Raising taxes on the rich will increase jobs

[immoderate]

In listening to wingers on C_SPAN and other venues I get the impression that they believe that when you cut taxes for the rich, they will be so grateful, they will then give us jobs to help us out. One phrase that caught my ear on WJ this morning: " who provide us with jobs."

Just the opposite should be true. People become rich, well some of them, by exploiting the skills and labor of others. If we deprive them of money, they will hire more people so they can get their cut. Giving them tax breaks does not motivate them to share the wealth. Nobody creates jobs because they have too much money lying around.

Edit: I misspelled C-SPAN

--IMM

[Renew Deal]

1. Clinton raised some taxes an more jobs were created.

The wingers are full of shit.

[JoeKSimmons]

7. Did the big dot com surge and Y2K purchase have anything to do with it?

Of course not...it was all because business loved Clinton and created jobs to show their faith and honor to the great leader. After Clinton left they showed their disgust with Bush and layed them all off.

It's that simple.

[SharonAnn]

2. The only real value, real wealth comes from labor. Without it

there is no value created. Think about it, if nobody works, there is no wealth because there is nothing produced.

Nobody "gives" jobs. They "hire" people to perform labor to create wealth.

[jbm]

3. I've been thinking lately..

that the real path to job creation is to forget about the big guys,and concentrate on start-up businesses. All of the people that are unemployed are not going to just roll over and give up when their unemployment runs out.Many of them are going to create their own jobs somehow,and the successful ones will create jobs for others.

I know small business has always been the backbone of the economy,but the money continues to flow to the big guys. I'm a bit of an optimist. I think the jobs will come,but they will come from the people that are desperate right now.

[amazona]

10. most new business fails in 5 years

The overwhelming majority of start-ups fail. The desperate people who decide, if I can't get a job, I'll start a business, will mostly fail spectacularly and lose everything. I've seen it over and over through out the Reagan/Bush era. Keep in mind, when you start your own business, you have NO benefits and, if you are over 40, it is getting near impossible in many states to buy health insurance at any price. I've been self-employed for over two decades. I would never advise anyone to go down this path. If you are jobless and you decide to invest what you have of your savings in a business rather than aggressive job hunting or relocating to a cheaper area, the most likely outcome is bankruptcy. I have never hired an employee and never will -- it is better to keep your business small enough that you can handle it yourself because the paperwork, taxes, etc. is just too big of a hurdle. Before you hire, you have to be VERY sure that you have a profitable business, because if you screw up on payroll taxes, your future is basically ruined forever -- it is much worse than falling behind on regular income tax.

Keep in mind, when you get a job, you only have to convince ONE PERSON or company to give you money for your service. When you have your own business, you have to convince MULTIPLE people or companies to give you money for your services. If you can't convince one person to do it, it's highly unlikely you'll be able to convince multiple people.

If the hope for the future lies with we small business owners, there is no hope. There are lots of self-employeds/small shopkeepers in the third world.

[Jeebo]

4. This whole RW notion is completely bogus...

How can the righties believe this utterly preposterous notion of theirs that the way to help POOR people is to give scads of money to RICH people? Do they REALLY believe that?

Ron

[BradCKY]

5. I just don't get

They should be cutting taxes for the middle class and poor (who are far greater in number) if they want to stimulate the economy. After all those are the people with a limited amount of money and are most likely to spend a tax cut.

[unblock]

6. they hire for one reason: to make MORE money

taxing more or taxing less actually doesn't matter directly.

regardless of taxes, if hiring makes them more money, they'll do it. if firing makes them more money, they'll do it.

simple.

[JoeKSimmons]

8. Business owners are pissed because they got a tax cut

That's why they laid people off. When Kerry wins and takes back their tax cut they will rehire these people in gratitude of Kerry's vision and heroism.

[Fla_Democrat]

9. Public sector, or private sector jobs?

:shrug:

I can see how it might create more government jobs, but I am a bit of a econo-novice. How could it create more private sector jobs?

[Bandit]

11. Democrats want to work from the bottom up while the GOP goes from the

Top down. Except it really doesn't ever go down it is constantly going up. The rich do not get richer by trickling their money down, they get richer by having everyone's money trickle up and it is getting to be much more than a trickle. I am amazed they constantly get away with such matter of fact proclamations of how the economy works. They have been proved wrong time and time again but they continue to spew their crap with authority and no one questions their assumptions. You can indeed raise taxes on the upper end during economic downturns and still spur the economy. Clinton proved this. Tax cuts do not spur the economy all the time. It is like a store putting one item on sale half price to draw people in. They may lose on the one item but overall sales should go up. But if you put every item on sale half price what you have is a going out of business sale and that is what Bush* has done. America is having a going out of business sale.