Thursday, September 9, 2010

Are we really wards of the rich? Do we really depend on them for life, liberty and happiness?

It is indeed baloney to say that tax cuts will kill jobs. Of course that's been the mantra for the 30 years that the Republicans have been in power and has been repeated so often and so loudly that no one questions it, no one except Froma Harrop at read on.....

Amplify’d from

The Rich Are Not Going to Give Us Jobs

Thursday 09 September 2010

Let's cut the baloney about jobs and rich people's taxes. If corporate profits automatically turned into jobs for the little folk, the unemployment rate would be plummeting.

It happens that company earnings now exceed their lofty peaks of the housing boom. And big-business balance sheets are sloshing in cash. Corporate America's decision to stick with its current workforce is not for a lack of dough.

Companies don't create jobs because they have extra money jingling in their pockets. They take on new workers when they want to expand, and right now the demand's not there to warrant that growth. Corporations are in the business of maximizing profits for the benefit of their managers and shareholders. They're not in the business of creating jobs, nor should we expect them to be.

And so how should we respond to Republican claims that restoring Clinton-era income tax rates for the wealthiest 2 percent would destroy jobs? We shouldn't. They are irrelevant.

Americans generally don't like class warfare. Labeling any tax increase for upper incomes as such is a time-honored way to bully the public into silence. Actually, it's not too much to ask the top sliver -- whose wealth is running away from that of even ordinary millionaires -- to do more to contain our soaring deficits.

If the rich get richer from a recovering economy, and they will, then good for them. But they're now owed tax cuts besides.


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