‘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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If we don't change our ways soon...
A new report by the Royal Society, chaired by Nobel prize-winning biologist Sir John Sulston warns that world population must be stabilized and consumption in wealthy nations must be reduced or the entire planet is in big trouble. As the report reads: "The number of people living on the planet has never been higher, their levels of consumption are unprecedented and vast changes are taking place in the environment. We can choose to rebalance the use of resources to a more egalitarian pattern of consumption... or we can choose to do nothing and to drift into a downward spiral of economic and environmental ills leading to a more unequal and inhospitable future."This is the same warning that President Jimmy Carter gave Americans back in the 1970's - but it was ignored when Ronald Reagan came to power with a "more positive" message basically telling Americans we can do whatever we want. And then after 9/11 - Bush told us all we should go shopping and consume ever more.And now with corporations calling the shots in Washington - long-term sustainability of the planet takes a back seat to short-term profits. If we don't change our ways soon - and embrace clean, alternative energy and educate women around the plant - then we all could be headed for a rough century.-Thom(Is there any chance we will learn in time? Tell us here.) -
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