Saturday, August 13, 2011

After 10 Years of Tax Cuts The GOP's Job Creators Haven't Delivered Jobs

Economics is not always an easy subject for most Americans to understand, but if one excludes stocks and bonds that the majority of working people never have the opportunity to trade or invest in, they do understand that simply cutting spending is not going to solve America’s problems. Of course, for Republican supporters whose ignorance embarrasses pea-brained songbirds, the mantra of cutting spending, taxes, and eliminating regulations will create jobs makes perfect sense.  Regardless what makes sense to Republican supporters, there is no possibility that spending cuts alone will grow the economy or create jobs.

The Republicans in Congress have been on a spending cut frenzy since they began their assault on workers and jobs earlier this year, and the economy has not improved or grown like it should have if the GOP’s assertions were correct. At last count, the spending cuts Republicans have proposed will cost Americans nearly 2 million jobs making the GOP the job-killing masters. It is really a twisted concept to understand, but for some unknown reason the Republicans have convinced their supporters that the jobs picture and the economy will improve by enacting spending cuts and maintaining the Bush-era tax cuts. Both spending cuts and the wealthy’s tax cuts will never ever result in job creation and it reinforces the notion that Republicans are not the least bit serious about creating jobs or growing the economy.

If the Republicans had their way and slashed education, Social Security, Medicare and Medicaid, and all programs that Americans depend on, there will still be bills to pay for the bloated defense budget, oil subsidies, and the Bush-era tax cuts for the wealthy. The savings from severely cutting those programs will still not add revenue, and when those programs are slashed, the millions of jobs lost will result in lost tax revenue that puts the economy in a worse position than it is now. The only difference is there will be millions more Americans living in poverty with no safety nets to sustain them, but of course, that is part of the Republican’s plans over the long term. When President Obama suggested keeping the payroll tax holiday to stimulate spending that does create jobs, Republicans balked because they need the revenue to maintain the military, oil subsidies, and tax cuts for the wealthy. Increasing the payroll tax will not affect the wealthy or the corporations they own so Republicans are happy to see it increase.