There's only one hole in your lower taxes and less regulation = jobs. It has nothing to do with market driven capitalism. But then, getting past the rhetoric, the Republican party has never supported free markets, including labor markets.
Jobs occur as a response to market conditions. Taxes are a very small factor on jobs. In fact the greatest period of job creation in US history occurred in the post WW2 era when taxes and regulations were at their highest in history. How do you explain that?
All of the troops returning home got low interest home loans, GI bill
we have had 20 million illegals added
We are in a much different economy also. Now I want to ask you a simple question and I am going to us myself as an example
Clinton's de regulation with a GOP congress created a wealth of work, especially when it came to energy (for me)
When GWB tax rates came into effect it allowed me to bring home about 4,000 a year more, some 3,000 (saved from my taxable income)
now I would offer that you multiply that by millions of people that are in the same boat, what did we do with that extra wealth?
we spent it
You take that wealth away from us, what does the Govt do with it?
I will let you answer that, but think about legacy cost as well as how much value that dollar loses as it changes hands
I would say that the deregulation of the nineties did create some jobs. In retrospect what was actually created was a bubble. The jobs created were mostly in service industries. Specifically financial services. In fact jobs of wealth generation, i.e. factories continued to decline during the Clinton years right up to the present day.
The Bush Tax cuts are now over 10 years old. And the job creation during that period is the most anemic in history. Taxes were raised by Clinton, job growth occurred. Taxes were lowered by Bush and job growth tanked. Taxes were first lowered then raised by Reagan and job growth occurred.
As far as regulation, I've worked in high tech my entire career. When I started we were polluting water supplies, dumping toxic waste fumes into the atmosphere and who knows what other unhealthy activities. I still work in High Tech in America and we don't do any of those things. Regulation drove industry to solve problems. We were up to it.
Here's another example on a small scale. My wife owns a Dry Cleaning Plant. Years ago the chemicals and waste from plants spoiled water supplies. Today it is a highly regulated industry that is among one of the cleanest. Waste is collected and properly disposed of. DEQ regulates and at least in my area works with the industry to come up with solutions to the problems that needed to be overcome. We are closing this business this year. Several people will lose their jobs. The reason has nothing to do with regulation of taxes. In fact, we will make a good return by closing the plant with all the write offs of taxes. The reason we are closing is simple. There aren't enough customers to support the business anymore.
The simple rule of capitalism is DEMAND creates markets and drives investment. For 30 years American government policy has shifted its support from the worker to the investor. The results speak for themselves. Investors are taking their production off shore for cheap labor. They are allowed to then bring their wares back to America sell at no penalty. It works great for the investors they get a good ROI on their investment. So whats the problem? In the long run, which we are now experiencing, the continued steady loss of American jobs is killing demand in America.
I'm all in favor of helping corporations IF THEY CREATE US JOBS. To simply pass out breaks to corporations because they are corporations does not help the US economy.
A federal tax break for a corporation to open a factory in the US makes sense. If that company takes the tax break and opens another factory in China, or Mexico, then the Tax Break has not only not helped America, it has driven another dagger into our own economy.