Monday, May 21, 2012

The True Job Creators are Middle Class Consumers. Tax the Rich. It's Smart

TED video you weren't supposed to see

1.  Rich people do not create jobs Nor do businesses large and small.  They are created by a circle of life feedback loop between business and consumer.
2.  Hiring more people is a course of last resort for businesses.  Business do not create jobs unless there is a demand for their product, not because they have extra $$ in their coffers.  $$ does not spur investment in jobs unless there is demand.
3.  Who creates the demand??  People with  $$ to spend.
4.  When lowest tax rates and biggest tax breaks go to rich, the only thing that happens is that the rich get richer. 
5.  Since 1980, top 1% income has tripled (where do you think that money is coming from?) and their tax rate has dropped 50%.  If it were true that tax breaks for the rich increaased jobs, we would be drowning in jobs.
6. Language:  it's a small jump from  "job creator" to "creator".  The rich are making a claim on status and special privileges they deserve.
7.  35% top marginal rate on working income vs. the 15% rate on capitalist's carried interest, capital gains and dividends is kind of hard to justify without a kind of deification.
8. When the middle class thrives, businesses grown and hire, and owners profit.
9.  That's why taxing the rich paying for investments that benefits all is such a great  idea.

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