nationalmemo/report-big-tax-cuts-disaster-kansas/ My response: Tax cuts simply redistribute wealth upwards?!? (sarcasm) Noooo, really? Tax cuts dont create jobs?!? (sarcasm, again) You dont say? Republicans have foisted the tax cuts create jobs nonsense at least since St. Ronnie RINO got into office in 1981. Tax cuts for the wealthy and big corporations have NEVER created jobs; the sole intention of those are to simply redistribute wealth upwards. The Bush 43 tax policies, most of which are STILL IN EFFECT, have sent $32 TRILLION upwards since 2001. That amount will increase to $33.5 TRILLION by the end of this year. Meanwhile, when Bush 43 got into office, the unemployment rate was 4.2% (source: Bureau of Labor Statistics).. by the time he left office eight years later, the UE rate had nearly doubled to 7.6% (again, BLS). But, when Bush 43 handed over the keys to the country to President Obama, he handed our current President a surprise: further job losses attributable to his tax policies. In fact, the UE rate reached 10% before the ARRA (Stimulus) reversed the losses and sent us on our current four-year streak of private-sector job growth. The Truman, Eisenhower and Clinton administrations also proved the opposite argument: RAISING taxes on the wealthy and big corporations CREATES jobs and helps the economy to grow. Repealing the Bush 43 tax policies would turn our annual deficit into a SURPLUS that can be used to start paying down the national debt. A much-bigger surplus could be created if the minimum wage is raised to $12 per hour. Its simple Keynesian economics, people. Austerity economics does just one thing: worsens wealth and income inequality.
Posted on: Sat, 29 Mar 2014 17:06:13 +0000
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