A Dose of Reality
There is no question: we have lost much with the currently soaring unemployment rates. The math is out there for everyone to see on unemployment, underemployment, poverty, and I suspect most of us feel it in our lives. What we are not seeing is the truth coming out in the media.
President Obama has put forth the American Jobs Act which is an attempt to create jobs by increasing demand for goods by giving people more money, and to work on the infrastructure in America by directly spending money 0n needed public investments.
The Republican plan is to cut taxes on what they call "Job Creators", namely the super-wealthy and multi-national corporations. By giving them more money, they hope to allow those companies to spend that money on employees rather than taxes.
The simple fact here is the if the Republican Economic theory was correct, the current economy - where the taxes are about the lowest they have ever been - would have record employment rather than record unemployment.
Red line is unemployment, Blue Line is Top Marginal Tax Rate (*10)
Now, I don't know much about statistics, but someone who does has told me these are significantly inversely correlated. Now, that isn't a causative argument, but it does show that when the top marginal tax rates are higher, unemployment is lower. Ergo, cutting the tax rate is not likely to reduce unemployment.
Let me say this again: Cutting taxes will not create jobs. This is all.