Sactowndog
VIP Member
- Jul 4, 2011
- 818
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Okay I will concede Democrats aren't doing much to help jobs but Republicans aren't either despite their talk.
Job creators and the wealthy despite Republican mythology are not a 1 to 1 match. Many small business owners don't fall in the 1%. They are struggling to meet payroll and all their assets are tied into their business. A capital gains tax cut does them no good. They aren't helped to make payroll or modernize their shop with a capital gains tax cut.
On the other side many wealthy investors generate few jobs with their investments. For example, a hypothetical wealthy investor who invested 100% of his portfolio overseas would receive a significant tax cut without generating a single US job.
Even worse, consider a hypothetical hedge fund manager who wanted to purchase a US company with debt and then pay off that debt with increased cash flow generated by off-shoring the US based employees. For this wealthy investor, reducing the capital gains rate makes the deal easier to do and thus the strategy can be executed with more companies not less. So he is getting a tax break with the net effect being job loss.
The Republicans want you to believe their plan will help with job growth. Mitt will talk about how Obama hasn't delivered job growth. What they won't say is their plan is a cynical plan to help the 1% many of whom are hedge fund managers and won't do a darn thing to help middle class job growth in the US.
In fact, it will hurt it.
Job creators and the wealthy despite Republican mythology are not a 1 to 1 match. Many small business owners don't fall in the 1%. They are struggling to meet payroll and all their assets are tied into their business. A capital gains tax cut does them no good. They aren't helped to make payroll or modernize their shop with a capital gains tax cut.
On the other side many wealthy investors generate few jobs with their investments. For example, a hypothetical wealthy investor who invested 100% of his portfolio overseas would receive a significant tax cut without generating a single US job.
Even worse, consider a hypothetical hedge fund manager who wanted to purchase a US company with debt and then pay off that debt with increased cash flow generated by off-shoring the US based employees. For this wealthy investor, reducing the capital gains rate makes the deal easier to do and thus the strategy can be executed with more companies not less. So he is getting a tax break with the net effect being job loss.
The Republicans want you to believe their plan will help with job growth. Mitt will talk about how Obama hasn't delivered job growth. What they won't say is their plan is a cynical plan to help the 1% many of whom are hedge fund managers and won't do a darn thing to help middle class job growth in the US.
In fact, it will hurt it.