‘Trickle Down’ Folly : Cutting Taxes Doesn’t Create Jobs
OPS_admin | Feb 04, 2010 | Comments 0
How NOT to create jobs: Cut business taxes and lower wages?
Money does not trickle down in a capitalist economy — it flows upward, and that has always been true.
For years now, the corporate-owned Republicans have been telling us that the way to create more jobs in America is to cut business and corporate taxes and lower wages for workers. They would like to do away with the minimum wage completely, which would put downward pressure on all wages (except for corporate executives).
Even President Obama has recently jumped on this dubious bandwagon by recommending business tax cuts as a part of his jobs creation program. On the surface, this sounds like it might work. After all, if business owners got to keep more money from reduced taxes, they would be able to afford to hire more workers — right?
The real question is whether a businessman being able to afford more workers would actually translate into that businessman hiring more workers. I submit it would not. Answer this question — is a person in business to create new jobs or to make as much profit as possible?
Full Story The Rag Blog: ‘Trickle Down’ Folly : Cutting Taxes Doesn’t Create Jobs.
Filed Under: Economy - Labor • Featured
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The oligarchs openly talking about a coup d'état in America?
Multi-millionaire lobbyist Grover Norquist is calling for the impeachment of President Obama. In an interview with the right-wing National Journal - Norquist warned that if President Obama wins re-election and decides to let the Bush tax cuts for the top 2% expire at the end of the year - then Republicans will "have enough votes in the Senate in 2014 to impeach [him]."What does that mean? It means that the super rich in America - and their political operatives like Norquist in Washington, DC - have now compared a tiny tax increase on the wealthy to high crimes and treason - the only Constitutional basis Congress can use to impeach a President. It sounds like the oligarchs are now openly talking about a coup d'état in America.-Thom(Do you think will try it? Tell us here.) -
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