Quote:
Originally Posted by RichieLion
What a lot of people don't understand is that the unemployment rate rising is not primarily due to a loss of jobs but to a dearth of "new jobs". Our economy has to have a constant increase in jobs as our population is ever increasing and more people join the workforce than leave it.
What tax cuts do is encourage investment and growth and job creation. Tax increases and the threat of new more onerous taxes in the future stifle investment and corporate expansion and entrepreneurship.
http://gatewaypundit.firstthings.com...-to-hell-plan/ |
For many years this economic theory has been widely accepted by one political party. Certainly these tax cuts did nothing to create jobs or stir growth considering that in the end this country faced the biggest financial disaster since the Great Depression.
Corporations enjoy great tax breaks from state and local scorces as well as the transfer price loophole. Transfer price allows them to transfer profits offshore and pay little to no US taxes. Aw the Global Economy at its best.
These cuts were sold as temporary to stimulate growth....time's up