GOP Once More Cutting Taxes to “Make Jobs”
Remember all of those jobs created in the boom years of George W. Bush, or more recently when the Bush tax cuts for millionaires were renewed?
Oh, you’re right. The economy still struggled. But the GOP has a plan for that.
More tax cuts.
This time, their “jobs” agenda is focused on cutting corporate taxes even further, continuing to reward companies that operate overseas instead of in the U.S., and cut regulation on businesses even further, because taking away government oversight has worked so well in the energy, banking and food sectors.
Key components of the new plan include:
• Increase American competitiveness to spur investment and create more American jobs by streamlining the tax code and lowering the tax rate for businesses and individuals including small business owners to no more than 25%.
• Reform the tax code to allow American businesses to bring back their overseas profits without having to pay a tax penalty so they can invest in our economy
• Remove barriers to building a first class workforce so that the United States can compete in the global marketplace and lead the way in technological development and growth.
• Maximize Domestic Energy Production to Ensure an Energy Policy for the 21st Century:
• Promote lower energy prices through increased domestic production.
• Encourage all forms of energy production.
• Build upon the House Republicans’ Budget by enacting significant spending cuts.
Of course, of all of these, my personal favorite is “remove barriers to building a first class workforce” for competition in the global marketplace. After all, that translates directly to “eliminate minimum wage, paid benefits and other worker protections so that businesses can pay much less for labor like other countries do.”
Democrats called the proposal a rehash of all their old, worn-out, failed ideas, and an attempt to distract the voters from their drastic plans to end Medicare and other social safety net programs. Minority Leader Nancy Pelosi said, “It’s warmed-over stew. These are the same policies in the Bush administration that did not create jobs, that increased the deficit [and] did not strengthen the middle class. You have to invest in growth [to have] job creation.”
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