Many Republicans insist tax cuts create jobs. But we've had those Bush tax cuts since 2001 and 2003. Where are those jobs?
It is true U.S. companies are creating jobs, in China, Mexico and in other low wage nations.* While extending those tax cuts, according to projections from the non-partisan Congressional Research Service show a 10 year revenue loss beyond 2010 of $2.9 trillion, with an additional $606 billion in interest charges, for a total of $3.5 trillion. And that's assuming interest charges don't skyrocket, which could happen as the U.S. sinks deeper into debt and investors get nervous. These are bills someone must pay!
My purpose is not to attack those who support huge tax breaks to create jobs but to encourage them to look at the results and recognize that after all these years, they don't bring jobs to America. Meanwhile, the American government is going broke.
Dick
*To learn more, please see "Despite Violence, U.S. firms Expand in Mexico." http://www.nytimes.com/2011/07/11/world/americas/11matamoros.html?_r=1&nl=todaysheadlines&emc=tha2
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