| bush's tax cuts for the rich tanked the economy by sapping the government of revenue. we're running the largest deficit in world history. usgov employs millions of americans and hires contractors and their employees to work. if the govt has to save $ by outsourcing to bopal, india and firing american workers, then the tax program has gone sour.
so bush removed jobs with his tax cut. what positive things has the tax cut done? very little. the refunds to most families was a few hundred dollars. that was easily eaten by increased state and local taxes in response to less funding on federally mandated programs and by the slow economy the cuts produced. it gave plenty of money back to the rich but they likely spent it on luxury and foreign items like british jaguars and beachfront property and vacations in the caymans. hardly the kind of demand that creates solid american jobs.
jobs are created by demand. companies hire people to produce products and services that many people want. appliances, electronics, automobiles, machinery, construction, and skilled labor jobs like teachers and doctors. if you give tax cuts to the poor and middle class they will buy common local goods and services, improving local economies and spurring companies to produce more goods and services to meet this market demand and hire more workers.
who would benefit most from these tax cuts? those struggling to stay above the poverty line and common workers. that rent and those groceries will produce more american jobs with local goods and services and improve local quality of life. |