by Deb Cupples | President Bush and many Republican politicians tried to sell corporate tax cuts to the public by illogically equating tax cuts with job creation (i.e., jobs boost consumer spending and spur economic growth).
My take: tax cuts can free up extra money that companies could use to create jobs, but if the tax-cut legislation doesn't require job creation, then companies are free to take the tax cuts yet not create jobs.
Despite ex-President Bush's corporate tax cuts, many U.S. companies used the money they saved on taxes to pay their execs' better -- and saved even more money by shipping jobs overseas.
Dante Atkins at Calitics comes at the Tax Cut myth from an angle I hadn't thought of:
"Sure, it sounds ridiculous. But with the Republicans dedicating themselves to their religion of anti-tax zealotry, it's about time to find out how far they would be willing to take it. Will there ever be a tax cut they wouldn't support, or a tax increase they would support?" (Calitics)
True, hyper-corporate-friendly Republicans likely won't find a tax cut they oppose -- largely because many were sent to Congress specifically to help ensure that certain big corporations and wealthy individuals pay the least in taxes (and otherwise maintain or increase their wealth).
The reason, I think, that said Republicans treat tax cuts like a religious tenet is that they can't sell to the public their real reasons for chanting about tax cuts without coming off as mere corrupt politicians.
It's better for the political image to be viewed as a sincere but irrational zealot than a blatantly deceptive crook.
Memeorandum has commentary.
Other Buck Naked Politics Posts
* Save Jobs by Cutting Executive Pay
* Record Job Losses, Yet Republicans Want Tax Cuts for Wealthy?
* Richest Got Richer Under Bush and Paid Lower Tax Rates
* Obama's Executive Pay Cuts Don't Address Root Problems
* GAO: Bailed-out Companies have Offshore Tax Havens
* Are Bailout Funds Being Misused?
* Cleaning up Political & Corporate Culture Could Help Economy
I love this post Deb! Why no comments, they can't face the truth!
Posted by: sue | February 17, 2009 at 01:25 PM
Thanks, Sue.
I'm not sure why so many of my posts don't get many comments.
Maybe they're not controversial enough. :)
Posted by: Deb | February 17, 2009 at 08:41 PM
I just found these political blogs last week and I'm addicted, but love the few liberal ones the most, of course! You do a great job, keep it up!
Posted by: sue | February 18, 2009 at 06:14 PM
Thanks, Sue!
Posted by: Deb | February 20, 2009 at 01:57 AM