My Political Opinions

Wake Up America

Speaker Boehner Asks But Doesn’t Answer

July 12th, 2011

Speaker Boehner continues to ask Obama why the stimulus package has not created jobs and the answer is quite frankly it has. The last years of the Bush administration we were losing more jobs every month and after the stimulus package there was a direct reversal as the chart below shows.  The Republicans do not want to admit that slowing down the hemorrhaging of jobs is a positive step.  No one wants this high of unemployment, but without the stimulus package where would we be now?

My Question to Speaker Boehner and GOP

Mister Speaker, could you please justify this quote?

“What some are suggesting is that we take this money from people who would invest in our economy and create jobs and give it to the government. The fact is you can’t tax the very people that we expect to invest in the economy and create jobs,” said Speaker of the House John Boehner

Really !  The fact is tax rates have been at a forty year low for the last 10 1/2 years, so my question to you Mister Speaker is where are the jobs?  The truth is this trickle down economics history has proven to be bogus, which I will show below but I would argue it is even more flawed in this modern day world market.

There is nothing to say that the money the supper rich save with lower tax rates will even stay in this country and I would argue that it has been flowing out of this country to where ever the best ROI (Return on investment) can be found, and that is fine it’s their money to invest as they see fit, but don’t feed the American a bunch of BS and say raising the tax rate will kill jobs.

According to http://thinkprogress.org/

History doesn’t back up the GOP’s claim. In fact, as Center for American Progress Director of Tax and Budget Policy Michael Linden found, “in the past 60 years, job growth has actually been greater in years when the top income tax rate was much higher than it is now”:

For instance, in years when the top marginal rate was more than 90 percent, the average annual growth in total payroll employment was 2 percent. In years when the top marginal rate was 35 percent or less — which it is now — employment grew by an average of just 0.4 percent.

And there’s no cherry-picking here. Pick any threshold. When the marginal tax rate was 50 percent or above, annual employment growth averaged 2.3 percent, and when the rate was under 50, growth was half that.

In fact, if you ranked each year since 1950 by overall job growth, the top five years would all boast marginal tax rates at 70 percent or higher. The top 10 years would share marginal tax rates at 50 percent or higher. The two worst years, on the other hand, were 2008 and 2009, when the top marginal tax rate was 35 percent. In the 13 years that the top marginal tax rate has been at its current level or lower, only one year even cracks the top 20 in overall job creation.”

So Speaker Beohner or anyone else in the GOP how can you continue to tie lower tax rates to job creation when history does not support your claims?   And if lower taxes are the answer and we have been at the lowest rates in the last forty years for the last 10 1/2 years, then were are the jobs Speaker Beohner?

Now don’t get me wrong, I don’t want to see higher tax rates on anyone, but I also don’t want to see cuts to Social Security, Medicare or the many other programs on the chopping block.  The sad facts are we will probably need to see cuts where I don’t want to see them, so then why are you also not willing to talk about raising revenue by closing tax loopholes and taking the tax rates back to where they were under President Clinton when the economy was strong?

So Mister Speaker now that you have been given a History lesson (which you already knew) lets get serious and stop this My way or the highway style of governing…  The President in my horror agreed to put the entitlement programs on the table, and you still can’t talk about raising taxes, even though you know it has nothing to do with job creation.

When are we going to Wake up America ?

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