During the first three years of the Bush tax cuts, America’s job total actually went down, from 132 million jobs in 2001 to 131.4 million in 2004. Job growth did improve during Bush’s second term, but overall the rate was “anemic” compared to that under President Bill Clinton.
The problem is that when wealthy people are given more money, their main priority is usually to use it to make even more money.
Several economic studies have indicated that the wealthiest people -- the top 3 percent who make more than $250,000 per year -- are more likely to invest tax cuts in stocks or other assets than to create jobs. Democrats point out that this year many large American corporations are posting record profits without sinking that money into payroll. Instead of spending money on tax cuts, money should be spent on actual jobs -- which, in turn, will bring businesses the customers they need to thrive.
Bottom line: Giving a multi-millionaire or billionaire another tax cut is not going to create work. It will definetly add hundreds of billions to the deficit, but not create jobs. If that was the case, the Bush years would have shown unprecedented job creation. Instead, it was just the opposite. The idea that tax cuts create jobs shows a fundamental misreading of capitalism. Businesses hire when there is a market need, not when their taxes are cut. Why would a business hire more people if there are no more customers?
PS-- The rant in today's Sentinel was posted by the author: The sheer refusal to help Americans in need during the holiday season unless the wealthiest Americans get another tax cut they don't need and we can't afford is morally reprehensible.
Showing posts with label tax cuts. Show all posts
Showing posts with label tax cuts. Show all posts
Saturday, December 18, 2010
Saturday, December 11, 2010
What Obama Can Learn from Clinton
I enjoyed watching the History Channel’s 2004 series "The Presidents", which I watched on You Tube yesterday. When they got to Presdient Clinton, Leon Panetta explained his showdown with Newt Gingrich. Clinton, like Obama, was dispirited after the 1994 election. But he said Clinton knew politics and KNEW that he had to draw a line in the sand. Gringrich thought he could bully Clinton with threatening to shut donw the government if he didn’t get his way.
Clinton didn't show weakness with the terrorist. He stood firm. He didn’t cave.
Gov’t did shut down for a bit. And people were outraged... not at Clinton, but at Newt and the GOP. It was Newt that came back to the bargaining table. It was newt and the GOP that suffered seat losses in 1996, along with the defeat of Bob Dole. Newt himself had a very close re-election bid, and he was spooked enough to give a speech that essentially said "message received loud and clear".
We have the high ground here. DEMOCRATS voted for a straight middle-class tax cut. GOP filibustered it. GOP is willing to hold the unemployment benefits for struggling families hostage unless every millionaire and billionaire in this country gets $100,000 of tax payer money. They are willing to add $700 billion to the national debt for the wealthiest Americans, but say a few billion to help people who can’t find work this holiday season is too expensive. They don’t have a leg to stand on.
The only way to lose is not to fight. I hear on the radio yet another spineless Dem saying we need to take whatever deal is offered because the GOP is better at messaging than us, and that we will get blamed if taxes go up. I say enough is enough. I don’t know aobut you, but I am sick to death of this... right now we still have a SUPER majority in the House and Senate, and a Dem Prez, WHY are we still cowering? Do you really think if a deal is made the GOP will play nice?
Draw a line, dammit. No further. NO MORE. You rethug SOBs want to filibuster? DO IT!!
Maybe, just maybe, the American people will wise up to the REAL priorities of the GOP and maybe even bother to vote next time!
If the Dems can’t win this message war over what is blatantly obvious...they deserve to lose. If the Dems cave on this, who do you think is going to show up at the polls in 2012?
Draw the damn line.
PS:
WHY THE F*&^ ARE WE NEGOTIATING ANYWAY? We still have a super majority in the House, and we can do Budget Reconciliation in the Senate! That is what W. did to pass these massive breaks to the wealthy in the first place. Am I missing something?
Clinton didn't show weakness with the terrorist. He stood firm. He didn’t cave.
Gov’t did shut down for a bit. And people were outraged... not at Clinton, but at Newt and the GOP. It was Newt that came back to the bargaining table. It was newt and the GOP that suffered seat losses in 1996, along with the defeat of Bob Dole. Newt himself had a very close re-election bid, and he was spooked enough to give a speech that essentially said "message received loud and clear".
We have the high ground here. DEMOCRATS voted for a straight middle-class tax cut. GOP filibustered it. GOP is willing to hold the unemployment benefits for struggling families hostage unless every millionaire and billionaire in this country gets $100,000 of tax payer money. They are willing to add $700 billion to the national debt for the wealthiest Americans, but say a few billion to help people who can’t find work this holiday season is too expensive. They don’t have a leg to stand on.
The only way to lose is not to fight. I hear on the radio yet another spineless Dem saying we need to take whatever deal is offered because the GOP is better at messaging than us, and that we will get blamed if taxes go up. I say enough is enough. I don’t know aobut you, but I am sick to death of this... right now we still have a SUPER majority in the House and Senate, and a Dem Prez, WHY are we still cowering? Do you really think if a deal is made the GOP will play nice?
Draw a line, dammit. No further. NO MORE. You rethug SOBs want to filibuster? DO IT!!
Maybe, just maybe, the American people will wise up to the REAL priorities of the GOP and maybe even bother to vote next time!
If the Dems can’t win this message war over what is blatantly obvious...they deserve to lose. If the Dems cave on this, who do you think is going to show up at the polls in 2012?
Draw the damn line.
PS:
WHY THE F*&^ ARE WE NEGOTIATING ANYWAY? We still have a super majority in the House, and we can do Budget Reconciliation in the Senate! That is what W. did to pass these massive breaks to the wealthy in the first place. Am I missing something?
Friday, September 17, 2010
Tax Cuts: How the Dems Are Screwing Up a Sure Thing
Maybe I'm missing something here...If I am, please enlighten me in the comments section...
But I think this is SOOOOO simple.
All we need to do is have debate on two, TWO, tax cuts packages.
Call the first: Obama's Middle Class Tax Cut (for those making under $250,000)
Call the second: Bush's Upper Class Tax Cut Extension (for those mkaing over $250,000)
Everybody wins.
We DO NOT have the second without the first. No tax cuts for millionaires without a tax cut for the middle class first.
That way each has a fair vote. The conservadems who want to vote for the rich one can do so...after the vote on the middle class one. If they and the GOP want to add $700 BILLION to the deficit to give $100,000 tax break to multi-millionaires...go for it.
Mitch McConnell says he has all 41 rethugs lined up to fillibuster if they aren't together. FOR GOD'S SAKES.. LET HIM! "Give Em Hell Harry" Reid, (who would be more aptly named "Please don't hit me Harry"), should demand that if they want to fillibuster, they go on the floor and actually do a damn fillibuster on the MIDDLE CLASS TAX CUT.
It will fail. Miserably. The GOP will be in lose-lose...in one motion they will simultaneously be seen as stopping a middle class tax cut and fighting for a tax cut for millionaires. If they cave, which is likely, they will be forced to cede the victory to the Democratic Congress.
Harry is being wishy-washy on this as usual. My God, if I didn't think that Nevada deserved to suffer under that crazed teabagging loon Sharon Angle, I would be happy to see Reid go and be replaced by a smart Democrat with a spine like Chuck Schumer.
Pelosi has been showing some spirit, but she so far hasn't committed to vote on any tax proposals before the election.
Now FAUXNews is smelling blood in the water and has on its front page right now: Expiring Tax Cuts Hit Americans at Every Income Level
In the words of Jon Stewart.. HOW CAN THE DEMOCRATS F*&^ THIS UP??
Contact Harry Reid:
http://reid.senate.gov/contact/index.cfm
Contact Nancy Pelosi
http://www.speaker.gov/contact/
Two packages... two votes... VICTORY. Simple, right?
But I think this is SOOOOO simple.
All we need to do is have debate on two, TWO, tax cuts packages.
Call the first: Obama's Middle Class Tax Cut (for those making under $250,000)
Call the second: Bush's Upper Class Tax Cut Extension (for those mkaing over $250,000)
Everybody wins.
We DO NOT have the second without the first. No tax cuts for millionaires without a tax cut for the middle class first.
That way each has a fair vote. The conservadems who want to vote for the rich one can do so...after the vote on the middle class one. If they and the GOP want to add $700 BILLION to the deficit to give $100,000 tax break to multi-millionaires...go for it.
Mitch McConnell says he has all 41 rethugs lined up to fillibuster if they aren't together. FOR GOD'S SAKES.. LET HIM! "Give Em Hell Harry" Reid, (who would be more aptly named "Please don't hit me Harry"), should demand that if they want to fillibuster, they go on the floor and actually do a damn fillibuster on the MIDDLE CLASS TAX CUT.
It will fail. Miserably. The GOP will be in lose-lose...in one motion they will simultaneously be seen as stopping a middle class tax cut and fighting for a tax cut for millionaires. If they cave, which is likely, they will be forced to cede the victory to the Democratic Congress.
Harry is being wishy-washy on this as usual. My God, if I didn't think that Nevada deserved to suffer under that crazed teabagging loon Sharon Angle, I would be happy to see Reid go and be replaced by a smart Democrat with a spine like Chuck Schumer.
Pelosi has been showing some spirit, but she so far hasn't committed to vote on any tax proposals before the election.
Now FAUXNews is smelling blood in the water and has on its front page right now: Expiring Tax Cuts Hit Americans at Every Income Level
In the words of Jon Stewart.. HOW CAN THE DEMOCRATS F*&^ THIS UP??
Contact Harry Reid:
http://reid.senate.gov/contact/index.cfm
Contact Nancy Pelosi
http://www.speaker.gov/contact/
Two packages... two votes... VICTORY. Simple, right?
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