Here's The Real Problem With Mitt Romney's Economic Plan: 'Rich People' Don't Create The Jobs

[xchrom]

http://www.businessinsider.com/mitt-romney-economic-plan-jobs-2012-8


America's real job-creators...who can't afford to create any jobs.
Read more: http://www.businessinsider.com/mitt-romney-economic-plan-jobs-2012-8#ixzz232a9Smo1

***SNIP

Romney's plan, in fact, suggests that Romney does not actually understand what's wrong with the economy. The solution he is proposing--giving rich people and companies more cash to spend and invest--will not solve the problem the economy faces right now. So Romney's policies, if fully implemented, aren't likely to help anything.

(In fact, arguably, they will make things worse.)

Specifically, Romney's policies are designed to give more money to wealthy Americans and companies, on the theory that they will then use this cash to invest in other companies and create jobs.
This treatment plan ignores two important things:

The wealthiest Americans and corporations already have plenty of cash to invest. The reason they are not investing it aggressively is not that they don't have it--it's that the investments won't produce a compelling return (because the customers of the companies they would be investing in, average Americans, are strapped).

Contrary to common wisdom, rich people do not create the jobs in this country. Rich people (investors) help create jobs, but no sustainable job is created without the help of a healthy economic ecosystem--one that depends heavily on the financial health of hundreds of millions of American consumers.


Read more: http://www.businessinsider.com/mitt-romney-economic-plan-jobs-2012-8#ixzz232aLu8iS

[HughBeaumont]

1. My GOD, the comments on that article are making me deliver dozens of facepalms.

SUCH utter stupidity by all of the Armchair Trumps and Sofa Kochs, thinking it all begins and ends with The Very Wealthy Man. HORSESHIT. NOTHING is built from the top down. NOTHING. To completely discount the roles of a strong safety net, a strong economy, consumers with spare cash, progressive taxation and a healthy infrastructure to the sustainability and employment rate of a business great or small is nothing but a blatant thinking shortcut, parading long-discredited right wing mythology that's damaging this country greatly.

I cannot believe I'm forced to share a nation with Rupert Murdoch and his Merry Band of low-tooth Idiots.

[xchrom]

3. ...

[aquart]

2. You've tumbled to The Big Lie.

[dmkinsey]

4. This concept needs to be the forefront of Democratic talking points

Unless the average, un-educated blue collar people have jobs the economy can't be fixed.
Furthermore, the deficit didn't cause the recession. Corporate CEO greed & out-sourcing jobs caused the recession which ultimately ballooned the deficit.

[econoclast]

5. Both sides wrong on job creation

The Census bureau and university of Maryland and BLS did a great study that details where job growth comes from. And it clearly shows that most job growth comes from NEW Businesses. Even if those businesses eventually fail (as most do) they are the engines of job creation.

BLS keeps track of businesses less than one year old. The most recent measure of new business creation is the lowest since at least 1995.

No new business creation ... No job growth.

[HughBeaumont]

7. You can blame "no universal health care" on that one.

The longer we refuse to implement Universal Health Care, the greater the corporate stranglehold on the USA becomes. Potential entrepreneurs will be tethered to their jobs rather than strike out on their own. People wouldn't stay in crap wage jobs if the benefits factor was taken out of the picture. Employers wouldn't be allowed to cry "Health care costs!!" as a reason for not hiring or committing rampant age-ism.

It'd be an employEEs market rather than an employERs market.

That's exactly why we'll never see it.

[ananda]

6. Romneyhood: steal from the poor and give to the rich.

nt