Thom Hartmann: Time to blow a hole in the Republican argument that millionaires and billionaires are the job creators in America. Even the Wall Street Journal is questioning the logic after a survey of 53 economists – in which the majority concluded that it wasn’t “lack of certainty” in Washington that’s preventing CEOs from hiring – but instead it’s lack of demand on Main Street. Time and time again – Republicans argue that we need to give rich people money through tax cuts so that they can go out and hire more people. Yet today - with tax rates for the rich at their lowest levels in 50 years – unemployment is still tragically high. Why is that? Because rich people aren’t job creators! It’s the people who spend money – those in the working class – who are the actual job creators. As most economists point out – if people are spending money – then demand goes up – and CEOs have no other choice but to hire more people to make products to meet that demand. That’s why a debt-limit deal that’s made up of spending cuts that take money out of the pockets of working class Americans is not good for the economy – it’s harming our nation’s REAL job creators! It’s time for our lawmakers to take an Econ 101 class.
No comments:
Post a Comment