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Originally Posted by tw
The rich do not create the jobs - except in soundbytes.
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"Wealthy producers" is an oxymoron equivalent to "military intelligence." The emperor wears no clothes, and many, including the OWS contingent are beginning to see this. Tax breaks for the rich have the result of making the rich richer. That's pretty much all.
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Large amounts of “business income” go to concerns like large corporate law practices, accounting firms, and wealthy people who invest in financial and real estate partnerships. These are not what most Americans think of when they hear the term “small business.” It also reflects the reality of income inequality at levels not seen in this country for decades. These are hardly reasons to extend the high-income tax cuts...
CBO [Congressional Budget Office]has explained that firms will not hire workers or make new investments unless they have — or expect to have — enough customers to justify the increased capacity. Whether a firm’s taxes modestly rise or fall matters much less in this regard than the level of demand for the firm’s products or services.
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The
voice of reason at last. A business can be sitting on a million gold American Eagles, but if its potential customers lack the money to buy its product, throwing more money at the business owner is NOT going to solve the problem.
If I may be excused for using an anecdotal example - one need only look at the Bates Motel where I work. Congress can give the owner a million dollars, but as long as the population in this area lack the income to pay for a room here, nothing changes. There will be no new positions for housekeeping or desk clerks. I turn away 3, 4, 5, potential customers every day because they can't afford the rates, and we are one of the least expensive motels in town.
What is it with Conservatives, anyway? They scream bloody murder at the thought of "throwing money" at some problem, but when it comes to the wealthy, there is never enough money to be thrown their way. The rich scream for more and their sycophants in congress rush to obey.