Tax cuts create jobs! -500 of them

[Worldtraveller]

You want to create jobs?

One good way would be to raise the minimum wage.

What are you smoking??

Increasing the minimum wage cuts jobs, it doesn't increase them!

It increases wages, at least until you reach the point where job loss exceeds the wage increases.

What factors would you consider 'paying for the job loss'?

For example Min wage increase --> Increase in Gross GDP, gross fed income tax, or some other factor. Ten to one if you googled whatever correlation you're thinking, it will be better within a fairly short period of time. Trickle doesn't just not work quickly, it doesn't work, period. Raising the minimum wage, or cutting taxes on the lower/middle income brackets will have a much quicker (and more longterm) impact on the economy.

So what would you like to use as the measuring stick of 'success' in this scenario?

 

[hurtinbuckaroo]

To start with, explain to me how it took 300 workers 20 years to build that yacht.

Well, it was not literally 300 of course, it was 3000 and 2 years.
You need to count job*years. "Job" is not a meaningful measure without mentioning how much money that job produce for workers.
In this particular case we have $300mil most of which were paid to workers of some kind.

Ellison paid a bit over $200 million. When Geffen bought it for $300 million, the workers who built it got $0. And no jobs were created.

It also might surprise you to know that when some rich SOB buys a Van Gogh for $200 million, Van Gogh gets $0.

 

[Hermit]

Tax cuts increase investment, thus the economy and thus in the long run jobs. There's no fast feedback, though.

Not wrong. The good people of Kansas have been waitin. And waiting. And waiting...

Since Kansas enacted tax and spending cuts in 2012 and 2013, Brownback and his allies have argued that this fiscal potion would generate an explosion of economic growth. It didn’t. Overall growth and job creation in Kansas underperformed both the national economy and neighboring states. From January, 2014 (after both tax cuts passed) to April, 2017, Kansas gained only 28,000 net new non-farm jobs. By contrast, Nebraska, an economically similar state with a much smaller labor force, saw a net increase of 35,000 jobs. (Link)

Tax cuts creating jobs is not the same thing as tax cuts creating so many jobs as to pay for the tax cuts.

Did you miss the bit where Brownback and his allies have argued that this fiscal potion would generate an explosion of economic growth? That's what they did. In July 2012 Brownback wrote:

Our new pro-growth tax policy will be like a shot of adrenaline into the heart of the Kansas economy. It will pave the way to the creation of tens of thousands of new jobs, bring tens of thousands of people to Kansas

It's the same old story. Conservatives invariably promise great benefits for the workers from tax cuts and trickle downs. Invariably, those benefits fail to eventuate. Invariably, the conservatives find reasons other than that tax cuts and trickle downs simply don't work. It's always someone or something else's fault. And the plebs swallow this shit again and again, or they go "At least our dear leaders are dead set against abortion, praise the Lard and pass the butter. JEREMY! Don't turn that heater on. We still haven't figured out how to pay the last electricity bill, and dad's hours have been cut again".

 

[barbos]

To start with, explain to me how it took 300 workers 20 years to build that yacht.

Well, it was not literally 300 of course, it was 3000 and 2 years.
You need to count job*years. "Job" is not a meaningful measure without mentioning how much money that job produce for workers.
In this particular case we have $300mil most of which were paid to workers of some kind.

Ellison paid a bit over $200 million. When Geffen bought it for $300 million, the workers who built it got $0. And no jobs were created.

Yes, inflation in luxury market. And secondary market.

It also might surprise you to know that when some rich SOB buys a Van Gogh for $200 million, Van Gogh gets $0.

Big Van Gogh fan? are you?

 

[dismal]

No matter how you cut it, cutting taxes to create jobs is a really iffy prospect....usually backfiring.

Now, you want to guarantee job creation, then tax the rich to create income tranfers to the unrich.
Because the unrich are probably living at the margin, they will spend it on 'necessities', stimulating the economy and creating jobs.
Not only that, those jobs will be created in portions of the economy where there is real need, which has heretofore been stymied by lack of disposable income.

What the idle rich are telling you about tax cuts creating job is absolute bullshit. They don't need to spend it, so they ship it in to offshore accounts where it does nothing.
Zero. Zip.
So, a thousand people being even more ludicrously rich than before is not creating jobs....it is nothing but fiscal masturbation.

Yeah, I was watching some story on Venezuela running out of food and medical supplies the other day and it occurred to me "if only they could get their sick people to demand more medical supplies and their starving people to demand more food their economy would be great." Demand is the thing. Incentive to produce be damned.

 

[coloradoatheist]

No matter how you cut it, cutting taxes to create jobs is a really iffy prospect....usually backfiring.

Now, you want to guarantee job creation, then tax the rich to create income tranfers to the unrich.
Because the unrich are probably living at the margin, they will spend it on 'necessities', stimulating the economy and creating jobs.
Not only that, those jobs will be created in portions of the economy where there is real need, which has heretofore been stymied by lack of disposable income.

What the idle rich are telling you about tax cuts creating job is absolute bullshit. They don't need to spend it, so they ship it in to offshore accounts where it does nothing.
Zero. Zip.
So, a thousand people being even more ludicrously rich than before is not creating jobs....it is nothing but fiscal masturbation.

Yeah, I was watching some story on Venezuela running out of food and medical supplies the other day and it occurred to me "if only they could get their sick people to demand more medical supplies and their starving people to demand more food their economy would be great." Demand is the thing. Incentive to produce be damned.

Not only that, prior to 1800 every economy was demand driven so maybe we should go back to that system.

 

[Elixir]

To start with, explain to me how it took 300 workers 20 years to build that yacht.

The Russian economy?
Workers keep dying of starvation, ya gotta train new ones... the next thing you know you've gone through 300 workers over 20 years.

 

[Alcoholic Actuary]

To start with, explain to me how it took 300 workers 20 years to build that yacht.

Well, it was not literally 300 of course, it was 3000 and 2 years.
You need to count job*years. "Job" is not a meaningful measure without mentioning how much money that job produce for workers.
In this particular case we have $300mil most of which were paid to workers of some kind.

Ellison paid a bit over $200 million. When Geffen bought it for $300 million, the workers who built it got $0. And no jobs were created.

Is this true? A boat actually appreciated in value? (I take your point, but if it actually happened it's an example of gazillionaires flipping everyone the bird).

aa

 

[bilby]

No matter how you cut it, cutting taxes to create jobs is a really iffy prospect....usually backfiring.

Now, you want to guarantee job creation, then tax the rich to create income tranfers to the unrich.
Because the unrich are probably living at the margin, they will spend it on 'necessities', stimulating the economy and creating jobs.
Not only that, those jobs will be created in portions of the economy where there is real need, which has heretofore been stymied by lack of disposable income.

What the idle rich are telling you about tax cuts creating job is absolute bullshit. They don't need to spend it, so they ship it in to offshore accounts where it does nothing.
Zero. Zip.
So, a thousand people being even more ludicrously rich than before is not creating jobs....it is nothing but fiscal masturbation.

Yeah, I was watching some story on Venezuela running out of food and medical supplies the other day and it occurred to me "if only they could get their sick people to demand more medical supplies and their starving people to demand more food their economy would be great." Demand is the thing. Incentive to produce be damned.

You are so right. I was watching the news the other day, and they were talking about people dying from heatstroke in Penrith, where the temperature reached over 117F on Sunday. I thought "Well, as long as they are not freezing to death in Minnesota, they really shouldn't complain..."