Originally Posted by Rohirrim
Greenspan is the one who sold the country on lowering capital gains rates. Now it's become part of Republican theology. Cantor, Gingrich and Huntsman believe the tax on capital gains should be zero. Why? Because those at the top of the economic pyramid, you know, the ones who are raking in the capital gains, are the "job creators."
Well, they've gotten the biggest tax breaks in history over the last thirty years and are rolling in wealth so it's time for the American people to ask, "Where are the jobs?"
You know what jobs have been created because of the massive capital gains cuts over the last thirty years? Jobs in the financial industry for those who specialize in taking other types of income and turning it into capital gains.
It's the core stupidity of "supply side" economics. Jobs are not created by people that have capital. Jobs are created by demand
. People with capital aren't going to just create jobs for the hell of it. They want an ROI.
No Demand = No ROI.