DO TAX CUTS FOR THE WEALTHY REALLY CREATE JOBS?

Job creation doesn’t come from the very wealthy. Most of them pay much lower taxes than you might believe because much of their income comes from dividends and other tax loopholes. These people do not run “Small Businesses”.

The businessperson who runs the local automobile garage, plumbing and heating firms or plumbing companies are the “Small Businesses”. Most of them are nowhere near the highest taxes brackets. They DO work for a living.

In the early 2000s, George W. Bush pushed for tax cuts–focused mostly on the very highest tax brackets–three times. At the same time, W took the country from a Budget Surplus to a Deficit. Where was that job growth?

Talk to a businessperson–not a politician. If there is not a demand for their products and services, tax cuts are not going to encourage small business-owners to create jobs. But, a re-bounding economy would.

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  1. #1 by Marissa Huber on June 7, 2012 - 1:57 AM

    Good post, Cheeks. I have a lot of friends who are true small business owners, and they will definitely not be benefiting from these cuts.

    • #2 by cheekos on June 17, 2012 - 12:33 AM

      The term Small-Business, believe it or not is, often misrepresented. Sub-S Corporations (an IRS term), which have a limited number of shareholders, are considered by Conservative Politicians as Small Businesses. Two of the best known, David and Charles Koch, are Billionaires–and owners of Koch Industries. They are said to have financed many conservative efforts–including the so-called Tea Party (no relationship with the Patriots at Boston Harbor), Scott Walker of Wisconsin and Mitt Romney, among others.

      The true Small Businesses (say a compny with five or ten repair trucks on the road) does not enjoy the tax loopholes, lobbying benefits and political access that the true wealthy have.

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