georgephillip
Diamond Member
Labor is the life blood of job creation; it is also prior to and independent of capital."Tax cuts in 2001 and 2003 under President George W. Bush were followed by increases in the saving rate among the rich, according to data from Moodys Analytics Inc. When taxes were raised under Bill Clinton, the saving rate fell."Well one thing we know for certain. You sure as hell don't create jobs by cutting taxes on the wealthy. We're the world's saddest authority on that subject and it took us over 30 years to learn it.
Rich Americans Save Tax Cuts Instead of Spending, Moody's Says - Bloomberg
Rich Americans Save Tax Cuts Instead of Spending, Moody's Says - Bloomberg
Jobs come from demand in an economy that relies on consumption to supply two-thirds of GDP.
Much investor class income comes from shipping middle class jobs to slave-wage states like China.
Only one state has ever lost more jobs in a single decade than the US between 2000-2010, and that was the USSR in its last ten years of existence.
So I save my tax cuts where does that capital go?
In a box somewhere?
Every nickel saved is invested.
Savings are invested as capital. Capital is the life blood of job creation.
Americans do not save enough. Tax cuts are always good.
There has never been one job shipped anywhere.
The jobs left because someone more qualified was willing to do the same simple menial low skill dumb ass job FOR LESS.
Called competition, something Americans have lost track of.
You should distinguish between whether your nickles are invested in productive enterprises or used to gamble in Wall Street's casino. Those investing their time and money in 2004 to make mortgage backed securities as big a cash cow as the $12 trillion corporate credit market helped fuel the biggest transfer of private debt into public debt in history.
A debt that will be passed to your children and theirs.
Authentic level playing field economic competition was tried in this country over a hundred years ago, and the capitalists found it was impossible to control. Their solution was monopolies and trusts that have evolved in ways to ensure those who pay the biggest bribes to government prosper at the expense of a majority of productive citizens.
US jobs left because US unions did NOT have voting representatives sitting on the boards of directors of the corporations they worked for, unlike German workers. The jobs may not be coming back; however, the spoils can still be redistributed.