Consumer Demand creates Jobs. Average people spending money, to buy stuff -- creates Jobs.
Lowering the Top Marginal Tax Rate DOES NOT create Jobs. It simply makes Rich people richer. They take their tax gains and invest them. But plow that extra money back into the economy, by hiring more workers -- Only if the Consumers are demanding it.
And Consumers only Demand it -- more stuff -- when they feel their Jobs and their Futures are secure. Otherwise, most Consumers become super-savers, waiting for that proverbial rainy day.
Now if you give a Middle Class person a Tax Rebate -- say a $600 Refund check -- THAT tends to spur Job Creation, as most Middle Class people will tend to run out and buy a Big Ticket item, they've been day-dreaming about. Found Money.
Millioniares might run out and "buy stuff" too, with their Tax Rebates -- $140,000 of found money. The thing is there are so fewer Millionaires, than there are Middle Class consumers -- about 1% the count -- that Millionaire spending barely causes a ripple in Consumer Demand pond.
Not unless you call Jewelry, Art, and Yachts (and Hedge Funds) -- the centers of Job Creation in the Private Sector.
Therefore my common-sense, back-of-the-notepad conclusion is:
Tax Cuts for Millionaires does NOT Create Jobs.
... the kind of Jobs that an Economy of 315 Million people need, anyways.
Need more "proof" of my Job Creation conclusion than the educated musings of an Economic observer?
Well take a look at this. The Data shows that Job Growth happens during periods of higher Marginal Tax Rates. That's odd. How could that be?
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Republicans (and too many Democrats) all repeat in unison:
Tax cuts spur job growth. Tax cuts spur job growth. ... Don't mess with the Job Creators. Don't get them mad. Bring them gifts of even Lower Tax Rates. Maybe a 28% rate will coax them out of their shells?
Who can fathom the rarefied motives of Millionaires? Or what will really spur them to
act hire? ... Where is
Greenspan when we need him? {cough}
Yeah but, what about those Bush Tax Cuts for Millionaires that the Republicans fight tooth and claw, to defend? How did they do in that Job Growth chart? Certainly the Bush Tax Cuts led to a boom in Job Growth!?
Well those Bush Tax Cuts "caused" the lowest rates of Job Growth ever. It's that tiny red bar in the chart.
If Tax Cuts for Millionaires creates Jobs -- Well where are those Jobs?
Give a Millionaire more "found money" in lower Tax Rates, he'll most likely spend it somewhere like China, like Switzerland. He'll bury it in the Cayman islands, Tax-free.
But actually "Hire more people" with that "found money" ???
Not unless there are Customers clearing the shelves. And then not an employee more than the Business actually needs.
Shoot how do you think they became 1% Rich in the first place -- it certainly wasn't by "giving stuff away" ... stuff like Jobs.
They aren't charities for Pete's sakes! (They just demand "charity" from us, in the form of ever lower Top Marginal Tax Rates.)
Afterall "They are the Job Creators!" {cough, cough} {wink, wink}
Everyone knows that. Silly consumers.
If you want work, bring them their Tax tributes. El Pronto, Senior Grover.