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After 10 Years of Tax Cuts The GOP’s Job Creators Haven’t Delivered Jobs
Economics is not always an easy subject for most Americans to understand, but if one excludes stocks and bonds that the majority of working people never have the opportunity to trade or invest in, they do understand that simply cutting spending is not going to solve America’s problems. Of course, for Republican supporters whose ignorance embarrasses pea-brained songbirds, the mantra of cutting spending, taxes, and eliminating regulations will create jobs makes perfect sense. Regardless what makes sense to Republican supporters, there is no possibility that spending cuts alone will grow the economy or create jobs.
The Republicans in Congress have been on a spending cut frenzy since they began their assault on workers and jobs earlier this year, and the economy has not improved or grown like it should have if the GOP’s assertions were correct. At last count, the spending cuts Republicans have proposed will cost Americans nearly 2 million jobs making the GOP the job-killing masters. It is really a twisted concept to understand, but for some unknown reason the Republicans have convinced their supporters that the jobs picture and the economy will improve by enacting spending cuts and maintaining the Bush-era tax cuts. Both spending cuts and the wealthy’s tax cuts will never ever result in job creation and it reinforces the notion that Republicans are not the least bit serious about creating jobs or growing the economy.
If the Republicans had their way and slashed education, Social Security, Medicare and Medicaid, and all programs that Americans depend on, there will still be bills to pay for the bloated defense budget, oil subsidies, and the Bush-era tax cuts for the wealthy. The savings from severely cutting those programs will still not add revenue, and when those programs are slashed, the millions of jobs lost will result in lost tax revenue that puts the economy in a worse position than it is now. The only difference is there will be millions more Americans living in poverty with no safety nets to sustain them, but of course, that is part of the Republican’s plans over the long term. When President Obama suggested keeping the payroll tax holiday to stimulate spending that does create jobs, Republicans balked because they need the revenue to maintain the military, oil subsidies, and tax cuts for the wealthy. Increasing the payroll tax will not affect the wealthy or the corporations they own so Republicans are happy to see it increase.
When Republicans do talk about jobs, they always refer to cutting taxes for the “job creators,” but after ten years, the job creators have not delivered. Any savings from Republican spending cuts are going to be used to continue the corporate entitlements and defense budget. If an average working family cuts their expenses, they still have to eat and have a roof over their head and without increased income, one or the other has to be eliminated and the government is no different. At this point, Republicans are making efforts to starve the government, but there are still bills to pay for those two unnecessary wars the Bush-Republicans charged to the American people. A great majority of this nation’s debt is the interest on the borrowed money to fund the wars. Since America pays its debts like working families, something has to give before the country starts going backwards.
The spending cuts Republicans have proposed are for one purpose and one purpose only; to maintain the wealthy’s entitlements and the defense budget. They have nothing whatsoever to do with creating jobs or helping the economy much less setting America on a stronger financial footing. The reason Republicans want to cut Social Security and Medicare is because there is a substantial amount of money sitting there that can be used for tax cuts for a few more years. The spending cuts that are decimating American jobs are also going to limit middle class tax revenue Republicans need for the wealthy’s entitlements and without them, they have to find the money somewhere. At the end of 2010, there was approximately $2.5 trillion in the Social Security Trust that is expected to last until about 2038 if nothing changes. Those funds exist because American workers pay into them with every dollar they earn and it kills Republicans they cannot get their hands on the money to turn over to corporations and the wealthy. Even if Republicans could raid the Social Security or Medicare Trusts and continue extreme spending cuts, there will not be any jobs created.
The only way to increase jobs is a serious stimulus to put Americans back to work because corporations and the wealthy are not going to hire new employees. Many businesses have said they are not going to hire new employees because Americans are too poor to buy their products. As more Americans lose their jobs to the Draconian spending cuts, businesses are going to start going under. No-one can blame a business for being afraid to create jobs when the population is struggling to pay for food and shelter, much less durable goods like washing machines, cars, and televisions. The Republicans have created a dangerous situation that is eventually going to devastate business as well as middle class America.
It is extremely difficult to find the logic in unrelenting spending cuts without increasing revenue. There will be no jobs created with spending cuts and as millions more Americans lose their jobs to Republican budget cuts, tax revenue will continue to decrease without end. Republicans understand their cuts are job-killers and as Speaker Boehner has said, so be it. Every proposal President Obama has made to get Americans working again has been met with obstruction. Last year when the president and Democrats proposed eliminating tax breaks for corporations that outsource Americans’ jobs, Republicans blocked it to protect the corporations. The president has also proposed infrastructure improvements to get the country working again but Republicans are not willing to go along. Perhaps there is logic to the Republicans’ agenda and it is simply evil to contemplate, but they are doing everything they can to hurt the economy and kill jobs to portray the Obama Administration as a failure.
Americans are being hurt by the Republicans’ agenda of unrelenting spending cuts without increased revenue, and by the time they finish there may be nothing left of the economy or the American way of life. There will still be a couple hundred extremely wealthy families, but the rest of the population will be living in abject poverty with no safety nets to preserve them. America cannot maintain its place in the world with 98% of the population living in poverty, but it appears that is the Republican plan. They will cut spending to the point that every last American asset will be spent on corporations and the wealthy, and if the past 8 months are any indication, the country is nearly at that point. Working Americans who built this country are losing their jobs, benefits, and the retirement they paid in to so the wealthy can continue getting preferential treatment. However, all good things end and when the population is destitute and living in poverty, there will be no middle class revenue to support the wealthy’s entitlements and they too will suffer from the insane Republican economic policy. It is just too bad most Americans will have starved to death before they can see the rich in distress.