dagblog - Comments for "Stimulating the Rich: How many jobs will they need to create to keep their tax cut?"

Sigh. I'm pretty sure nobody

AmericanDreamer — Sat, 06 Aug 2011 04:36:01 +0000

In reply to Thank you, American Dreamer.

Sigh. I'm pretty sure nobody ever reads those e-mails.

Well, you never know. Good for you for making the effort and for putting your thinking out there here at dag. I hope it gets traction, I really do. It's one of the more creative ideas I've come across on this huge problem. And it has the great benefit of lending itself to readily comprehensible humor and ridicule of bad arguments. Please keep us posted and I hope you'll ask for specific, manageable things we can do to help.

Thank you, American Dreamer.

erica20 — Fri, 05 Aug 2011 04:57:25 +0000

In reply to I do have a question--how

Thank you, American Dreamer. I will follow up.

I did e-mail the President today, suggesting that he use his 3-day bus tour to talk instead of listen--and to suggest that now that the Republicans have clearly put the government out of the business of creating jobs, the onus falls on our other "Job Creators," namely rich people in the private sector. So it's up to them (the "Job Creators") to create 2 Million good paying (meaning no drop in median wage) jobs by Christmas or the rest of us are going to take their tax cut and use it for job creation in 2012. So they'll have a few months to make something of their tax cut or get it yanked.

I also suggested that he keep it really simple and clear, so that by Christmas, even the most low-information voter would understand that their true interests are not served by the Tea Party or the Republican Elite, but by Democrats.

Sigh. I'm pretty sure nobody ever reads those e-mails.

I do have a question--how

AmericanDreamer — Thu, 04 Aug 2011 20:52:56 +0000

In reply to We should give this some

I do have a question--how long have the rich had this tax cut?

This would need verification but looks correct:

From Wikipedia, the free encyclopedia

The Bush tax cuts refers to two laws created and passed during the presidency of George W. Bush that generally lowered tax rates and revised the code specifying taxation in the United States. These were the:

Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA)
Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA)

While each act has its own legislative history and effect on the tax code, the JGTRRA amplified and accelerated aspects of the EGTRRA. Moreover, since 2003 the two acts have often been spoken of together, especially in terms of analyzing their effect on the U.S. economy and population and in discussing their political ramifications.

And during that time, how many jobs have they added to the economy? (I suspect the number will be a negative.)

We had no net new job creation for the first decade of this century--the first time that we did not have positive job creation in the US since the 1930s. Try emailing someone at the Economic Policy Institute press office to get what you want. They're a progressive advocacy organization, not a government agency. But they are reputable, they don't play fast and loose with the data like some advocacy groups do, and may help you figure out exactly what data you want if you're not sure. You can also ask them for a contact to verify the info with the appropriate government agency or official provider of the jobs figures.

Sounds good to me, although I

Verified Atheist — Thu, 04 Aug 2011 20:24:43 +0000

In reply to We should give this some

Sounds good to me, although I want to insist on the caveat that median wages don't drop as a result of those new jobs, or at the very least that they don't drop in a statistically significant manner.

As for the number of jobs added during this tax cut, it's definitely a negative number.

The victim belongs to the

erica20 — Thu, 04 Aug 2011 20:23:22 +0000

In reply to People are people. Having

The victim belongs to the spoils....ewww. None of us will be able to sleep tonight, thinking about that.

We should give this some

erica20 — Thu, 04 Aug 2011 20:21:38 +0000

In reply to I, too, think it's a great

We should give this some thought. I like the idea of using numbers of jobs because it will appeal to the ordinary person. Seems like somebody would be a more likely to say "I'd like to be one of that 2 Million" than "I'd like to be part of that 1%."

So how about "2 Million good-paying jobs by Christmas" (which probably translates to a 1% drop in unemployment with no decrease in median wage....) then the follow-on line could be "C'mon Rich People, earn your x% tax cut by dropping unemployment by 1%. It's only fair."

I do have a question--how long have the rich had this tax cut? And during that time, how many jobs have they added to the economy? (I suspect the number will be a negative.)

Nice one, VA!

erica20 — Thu, 04 Aug 2011 20:11:37 +0000

In reply to For example, nobody makes

Nice one, VA!

People are people. Having

Flavius — Thu, 04 Aug 2011 16:55:48 +0000

In reply to Oh Flavius, you with your

People are people. Having money or being American doesn't change that.

Microsoft is a tough competitor and most likely behaves illegally when the prize is worth it. I've never known any company of which that wasn't true. But Bill Gates seems to be trying to do some good.

Giving any group of people absolute power is bound to do what Lord Acton said whether that's a group of the rich or the homeless.

Same effect on the people we elect President. The victim belongs to the spoils.

For example, nobody makes

Verified Atheist — Thu, 04 Aug 2011 15:38:21 +0000

In reply to Oh Flavius, you with your

For example, nobody makes expensive stuff that will eventually explode in foreign countries as well as we do!

I don't know, Sony was doing a pretty good job with their laptop batteries for a while...

Erica, I very much like your

AmericanDreamer — Thu, 04 Aug 2011 15:35:16 +0000

In reply to Hi Stilli, I think there are

Erica, I very much like your thinking. As you say, the "it" is not crystallized yet into a specific act or proposal, so I find it difficult to know what to promote. I will call attention to it on my FB page. If and when there is something specific you would like us to do beyond that I hope you'll ask us.