sandy1 said: Mel, we were at statistical full employment for 7 of the 8 Bush years. We saw large job creation. Did we spend way too much? Absolutely. Between the wars, the prescription drug plan and a number of other areas we spent big money on, it became an accident waiting to happen. Currently, companies that can stock pile money are doing it due to the scary economy. Health care has scared them to death and most will continue to tighten up due to uncertainty. These job creators won't budge due to fear of higher taxes, higher costs and excessive government meddling and regulation. Adding taxes to the few percent that pay 80+% of taxes now will further hurt growth.
Statistically? I haven't researched the numbers but I thought at least after Sept. 11th, 2001 many jobs where shed from businesses. I don't know of one industry (except maybe food service? well Homeland security and private security firms overseas) that grew, but please let me know of ones that did. As for the companies that are stockpiling money, I can believe some of it is from an uncertain economy, but if the demand for goods and services were out there, and companies could make more money selling more items, I'm dang sure they would be doing it. Health-care might play a part especially in small business, because they probably don't know how it will effect them, the big companies in my opinion know how it will effect them, heck they probably had their lobbyist in there writing the bill with the insurance companies. They have the resources to see that the health care won't affect their bottom line, just as they have resources (as in staff) to find every tax incentive for them to take advantage of. How would adding taxes hurt further growth, their is no growth now. Get some revenues into the government, put some towards debt, and some towards infrastructure. As far as the few percent that pay taxes, heck don't stop at those making over $250,000 , heck close the loop holes for more deductions, I'll stop deducting my work boots, my chapter dues, my chapter meeting cost, and other business related items I currently deduct, (if I make the percentage, some years I do some I don't) if need be, though I would hate it, maybe do a little with medical deductions, raise it to 8% instead of 7? or 9% even. So it is surgeries, and procedures that will allow you to deduct, not just prescriptions (although they can add up fast when one out of pocket is $500 a month) and regular doctors visits. Those could be some of the stuff that those of us making less could do to help out, so the rich don't have to share the whole burden and we can stop complaining about class warfare. There are many things that can be done, but no one has the guts to do it.