Taxes and Job Creators.
A) First and foremost, "Job Creators" are the MIDDLE CLASS, not the Wealthy. The Middle Class have the income to buy the things they need and have extra income to buy many of the things they want. The Lower Class can (hopefully) buy the things they need and occasionally a couple of things they want. Obviously a strong Middle Class, and an improving Lower Class, drives the economy. Giving tax breaks to the Wealthy does not (as proven by the Bush Tax Cuts) create jobs. It does allow the Wealthy to buy more homes, cars and put money in foreign banks.
(More below the orange acid rain cloud)
But the Bush tax cuts showed that it DOES NOT create jobs...at all. Just look at how the economy did in the years following those cuts. Compare that to any time of great expansion of the Middle Class (advent of the Automobile/production line, return of the soldiers after WW 1 and especially WW 2).
Now tax cuts to the Middle Class and Lower Class can and do create jobs. Still most effective at creating jobs is having more and more people move from the Lower Class into the Middle Class.^ Also important is having the Middle Class thrive and not slip back into the Lower Class.
^ having a strong and growing Middle Class is so important to economic growth that I am surprised the Weathy do not work hard to grow this segment of the population.
B) Don't like calling it a tax hike on the Wealthy? Fine, call it a War Tax. We had two long and expensive wars, Afghanistan and Iraq, that we didn't ask our able citizens to pay for. For other wars we have asked our citizens to sacrifice and pitch in; to ration and buy War Bonds. But for these wars President Bush asked us to "go to the Mall". We, as a nation, should have been adding to the Federal coffers to pay the enormous cost of these wars. Instead we gave huge tax cuts. And then, not surprisingly, saw our economy tank and the deficit grow.
The Wealthy are historically the ones who benefit the most from wars, either directly with investments or indirectly by living in a protected country to have their business and raise their children. So why shouldn't they help this country that helps them so much? The Wealthy are also the least likely to lose "Blood and Treasure" in war. Their children rarely join the military and the few who do almost never see duty on the battlefield. The Middle Class, and mostly Lower Class, are asked the huge burden of sending their children to fight, possibly kill and all too often die. So the War Tax for the Middle and Lower class is through "Blood and Treasure". The tax for the wealthy should be adding coin to the Federal government.
The "Wealthy" will be fine and still quite wealthy with a return to the Clinton Tax Rates.
^^(see below--a small increase in tax rate will not drop them from the ranks of the extrememly Wealthy)
In return the well off will be directly helping this Country that has helped them achieve so much.
^^M. Naz@Mozi_N 20h
It's not a fiscal cliff that is the problem. 400 people own as much wealth as 150 million people. That is the problem. #My2K #tcot #FB
From the Tweet of the Day