How do we create jobs? Corporations are reportedly sitting on piles of cash, so I don’t see taxes as a big influence … even though some believe lowering corporate taxes would help. At the same time, some of our largest corporations pay no income tax at all.
And when the I-R-S reports only 3% of small business owners earn more than $250,000 a year, I doubt that raising taxes on the wealthiest Americans to year 2,000 levels will have much impact on jobs. Frankly, putting more money into the hands of more people might stimulate middle-income Americans to buy something besides necessities.
I wonder about the overall impact of taxes on job creation, beyond short-term stimulus.
It seems to me job creation occurs when more Americans have more money in their pockets, and not when a few Americans have bigger sums of money in their pockets.
Nothing happens until somebody buys something. And with stagnant wages for middle-income Americans … and rising costs for everything from gas to school … it’s difficult to convince folks to go shopping.
Our thought for today is from Ayn Rand:
“Upper classes are a nation’s past; the middle class is its future.”