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political question about republicans?
is there any evidence for republican claims that reducing taxes will create more jobs? i have heard is that the job creators having more money will allow them to hire more people. thats more of a hypothesis... is there any data?
8 Answers
- honestamericanLv 79 years agoFavorite Answer
No they claim the Bush tax cuts of 2001 created jobs but like all republican claims it is twisting the facts!
The fact is Bush ordered Freddie Mac and Fannie Mae(Federal mortgage brokers) to make $600 billion available to minorities.Which sounds like a noble effort for minorities.
However at the same time he allowed regulations on the mortgage industry to be relaxed.One of the regulations he got rid of was requiring mortgage companies to verify income to approve or deny loans.So all people had to do was show up with ID and make a statement of income.The mortgage companies used the statement of income to determine whether or not to approve the loan without verifying the income of the applicants.Bush claimed they would verify the income on the ones they suspected of lying about their income!
If you figure the medium home price at the time was $100,000 dollars means that there were suddenly 6,000,000 new home buyers in the market.Which caused the prices of houses to sky rocket.
Now those sellers needed new homes to move into.Which created a boom in the home building industry.
So when all these people who were approved these loans started defaulting it started the recession conservatives blame on the democrats taking over Congress!
- ?Lv 69 years ago
Well some Pennsylvania teachers are working for free. The tax cuts have been in place since 2001,
so why can't we afford to pay teachers? Firemen?? Police men???
Because that money flows straight to the top and just stays there. A multimillionaire might have to pay an extra $100K. So what? They are doing extremely well in this economy, when does the trickling start? I've had enough of their crap. You win big you pay big. For the use of our country and poor to create your wealth. Give back 30%? Too much? Theirs the door.
- JayLv 79 years ago
"...the soundest way to raise the revenues in the long run is to cut the rates now. The experience of a number of European countries and Japan have borne this out. This country’s own experience with tax reduction in 1954 has borne this out. And the reason is that only full employment can balance the budget, and tax reduction can pave the way to that employment. The purpose of cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus.”
– John F. Kennedy, Nov. 20, 1962
- picadorLv 79 years ago
You are a human being, and therefor an expert in human behaviour. Imagine yourself as a person with a marketable idea. You borrow to fund the enterprise, including staff. You do well. You make as much money as you hoped you would. Suddenly, significantly more of your profits are snatched away from you and your family to benefit strangers' families. Are you more or less likely to try to expand your business and hire more people, or close up shop and retire to a tropical island?
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- Anonymous9 years ago
It worked when Reagan brought us out of the worst depression since the '30s and created the biggest peacetime expansion in history.
- Anonymous9 years ago
the bush tax cuts are still in place