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Business journalist says Romney's off-base over tax plan
1 hr ago by David Mark
Is Mitt Romney wrong to define rich people as "job creators"? Business Insider Editor-in-Chief Henry Blodget thinks so.
Blodget finds fault with the GOP presidential candidate's theory that lowering taxes for wealthy Americans will create jobs because they will then use this cash to invest in other companies and create jobs.
"Rich people cannot single-handedly create sustainable jobs, even if they found and build companies that eventually employ thousands of people," Blodget writes. "What creates the jobs is a healthy economic ecosystem surrounding the company, which starts with the company's customers."
The Obama campaign and Democratic candidates nationally are already pounding home this line of attack on Romney's tax plan. Expect to hear it more heading into the Nov. 6 elections.
Via Business Insider
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Tags:Economy Mitt Romney ? Who are the real job creators - rich people or someone else? PostEnter your comment...
All : 10 Popular : 0
1 hr CanisCanemEdit
Did a poor person ever give you a job? Pay a big portion of your health insurance? The opportunity to climb up the ladder and take control?
u 1 hr Buggsy888
I've only worked a few middle class business folks,,the rest were pretty darn well off. The better off they were,,,the better they were to me.
1 hr john
...you think welfare people create jobs? nancy pelosie says so...
u 1 hr NormalFlora
They may have been in the distant past, but not in this century!
u 55 min BigPuma
The Rich people of today are nothing more than the money changers Jesus kicked out of the temple.
54 min VisionVI
If it were true giving the wealthiest tax breaks will create jobs....Then we should have an unemployment rate somewhere around 3% as Bush W. gave the top 1% the biggest tax break in decades and guess what NO JOBS.....the rich get richer and the little guy gets screwed. Obama/Biden 2012
43 min Bobolinsky
It isn't just rich people that create jobs. There are others... like the future "rich." It also depends on how rich "rich" is... Is someone who makes $1.2 million a year rich enough? Or is $5 million a year "rich"?... http://politix.topix.com/homepage/1692-should... ... Or is President Obama right when he includes households that make more than $250,000 under the label of "rich"?
u 40 min Middleclass
No, the job creators are nothing without consumers who purchase the products. Everyone must be able to prosper to make a strong economy, not just the rich.
Post Removed by Moderators
7 min socrates55
Many 'rich' people appropriate wealth rather than 'create' it. How can Arms manufacturers for instance, be said to 'create' wealth, when it is tax dollars that they are appropriating? The 'wealth' was already there - they have merely facilitated a forum for spending, then appropriating those tax dollars. In fact EVERY State funded enterprise tendered by so called 'wealth creators' is simply a way of wealth appropriation. Furthermore, who was it that bailed out 'rich' financial institutions during the Banking Crisis? It was the Taxpayer - yes, the Ordinary Joe who never benefited one bit from their mendacious methods. It is the average Joe (and Jane) who keep the factor...
4 min Amos777
Consumer + Credit + Long term policy plan from government is recipe for Movers and shakers too take risk. Thus creating jobs.
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