Disgusted with the current state of affairs in this country? You’re not alone.
August 15, 2001 — Have you noticed the recent terminology change in the public debate? Conservative politicians are referring to the rich as “job creators?” Republicans vying for their party’s nod to run against President Obama in 2012 are using the term over and over. Why? Psychology — they are brainwashing their constituents into believing that lower marginal tax rates, special deductions and government subsidies available only to the rich and hugely profitable industries will ultimately benefit the economy and them with more employment opportunities. It’s an extension of the old “trickle-down” theory of economics.
This is not unlike the terminology change from “inheritance tax” — another straightforward, value-neutral descriptor — to the emotionally charged term, “death tax.”
Subtle word changes like this impact the public debate by purposely replacing straightforward terms with emotionally charged words that are intended to skew the dialogue in favor of a tiny minority in this economy, the rich — excuse me, “job creators”. It’s part of the class warfare that Warren Buffett recently referred to, the warfare that he said was started by his class and which they are currently winning.
Business investments, which often do come from the wealthy, do not lead economic recovery. Business investments only follow it to take advantage of improving economic conditions. Corporations and job creators are sitting on trillions of dollars rather than investing these dollars to expand production capacity. Why? Well, Republicans and the Chamber of Commerce are saying that it’s uncertainty in the marketplace, fear of how new regulations and provisions of the new health care law will affect business. Okay, that may be partly true. But what’s more true is that businesses do not expand production and services where there is no growth in demand. Instead, businesses cut pack on domestic labor and look for new customers. In the current environment, this means expanding businesses overseas, in China and India for example, where populations are becoming more affluent even as our population is becoming less so http://articles.latimes.com/2011/aug/08/business/la-fi-consumers-overseas-20110808.
Disgusted with the current state of affairs in this country, and especially the weather here in Texas lately, a good friend recently said to me that his new idea of the American Dream is to learn German and move to Bavaria.
Please feel free to post a comment whether you agree or not.