The GOP's top priority is extending the Bush tax cut for the wealthiest 2% of Americans, because they argue that it will "create jobs." Here are a number of reasons this is horse shit.
#1 This tax cut has been in place for ten years. If it's such a job creator, why hasn't it been creating jobs all this time? Instead, we've seen thousands of jobs shipped overseas, record deficits, and a widening income gap between the rich and poor.
#2 People go into business to make a profit, not create jobs. Jobs are created when production cannot keep up with demand.
#3 The argument assumes that the wealthy will use the extra income to create jobs, when there's just as much or more reason to believe they'd invest it, spend it, or do any number of things before "Creating a job."
#4 Most job creation by the super wealthy is in underpaid workers overseas, because of #2.
#5 It is middle class consumer spending that has the largest impact on job creation, not the income of the wealthy few. If you really want to kick start the economy, money would best go towards the middle class, who will spend it on things they need, and create higher demand. But in contrast to their passion for giving tax cuts to the rich, the GOP has consistently fought against benefits for the middle class, like extending unemployment benefits.
#6 The tax rate for income above $250,000 used to be 90%, and this was during the prosperous 1950s and 60s. It had no stifling impact on job creation.
The GOP's "tax cut=job creation" is a bullshit reason for them to pad the pockets of the super wealthy, even at a time when more revenue is needed to pay down record deficits, and America's position as a world power is slipping to China. Their agenda is transparently about protecting the wealthiest Americans, even at the cost of country's economic health.
No comments:
Post a Comment