The rich have had tax breaks for the last decade and they had them in the Reagan years and unemployment did not improve. That's because the rich have enough money and if given more, they just put it in offshore accounts like Romney did. They already have enough to buy what they want, so they don't spend more when they get more.
If you give more money to the middle class, they consume stuff. That's what creates jobs. We buy food, tvs, haircuts, computers, clothes, all kinds of things.
If we have more money, we will buy more things. That stimulates the economy. And if companies are encouraged to create all those things in the US instead of sending the jobs to China, it will create jobs in the US.
It's basic economics. The rich won't be able to grow their businesses if they have no consumers to buy the goods and services. If we have to pay thousands of dollars more in taxes per family, that's billions of dollars in less spending power.
Likewise, if we have all food stamp families getting $50 a month less for food, that's a ton of money taken out of the economy. And that's why we will head to a depression if the fiscal cliff happens.
Tax breaks for the middle class create the demand for the goods, but the goods are often made overseas. Tax breaks for the rich do create jobs, but those jobs are created overseas. What s needed are tax breaks for the middle class and tax incentives in the form of tax deductions for the rich who hire workers in this country as well tax disincentives for moving jobs overseas.
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