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Lowering taxes and ending regulation will create jobs right?
the rhetoric that companies are scared to hire because of "possible" tax raises on the top 2%. And are unsure of new regulations by the Obama admin.
First personal income tax levels do not effect taxes paid by the company. They may effect the company management but never the company itself. There are numerous write-offs available to companies that lower their taxes even more. My parents own a small business that grosses over $250k per year. Last year their total tax bill including Federal, State and Local taxes was less than $3,000.
Companies are not hiring because there is no need to hire. Most companies have reduced their workforce or kept it the same. While at the same time keeping output the same and in most cases the output has risen.
Justin - I guess you just don't get it, the bush tax cuts where on personal income. Not business income. Although if I'm a hedge fund manager earning $20 million per year my work force is one so those taxes raising would effect me.
6 Answers
- 1 decade agoFavorite Answer
No lower the taxes and jesus will ride down to america on a dinosaur and hand everyone a job.
- ?Lv 61 decade ago
Well see, here's the thing, if you cut taxes, people will have more money to spend. They will always spend that money, and companies will always increase production and hire more people to do so, and never use the money for purposes that don't involve creating jobs. Therefore, we have to not only cut taxes for all the people who will actually notice the difference and spend more, but also for the richest 2%, because they will invariably spend more too. Even though they already had more money than they knew what to do with.
- ThurstonLv 41 decade ago
I guess you still dont understand. Why not ask an expert?
“Job and income growth can only come from a growing, successful private sector. Of course, government can create innumerable public sector jobs, but in doing so, it supplants the private sector and ultimately depresses the prosperity of its citizens. A pro-job, pro-prosperity government works to create the conditions that enable businesses of all sizes to grow and thrive. These should include aligning corporate taxes with those of other developed economies, eliminating special corporate tax breaks that lobbyists have inserted over the years, and preserving the Bush tax cuts — especially for small business.” -- Mitt Romney 8/18/2010 USA Today
The private sector is where real job growth takes place, not government bureaucracies.
Unleashing the power of free markets is key to our economic prosperity.
Taxes should be lower for ALL Americans.
The death tax should be eliminated and Bush tax cuts made permanent.
Our corporate tax rate needs to be more competitive and business friendly.
The capital gains tax rate should be reduced to encourage investment.
A level-playing field for American products in foreign markets is necessary.
- 1 decade ago
Lowering taxes is not about reducing costs for companies, it's about increasing people's disposable income. The more disposable income they have, the more they will buy. When the consumption increases, companies will increase their output and thus hire more.
Source(s): Basic Economics. - How do you think about the answers? You can sign in to vote the answer.
- Anonymous1 decade ago
no, it won't.
we've seen where that gets us.
bush's presidency presided over less job creation than the stimulus by itself in 2 years.
All for the low cost of 3X what the stimulus cost.
- Anonymous1 decade ago
Yeah, because money in people's pockets never translate to money in the cash registers.
