Oh no, I understand exactly what you're saying, Dartz. It's like what's been going on in the State governments lately: a lot of them have been cutting the State level Earned Income Credit. What it does is that it gives a tax credit to low-income people that are productively employed. They argue that this saves tax revenue, some tens of millions of US Dollars. At the same time, however, they go and give tax breaks to big businesses and upper-class citizens, foregoing billions in tax revenue. Their excuse? It'll stifle the creation of jobs.
News Flash: there hasn't been much more than a token of new job creation lately. We've been on the Bush Tax Cuts for more than six years - that's long enough to see a change, even with the recession taken into account.
Want hard figures? Okay, this is from the Bureau of Labor Statistic's website.
Labor Force Statistics from the Current Population Survey
Series Id: LNS12000000
Seasonally Adjusted
Series title: (Seas) Employment Level
Labor force status: Employed
Type of data: Number in thousands
Age: 16 years and over
![[Image: LNS12000000_156251_1302664376441.gif]](http://data.bls.gov/generated_files/graphics/LNS12000000_156251_1302664376441.gif)
Okay... This time span is from the start of the Clinton Administration to the end of the Bush Jr. Administration. From this we can see that there's no real change in the growth in American jobs between the two administrations... though things do kinda stall out at around 2001. This is important in that despite difference in how the two administrations ran things, there was still substantial job growth. Given how long Bush's tax cuts have been in effect, I don't think it does anything to help the job market.
Labor Force Statistics from the Current Population Survey
Series Id: LNS12000000
Seasonally Adjusted
Series title: (Seas) Employment Level
Labor force status: Employed
Type of data: Number in thousands
Age: 16 years and over
![[Image: LNS12000000_156405_1302664456844.gif]](http://data.bls.gov/generated_files/graphics/LNS12000000_156405_1302664456844.gif)
This graph shows the time from Bush Jr's second term in office to midway Obama's first term. From these figures we can see that in the USA there was a peak point at around 2007... and then in 2008 we start hemorrhaging jobs - about 7.5 million jobs altogether. This was when the recession started hitting the hardest - we even lost jobs during the Christmas Holidays. By Obama's first year in office, the Administration managed to stop the hemorrhaging. Things have been improving somewhat, but not by much. At least, nowhere near the previous rate of growth seen during the previous administration.
That said, again, I'm pretty sure the tax breaks for big business and the upper class does squat.
Thoughts?
News Flash: there hasn't been much more than a token of new job creation lately. We've been on the Bush Tax Cuts for more than six years - that's long enough to see a change, even with the recession taken into account.
Want hard figures? Okay, this is from the Bureau of Labor Statistic's website.
Labor Force Statistics from the Current Population Survey
Series Id: LNS12000000
Seasonally Adjusted
Series title: (Seas) Employment Level
Labor force status: Employed
Type of data: Number in thousands
Age: 16 years and over
Okay... This time span is from the start of the Clinton Administration to the end of the Bush Jr. Administration. From this we can see that there's no real change in the growth in American jobs between the two administrations... though things do kinda stall out at around 2001. This is important in that despite difference in how the two administrations ran things, there was still substantial job growth. Given how long Bush's tax cuts have been in effect, I don't think it does anything to help the job market.
Labor Force Statistics from the Current Population Survey
Series Id: LNS12000000
Seasonally Adjusted
Series title: (Seas) Employment Level
Labor force status: Employed
Type of data: Number in thousands
Age: 16 years and over
This graph shows the time from Bush Jr's second term in office to midway Obama's first term. From these figures we can see that in the USA there was a peak point at around 2007... and then in 2008 we start hemorrhaging jobs - about 7.5 million jobs altogether. This was when the recession started hitting the hardest - we even lost jobs during the Christmas Holidays. By Obama's first year in office, the Administration managed to stop the hemorrhaging. Things have been improving somewhat, but not by much. At least, nowhere near the previous rate of growth seen during the previous administration.
That said, again, I'm pretty sure the tax breaks for big business and the upper class does squat.
Thoughts?