BREAKING: Top Tier Tax Cuts Don’t Create Jobs

June 28, 2011

News On The Net

Not sure if you knew this already or not, but lowering the taxes of millionaires and billionaires does little to spur job creation in our country.  Please, please, contain your surprise.  To further illustrate what the majority of working class Americans already knew, Think Progress highlighted some of the extreme failures this long supported Republican plan had over the years.

The following chart shows the federal unemployment rate from June 2001 (When the Bush Tax cuts were signed into law) to today.  You will see, the unemployment rate never dropped below the level it sat at when George Bush signed the cuts into law.  The rate actually ticked up 1.5% a year after the policy was put in place.

So, exactly what are Republicans fighting for?  The experiment is over.  It failed.  Let’s move along now.  They also realize, Conservative hero, Ronald Reagan, raised taxes and lowered the unemployment rate in the process, right?

Now, not only are Republicans endorsing policy that has a well proven track record of failure, some are also proposing ways to take more money out of the pockets of working class Americans.  Tea Party candidate for President, Michelle Bachmann, today floated the idea of lowering the minimum wage.

Notice how she paused for a very long time when pressed to clarify her position of doing away with the minimum wage?

Facts are facts.  The American people are out of work and we are tired of flipping the bill for the Republicans to enrich their corporate buddies and Wall St. banker friends.

 

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