Quote:
Originally Posted by Riot
Why, if that worked, did we lose thousands of jobs under Bush? The complete opposite happened.
Bush did that in 2001 and 2003, gave massive tax cuts to business, and that oversaw the greatest, fastest job loss of thousands of jobs, and a decline into the greatest recession since the Great Depression. Why didn't that work?
Why did Reagan have to raise taxes multiple times to help counter his rising unemployment?
History shows giving tax cuts does not create private sector jobs.
|
How do we know that we wouldn't have lost thousands more if we hadn't cut the taxes?
The fact is that businesses need to remain profitable to remain in business. If you cut an expense (like taxes), then the business can continue. Whether the business does relocate is still up to the owners or management, but without profitability, there is no shot at keeping a business here. They will either move or close up.
Tax hikes certainly don't help. They accelerate the demise of a profitability-challenged business.