Tax Cuts For The Rich Don’t Create Jobs
To The Editor:
The latest Republican feel good word is “job creators.” No more “rich” or “wealthy.” Tax breaks, loopholes and outright tax cuts now go to “job creators,” because everyone agrees that America needs jobs, and “job creators” create them.
Meanwhile, the 400 richest Americans now control as much wealth as the poorest 155 million. In other words, the wealthiest 400 people, financially, equal half the nation. The average CEO salary, 40 times his average employee’s 35 years ago, is now 400 times the average employee’s.
American corporate profits have tripled since 1990, and even in this “tough economy” business earnings are up 13.6 percent from a year ago!
During this unprecedented redistribution of wealth to “job creators,” American workers’ productivity has risen, but the middle class has shrunk, the poor have gotten poorer, the cost of almost everything has risen, jobs have been outsourced or replaced by technology and unemployment has doubled. The U.S. now has the greatest disparity between rich and poor of any major nation.
Meanwhile, over the past 30 years, and especially during the Bush administration, the federal tax share paid by “job creators” has dropped to its lowest level since the 1950s.
And yet, from upper echelon Republican dogma regurgitators like Mitch McConnell, Rush Limbaugh, Fox “News” and Bill Shuster, down to local leaders and assorted “dittoheads,” we hear: “We can’t allow anything that might cause ‘job creators’ to pay a penny more in taxes because they won’t hire workers. And even worse, they’ll pass the costs down to you!”
So I ask a simple question. At what point will taxes on “job creators” be low enough that they’ll actually begin to create jobs, the costs of goods will drop and everyone in Republican wonderland will be happy?
Chairman, Franklin County