Millionaires Like Romney Pay Less than 15% in Taxes, So Why Aren’t They Creating Economic Growth?
on May 2nd, 2012 at 10:30 pmWhen you have billionaires and millionaires like Mitt Romney paying less than 15% in taxes, and when corporations like Apple have set up shell offices in places with zero state taxes, you’d think the economy would be booming– if you’re a Republican. The entire Republican economic platform consists of one sentence; taxes are too high and, if you cut them, individuals and businesses will hire more people thereby solving our unemployment woes. So why isn’t it working?
We, of course, tried that for eight years with George W. Bush. Bush’s tax cuts added trillions to the federal deficit, but did not net a single job to the economy. What it did do was make some people extremely wealthy while creating the worst economic disparity since the 1920′s. Well done.
The fact that people like Romney and corporations like Apple are already benefiting from extremely low tax rates and still are not growing the economy or hiring anybody reveals the lie for what it is. Cutting taxes for these guys does not do anything for the economy except blow up the debt. Mitt Romney wants to do more of this. Unbelievable.