kemmer wrote:
Well, to big business and the wealthy anyway.
Meanwhile, these same businesses are also investing in expansion, hiring more people as a result, and the same year write-offs on new equipment, vehicles, etc creates jobs as well.
Unemployment numbers haven't been decreasing by magic. Bonuses to existing employees, pay increases, all are real.
The malarkey about the tax cuts being for the rich are otherwise BS. The 10k cap on deducting city and state taxes from federal returns, for example -- middle class and below don't pay anywhere near that amount in local income tax. On top of that, the standard deduction is doubled. Again, that only benefits middle class and below.
Cutting corporate tax from the highest on the planet to 21% better enabled U.S. firms to compete globally and sh**canning Obama's overbearing regulations allowed them to operate here instead of outsourcing jobs.
Capitalism is about greed, which is good when it means that jobs are created to accommodate it.
Many of these jobs go to people who can least afford not to be working because they don't earn enough to save much and are mired in the usual: Mortgage, sewage and water, homeowner's insurance, property taxes, car payments, car insurance, utilities, health insurance (when not an employee benefit), kids' education, family entertainment, food and clothing, etc.
Job openings now exceed applicants, which invariably means that wages will increase. In the 1960s and 70s we called it an 'employees market.'
As far as those buybacks are concerned, so what? Anything that eventually puts more money into the company's hands only provides more investment capital, and that means more job creation.
More tax revenue for the government to operate and lower income tax at the same time.
What I'm seeing is our capitalist republic's economy beginning to work like it's supposed to. More able bodied people working for a living rather than sponging off the taxpayer.
More money in people's pockets, therefore more money being spent in the private sector and that in turn creates jobs.
Very simple concept.