So when a person makes a purchase they are indeed the one paying the tax.
There is so much hate and envy that People love to hate corporations