It Didn't Take Them Long, Tea Party/Conservatives Imply "No Jobs for Americans" 
IS THIS WHAT THE TEA PARTY REALLY WANT
Bank of America Cutting 30,000 Jobs ...
... and the Tea Party/Conservatives today just started chanting "no new jobs, no new jobs, no ...", well sort of. What they are really saying is "no new investment which will hire Americans" and "no increase in taxes on wealthy Americans (which DO NOT kill jobs by the way) to help pay for the investment.
Eric Cantor and John Boehner both came out swinging today, Tuesday, September 12, 2011, saying yes, we should extend the payroll tax cuts for the middle class but not increase taxes on the wealthy to pay for it. Instead, their solution is to increase unemployment and therefore unemployment benefit costs by firing thousands upon thousands of federal workers and private workers working on federal contracts.
Now, Eric and John, or Mitch McConnell for that matter, don't come right out and say "fire", of course, that is politically incorrect, instead, they sugar-coat it and call it budget cutting; it is the same thing though; the 30,000 jobs that Bank of America is eliminating, the reason is budget cutting, $5 billion worth! What are the Conservatives trying save on the backs of federal workers? A couple of trillion? You do the math.
Thoughts on , hehe, "Job Killing" Tax Hikes
Also, a note on my parenthetical comment in the first paragraph that I have been wanting to dilate on; raising taxes on the wealthy is a "job killing idea" ... NOT, no it isn't, no way, no how, nope, not on your life, etc. I have been wanting to address this but have neglected to do so; now I have my chance.
The Conservative argument makes one huge FALSE assumption - Most millionaires and billionaires use much of their wealth to create jobs.This statement has to hold true for the Conservative's claim to make any sense; if any part is false, their whole argument falls apart; that should be obvious and go without further analysis for any rational person. So, the real questions are: 1) Do the very rich use there money in a way that is intended to create jobs, 2) do those very rich who do so, use most of their money to do so, and 3) do most of the very rich pursue this goal of creating jobs?
Here is who makes up the very rich:
- According to surveys from CNBC, health care professionals hold 14 of the top 20 of the highest paying jobs in America; according to Forbes, health care professionals hold 14 (the same ones) of the top 25.
- In both, CEOs, the first non-healthcare profession listed was 9th and 10th, respectively.
- Next are lawyers, 15th and 16th, respectively.
- From there we finish up with various managers and air traffic controllers.
- Only one of the above is really responsible, in a big way, for hiring people, the CEOs; they represent a very small percentage of the total, however.
- Others, from 17th place on down, generally are managers of one sort or another.
Given the above, it seems like most of the wealthiest people are ones who might have the least interest in job creation; CEOs only came in 9th or 10th. I admit, the top CEOs total wealth is probably much higher than many well-to-do surgeons, but there are very few of them so my point probably is robust.
What is the effect of the tax hike on the really, really rich? Well, if you gross one million dollars ($1,000,000), are married, don't have kids, and don't itemize, maybe $40,000. If you itemize, it will be less. If you have capital gains and dividends as almost all the very rich do, it will be much less.
So, back to the question, since physicians (612,000 strong) make the most money when compared to CEOs (102,000 strong), and constitute the majority of the very rich in this country, do they focus on spending most of their discretionary money the same way the Conservatives are telling you the CEOs are, on investments whose sole purpose is "job creation"? If you think so, I have bridge in Brooklyn and some swamp in Florida that I want to sell you, lol. (BTW, that result surprise me.)
Bottom line, the Conservative propaganda campaign to make America's believe a tax hike on the wealthy will "kill jobs" is just that, propaganda and, because it is, must be repeated often before the lie becomes truth.
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© 2011 My Esoteric
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