Infographics on the distribution of wealth in America, highlighting both the inequality and the difference between our perception of inequality and the actual numbers. The reality is often not what we think it is.
The same failed “trickle down” economic policies are not what is needed in this country…
Mitt Romney and his economic advisers have spent the week claiming that Romney’s economic plan will create 12 million jobs, as they attempt to change the subject away from a Tax Policy Center report showing that Romney’s tax plan would mean a big tax increase for middle-class families.A Center for American Progress Action Fund analysis shows that, far from creating 12 million jobs, Romney’s economic plan would kill 360,000 jobs in 2013 alone. But this discrepancy is perhaps less surprising considering that the same advisers who gave Romney his number — including economists Greg Mankiw and Glenn Hubbard, who both worked for former President George W. Bush — estimated that the Bush tax cuts would lead to massive job growth…
Does anyone actually believe the GOP cares about creating jobs at all?
Senate Democrats generally don’t expect much in the way of support for their proposals, especially when it comes to the economy, but they though their new small-business tax cut bill at least had a shot.
The proposal is straightforward enough: small business owners would get a new tax incentive to hire new workers and/or increase payroll wages, on top of a break businesses claim on capital investments. An independent firm that specializes in economic modeling concluded that the Democratic proposal could create nearly 1 million jobs.
Today, a majority of the Senate supported the measure, but the modern Senate no longer operates by majority rule. Democrats couldn’t break a Republican filibuster so the bill is dead.
Senate Republicans made good on their threat to filibuster a Democratic small-business tax cut bill today, ensuring the bill fell seven votes short of what it needed to move forward.
The Senate voted 53-44 to limit debate on the bill and move to final passage, but 60 votes were needed to overcome the filibuster. […]
Senate Majority Leader Harry Reid (D-Nev.) argued Republicans would typically support the small-business bill save for their desire to deny the president a political victory ahead of the November elections. “There is no reason for them to oppose this bill other than to hurt President Obama,” Reid said today.
Republicans said they felt the need to kill the legislation because Reid denied them the chance to water it down with a series of amendments.
And since procedural concerns are obviously more important than lowering unemployment, the GOP argument doesn’t seem to surprise anyone.
A List of the GOP’s Non-Job Creation Legislation in 2012 from Mike Stanfill:
During the 2010 mid-terms the GOP ran mainly on the platform of job creation and, as a result of such promises, the GOP gained the majority in the House of Representatives. As the new Speaker of the House, John Boehner made the welcome claim that the primary goal of the Republican Party was to increase employment in the U.S.
His exact words were: “We’re going to have a relentless focus on creating jobs.”
The following, therefore, is a chronological list of legislation by the GOP beginning 2-10-2011 that I created for my own amusement. That it has reached its current imposing length, without one anecdotal citation of new employment as a result of Republican legislation, is simply shocking. Shame on these useless hypocrites.
There are those who choose to place the blame for high unemployment on Mr. Obama’s shoulders, but keep in mind that it’s the House that enacts legislation and controls the governmental purse-strings, not the President. The Stimulus package passed by the Democrats in 2009 helped the economy but would have been more effective if the GOP hadn’t limited it to little more than a package of more useless tax breaks for the rich.
Update 6-18-2012: It’s officially clear to everyone, even the foreign press, that the GOP will do nothing to help the economy, betting that bad finanacial times will help Mitt Romney in the upcoming presidential elections. In addition, thinkprogress.com offers five ways the GOP has actively sabotaged job growth.