The Millennial Story of the "Job Creators and tax cuts."

This election cycle, much is being written and verbalized in the media about tax breaks for the wealthy and job creation. The political pundits love to go back and forth over tax breaks for the wealthy - firing up supporters hugging each side of the issue. Beginning in 2001, with the "Economic Growth and Tax Relief Reconciliation Act of 2001" and then amplified with the "Jobs and Growth Tax Relief Reconciliation Act of 2003", then-president George W. Bush lowered existing taxes for all Americans resulting in a real, yet menial yearly savings for most Americans, but a healthy cut for the wealthiest Americans. The Bush tax cuts had a provision built-in that would have them expire in 2010. However, in 2010, bowing to political pressure mostly from the right, but certainly by those in his own party, president Barack Obama signed a two-year extension called the "Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010." This bill extended the life of the "W" tax cuts for two years, but more importantly it began to stand as a precedent for a concept that was then and is today, being loudly touted by the political right-wing in Washington. A political ideology that states, "tax cuts are needed for the Job Creators (wealthy) so that they will create jobs." This is where the meat of my story really begins. So let's examine that assertion for a minute. The idea is that by ensuring the wealthiest Americans have significant tax shelters, they will in turn, use that money to create businesses to employ Americans, thereby helping to restore the economy. But the obvious elephant(no right-wing pun intended), in the room is that for the past eleven years, the wealthiest Americans have been receiving a reduction in taxes, allowing them to keep more of their capital for themselves and have yeilded a miserable record of creating jobs. In fact, during the recession beginning in 2008, they have done even less to create jobs. And that's actually somewhat understandable. When you look at it logically - it's a recession - bordering on a depression. Everyone has become more conservative with their spending whether they like it or not. But that's not the political take on it. The Republican Party is trying to sell the continunace of these cuts for at least another couple years and in reality - indefinitely. They are basing this sell on the idea that wealthy Americans create jobs for more Americans. But is that really true? Paris Hilton for example is wealthy beyond her wildest dreams but she pretty-much uses her money to whore around. Still many other wealthy Americans head corporations who have repeatedly outsorced jobs overseas and moved manufacturing plants to various third-world shitholes. And then there are the investment firms. No viable products whatsoever - just Americans making money hand-over-fist by buying and selling American interests and American jobs. The truth of the matter is that the wealthiest 1% - hell, even the wealthiest 20% aren't the primary job creators in the United States. The job creators are small business owners. Small businesses are the innovators - the wealth of new ideas that turn into game-changers globally. And by-and-large, small business owners are not considered by any means to be wealthy. They are you and I. The rank and file ... if I must use a cliche. The voters who continually allow ourselves to be duped by political agendas. The truth about what President Obama wants to do regarding the Bush tax cuts and in fact, his own extension of them, is to simply let them expire. This is NOT a RAISE in taxes for anyone - including the wealthy. It is simply restoring taxes to what they were before the Bush cuts. A necessary tool to help fix a runaway economy - that was partly due to the Bush tax cuts in the first place. Add to that wars on two fronts - one of which was completely unneccesary and the other which has been dragged-out far longer than it should have at great cost to our people and our economy. In exchange for these cuts, Obama has repeatedly said he would work with small business owners to encourage ACTUAL job creation. Meanwhile, every American pays a fair share in taxes and no longer would millionaires and billionaires pay lower tax rates than, for example, retail workers. And finally here's an interesting perspective in all this. Earlier in the 20th Century, when tax rates on the wealthy were sky-high, they managed to create jobs a plenty. Take a guess why. The reason was actually really simple. By paying such high tax rates for being wealthy, they were able to find great tax shelters in other ways. One of those primary ways was by ... BINGO! ... creating jobs and expanding business. So ... is it POSSIBLE that we actually have it all backwards on this issue? Just sayin ...