Friday, March 28, 2014

Makers not making?

One of the arguments that conservatives make every time anyone tries to discuss raising taxes on the rich (as opposed to raising taxes on the poor which they are ALWAYS in favor of) is “You can’t tax the job creators. They need that money to create jobs.” Conservatives make this argument 100% of the time, even when corporate and individual tax rates are, and have been, at historic lows.

So, while the U.S. is still suffering significant employment problems six years after the economy tanked, we have this:
After-tax profits for American corporations hit another record high last year, rising to $1.68 trillion. Link
If there’s a causation between the rich having more money and job creation, this should mean that unemployment is also at record lows, right? I mean, the Job Creators have record amounts of money, they should be creating record numbers of jobs, right?

The answer is of course not, because it’s not a real argument. It’s just obfuscation and bullshit, to keep the rich rich. Workers have been increasing their productivity, increasing profitability, and wages for everyone but the top management haven’t been growing commensurately. Income inequality is increasing.

Maybe it’s time we try something not demonstrably wrong.

No comments: