Wednesday, August 1, 2012
The Question for the Day
I saw this on a blog called "political collectables."
I don't think they will mind if I help them sell their wares. It's a good question because it get's at the foolishness in the Republican argument that giving the rich more money is the only way to move the economy. Its' foolish because, as we have discussed this here before, it assume the Rich re-invest in labor intensive stuff. They don't. We saw that with Reagan, where they gave tax cut on the premise that the steel industry would re-tool but they invested in oil and didn't create jobs. We got the rust belt out of that where the Trissate area, Pennsyviania, Kentucky, West Virginia were unemplyed and all the steel mills were rusting away.
Obama's tax plan would keeps cuts for the middle class, jus close the loop holes for those making over $250,000. Don't forget the stemulus package did create a couple million jobs theyw ere just absorbed into the figures becuase unemployment kept climbing abovea and beyond that. A Romney administation would have created those two million jobs.