Jobs are not being created! Millionaires and billionaires have the low tax rate right now and they are NOT doing a DANG thing to create jobs! What makes the morons think that if they extend their tax cuts (at a cost of adding $700 billion to the deficit they claim they want to reduce) that the millionaires will suddenly start creating jobs? Besides, they will get the same tax cut as everyone else – a cut on the first $250,000 of earnings!
Companies have millions in cash on hand and are just sitting on it! Why? Because the middle class is under attack and we are shelling up! We are not spending on stuff – therefore no demand (read that link!), therefore no job creation. Its NOT millionaires and billionaires who create jobs. It is We, The People, who create jobs – the middle class who purchase products and services. We create the demand that requires those jobs to be created.
Another question on this topic is why are the media outlets not pointing this absolute fact out? How can they ignore the stupidity of the idea that the rich create jobs? They are only, what 2% of the population? 2% can not create the demand for product that creates jobs!! 10% couldn’t drive demand!
Ever since the advent of “Supply Side” economics – also known as “Voodoo” economics – the middle class has been under attack and stagnating or declining. You can “Supply” all you want – but if the middle class – the “Demand” side – has been drained dry, all purchasing power drained out by high cost of living, outrageous interest rates and predatory lending practices, then you are not going to sell much of anything.