If lower taxes on the rich lead to job creation, why don't we have more jobs?

[spin]

If there is any truth to back up the fact that reducing taxes on the rich leads to job creation, why don't we just do away with taxes on anyone who earns more than 250K a year. That ought to create millions of jobs instantly.

We should simply cancel out Social Security and Medicare and let the kids take care of their parents. We need money to keep the military industrial complex functioning well. How can we fight wars all over the globe and spread democracy if we lack the funds. The churches can step in and help if they want. What other propose do they serve except to say things like, "It is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God." What bullshit.

Hell, those old people are just a burden on society and have outlived their usefulness. Perhaps the movie Soylent Green had the right idea; assisted suicide should be offered to the old rather than waste money on extending their life. Only the rich should have the money to get the healthcare that will enable them to live a long life. They deserve it because they are obviously superior as the cream rises to the top.

We should privatize our elementary and high school educational system and do away with useless courses that don't train the future wage slaves the skills necessary to make money for the Big Corporations. Who needs to study history anyway? All that leads to is discontent and rage against the system.

A college education should be priced so high that wage slaves can't afford it unless they take out a loan so large that they will never be able to repay it. That way only the good wage slaves who work hard for the corporation will get the assistance to go to college and only those courses that benefit the corporation will be paid for. Obviously the rich can afford a college education at an elite college for their children and since they are evolutionarily superior to the poor, they desire it.

The poor should appreciate the crumbs they receive from the trickle down theory of economics. They contribute far less to the advancement of society than the rich so they desire far less.

:sarcasm:

Seriously, if we continue down the path we are currently on the middle class will no longer exist and the dreams of the Founding Fathers will be destroyed. The American dream will be merely a footnote in history.

[IndianaJoe]

1. It's an old Republican line

If we just let the rich get more money, they'll "create jobs"! No serious economist believes this.

I've been hearing this same crap from them since the Ronald Reagan era. Remember David Stockman's lies? The "Laffer Curve" and "Voodoo Economics"? Its all a variation on the same theme. It never ends. And the jobs never get created.

[FreakinDJ]

2. That is the $2 Trillion dollar question

[Citizen Worker]

21. Republicons would probably respond that the tax cuts, while a good start, have been inadequate for

job creation. Solution: more tax cuts. Anyone care to wager?

[spin]

24. The Republicans appear to want to do away with all taxes on the rich ...

and cut the budget by eliminating all social programs.

[Octafish]

3. It's been 30 years and there are no new industries to speak of...

...meaning industries that hire new workers.

Money saved through tax breaks went to wherever the biggest return would be. And it wasn't manufacturing in the U.S.

How's that financial sector been doing for your portfolio, Mr. and Mrs. Average American?

[Name removed]

4. Deleted message

Message removed by moderator. Click here to review the message board rules.

[IndianaJoe]

7. We have zero corporate tax and the jobs still go overseas.

1) Exxon Mobil made $19 billion in profits in 2009. Exxon not only paid no federal income taxes, it actually received a $156 million rebate from the IRS, according to its SEC filings.

2) Bank of America received a $1.9 billion tax refund from the IRS last year, although it made $4.4 billion in profits and received a bailout from the Federal Reserve and the Treasury Department of nearly $1 trillion.

3) Over the past five years, while General Electric made $26 billion in profits in the United States, it received a $4.1 billion refund from the IRS.

4) Chevron received a $19 million refund from the IRS last year after it made $10 billion in profits in 2009.

5) Boeing, which received a $30 billion contract from the Pentagon to build 179 airborne tankers, got a $124 million refund from the IRS last year.

6) Valero Energy, the 25th largest company in America with $68 billion in sales last year received a $157 million tax refund check from the IRS and, over the past three years, it received a $134 million tax break from the oil and gas manufacturing tax deduction.

7) Goldman Sachs in 2008 only paid 1.1 percent of its income in taxes even though it earned a profit of $2.3 billion and received an almost $800 billion from the Federal Reserve and U.S. Treasury Department.

8) Citigroup last year made more than $4 billion in profits but paid no federal income taxes. It received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury.

9) ConocoPhillips, the fifth largest oil company in the United States, made $16 billion in profits from 2007 through 2009, but received $451 million in tax breaks through the oil and gas manufacturing deduction.

10) Over the past five years, Carnival Cruise Lines made more than $11 billion in profits, but its federal income tax rate during those years was just 1.1 percent.

[The Big Vetolski]

9. Ahem. And now, a quote from a great movie, "My Fellow Americans"

"You're so full of shit."
--President Douglas(played by James Garner)

[Skip_In_Boulder]

5. I have believed for some time now

That what the Republicans are trying to implement is a culling process to get rid of those who don't contribute to production any longer. We have somewhere between 40-50 million people in America who have no health insurance. Nobody seems to ask the question as to what happens to these people if they get seriously ill. The answer is real simple, they die.

[high density]

6. Where are these business leaders?

Republicans keep whining for Obama to create jobs, all while saying we need to spend less. Governments around the country are cutting jobs!

Corporate America has put our economy into a death spiral by deciding that they don't want to pay anybody beyond top management a livable wage. Then they wonder why demand is slacking for their expensive products and services!

[pitohui]

8. only stupid people believe that low taxes on rich create jobs

what is the point of asking here for us to explain the "logic" of stupid and ignorant minds?

ask the yokels on free republic, assuming that site still exists, or really, there are plenty of hang-outs where you can ask stupid people for the "logic" behind their thoughts

you will be amazed at just how little logic there actually is

the stupid people don't want a strong middle class, they want to pant over celebrities and royals and they don't care about the future of their own children much less about the future of anyone else

at some point we need to acknowledge that stupidity is not something you can talk people out of, it's a disease or genetic defect of the brain that we don't yet have the science to change

people don't get smarter, although smart people can get stupid, through age, injury, dementia, disease, etc...net result is that there is more stupid all the time

anyone who still drools on the rich and on the royal is not deserving of a democrat or a believer in equality's time...we can't reason w. stupid, we have to fight the stupids

p.s. it's admirable that you are still trying to understand their "logic" but i'm sick of trying to understand, at some point, i'd like to see a critical mass of people acknowledge that we don't need to waste our time understanding stupid theories like voodoo economics, trickle down theory, creationism, or the rest of the reagan bullshit -- 30 years of reagan/bush have destroyed the middle class already, 1 percent of the pop holds 40% of the wealth, this could not happen in a true atmosphere of equality, it can only happen when everything is for the rich and nothing is for the rest of us

[izquierdista]

16. Be sure to say hi to Marymary (#4)

:hi: She might not recognize any of the people you are talking about. :hi:

[WinkyDink]

10. Probably had an increase in yacht-building.

http://www.topspeed.com/boats/boat-news/mega-yachtsoctopus-ar32102.html

[Blue_In_AK]

11. Shhhh....

You weren't supposed to notice.

[spin]

19. True, but I did. (n/t)

[glinda]

12. Because it doesn't! Period. End of story on greed.

[tularetom]

13. And why aren't our "liberal" Democratic leaders asking that question every day?

We've had ten years of bush tax cuts and look at the job situation. Anybody who still believes that tax cuts for the uber wealthy will create jobs is delusional.

But the silence from the President and most of our congressional Democrats is deafening.

And by their silence we can only assume that they agree with the "tax cuts create jobs" bullshit.

It appears that they learned nothing from the results of the 2010 mid term elections.

[sad sally]

14. Flash back to December 2010

President Obama: Tax cut compromise is right thing to do
By President Barack Obama - 12/07/10 11:32 AM ET

President Obama gave the following statement after a deal was reached with Republicans over the extension of the Bush tax cuts yesterday:

-snipped-

As for now, I believe this bipartisan plan is the right thing to do. It’s the right thing to do for jobs. It’s the right thing to do for the middle class. It is the right thing to do for business. And it’s the right thing to do for our economy. It offers us an opportunity that we need to seize.

It’s not perfect, but this compromise is an essential step on the road to recovery. It will stop middle-class taxes from going up. It will spur our private sector to create millions of new jobs, and add momentum that our economy badly needs.

http://thehill.com/blogs/congress-blog/economy-a-budget...

[spanone]

15. it's hard to believe they get away with that same old worn out line

if it were true, we'd be swimming in jobs.

[kestrel91316]

17. You don't understand. It's when the rich and the corporations pay ZERO

taxes that the job creation begins.

Really.

[spin]

25. And when that doesn't work, we could always pay corporations ...

to create jobs.

I would actually like to tell the corporations to create jobs or face much higher tax rates. If your corporation creates a fair amount of jobs you get your tax breaks, if not your rates go up.

If you outsource jobs overseas, your tax rate goes WAY up.

[underpants]

18. Because Republicans say so it must be a lie

easy

[kentuck]

20. Good question.

The worst decade for jobs in our history.

But we had the Bush taxcuts. And then we had the extension of the Bush taxcuts. Then we had the Obama tax cuts - small taxcuts to "Make Work Pay" and then the small taxcut of FICA taxes.

In fact, we have the Bush taxcuts at this very moment. Why don't we have jobs? Obviously taxcuts have not created jobs so why can't people accept that fact? Because people do not hire because they got a taxcut. They hire when they don't have enough labor to keep up with the demand for their product. It has absolutely nothing to do with taxes.

So what do they do with their taxcuts?? They can share it with their stockholders. They can hoard it and put it with the rest of their profits and try to buy up their competition. Or they might use it build or purchase a plant overseas so they can make their product cheaper and make even more profits. Or they might invest it in the stock market? Or they might give it to their employees in higher wages? Unlikely, but possible.

The one thing they do not do is take their taxcut, with the already low rates, and hire some more people with it.

So here we are with the lowest tax rates in 60 years and unemployment sitting at 9.2%. Where are the jobs? Why haven't the taxcuts created more jobs? Because it is a bunch of bullshit and it is hightime that the Democrats stop buying into it.

=========

to tridim: I read your post. You were right on your facts. However, we should not look at taxcuts for working people in the same way we would look at taxcuts for the very wealthy. In fact, taxcuts for the working poor and anyone that will spend it will, in fact, help to create jobs. Because they will buy stuff with it. That demand will eventually create jobs. Sometimes after the inventory is depleted? Perhaps you agree?

[daa]

22. Ask Obama he extended the Bush tax cuts where are the jobs???

[toddwv]

23. Easy answer.

Because it doesn't.