Tuesday, July 12, 2011
Where are the Jobs?
It has been 10 years of the so called Bush tax cuts that were supposed to be an incentive for the "job creators" to create jobs. Where are they? The latest data indicates that the wealthy have gotten richer during the recovery whereas the job seekers are still seeking. We are now being told that if just cut taxes for the wealthy more and provide more tax breaks for business while cutting Medicare, Medicaid, Social Security, and education programs for the working masses. Does anyone really believe that this plan is going to work? First off as the masses have lost jobs, salary, and benefits their buying power has declined. The reality is that without customers the job creators are not going to hire. What they are doing is cutting operating costs in the United States by off shoring jobs to places like China. US companies are also selling more products in China because there are millions of Chinese customers that now have some money. A better choice than cutting taxes for the wealthy would be to give the job creators the gift that they have dreamed of, the elimination of the minimum wage. That way those low wage jobs could be created here instead of overseas. This won't save the economy unless we have an appropriate reduction in prices, but that hasn't stopped the Republicans from enacting policies that got us to where we are today.