It's true. Tax cuts really do create enormous opportunities. As we speak, pillagers and pirates are descending upon us in unprecedented numbers, and boy do they ever have jobs, big jobs with big scores. In the recent past, Con-Men used to sell bogus pens and maybe roofing material. They often lived in efficiency apartments or even motels, or trailer parks, like the Williams families, or the gypsies. They worked hard to take our money.
Now, the pillagers are rich. And they do not work hard to take our money -- they let the institutions they now manage do it for them. We have the highest paid "executives" in the world, and what do they have to show for their seat upon the laurels of leadership?
Not content with grabbing the largest profits in the history of business the Executives have achieved tax cuts -- they pay very little for their prosperity which the middle class subsidizes. The economy is not in a recession -- it is in a blowout. Rich people are milking so much out of our institutions, very little is left for any growth. Labs are underfunded, research money has dried up, and there are virtually NO wonderful "start up" enterprises, projects or hiring booms on the horizon.
Look at it this way: After the rich people bought the elections which enabled them to "enact" tax cuts, were jobs created? Do Executives spend time developing and implementing Vision for their companies? No. They are too busy crafting sham accounts for their thefts -- there is just no time left in their busy golf and vacation schedules -- "lobbying" -- to build companies and hire the disenfranchised labor forces.
Here are the US statistics: During the first six years of the Clinton administration, 18 million jobs were created. During the first six years of the Bush administration, 4 million jobs have appeared, but 2 million people lost their jobs. 2.8 million new jobs have been created as a direct result of the expansion of government spending -- mostly in the military {Lee Price, Economic Policy Institute} . If you subtract the government employment from the total, our private economy produced a negative 800,000 new jobs.
The private business Executives achieved this negative growth in the face of huge tax cuts, rock bottom interest rates, completely dismantled government regulation, widely-disregarded environmental precautions, and unprecedented government spending while cutting back on criminal prosecution for Board room breaches of fiduciary duty.
Is there anything unclear or ambiguous about the numbers?
REAL ESTATE. And what is the single largest source of "job creation" in the US at the present time? Real Estate. Since 2001, 40% of the new jobs created by businesses are connected to the real estate boom. 70% of the rise in newt worth of US households stems from rising home values.
ReplyDeleteThis home appreciation is "real" money, but it will not help us if we cannot earn enough to pay our mortgages. Twenty years ago, Japan's real estate prices rose rapidly creating more millionaires in Tokyo than any other place on the planet--and yet, since then, the Japanese economy has tanked.
But even more significantly, is the rise in real estate the result of Tax Cuts or government spending? Short answer, NO. It may have something to do with low interest rates, and huge numbers of foreign immigrants who need homes.
So, could the numbers be any clearer? The creation of a few jobs, virtually all of which are UN-related to Tax Cuts, does not show that enormous subsidies to the richest people in the country is somehow helpful to the Middle Class.