That same ol’ catchphrase is still ringing in the ears of Americans everywhere: that of the “job creators.” In these hard times of high unemployment, it’s all about these mysterious job creators, whom we’re
desperately awaiting to save us all.
From my understanding, these supposed job creators are corporations owning a certain level of wealth. Yet, how is it that they still retain this moniker when they are not creating any jobs? (Perhaps, just perhaps, it’s time to look for a new messiah to save us from the crisis. As Einstein said, we can’t solve our problems employing the same ideas -in this case, entities- we used to create them. )
So the conservative narrative surrounding job creators and tax cuts declares that if we tax them one single cent more than we already are, then they will not create any more jobs. (Which they have not been creating anyways.)
Here’s the real question I’m getting at, and its quite simple: President Bush’s tax cuts on these “job creators” lowered their taxes to unprecedented levels. Yet it was also under these same tax cuts, that the entire financial crisis began.
Under the system of changes to the tax code that Bush instated (known as the EGTRRA of 2001, and the JGTRRA of 2003) the “job creators” began slashing jobs at an alarming rate.
So how can it be, as the Republicans argue, that tax cuts inspire “job creators” to create jobs? When in fact, history proves the opposite: that the tax cuts did NOT spur growth. It is a stretch to say for certain that the tax cuts actually destroyed jobs, but they certainly did not create them. What these supposedly miraculous tax cuts DID do is severely increase the budget deficit and contribute to an enormous and growing income inequality in the US.
It’s time for the discourse to discard this fallacy and move forward. President Obama extended these same tax cuts I speak of for two years until 2012. Let’s make sure they stop there.
Maggi Fermier is a political scientist who spent the last four years studying politics scientifically in Paris, Budapest and Southeastern Africa. With a lust for social movements, she is excited about the recent movement out of apathy in the US, and enjoys contributing to independent media. She spends her time reading blogs, writing blogs, and taking thousands of photos…to post on her blog.