Tax hikes and jobs: The whole story
October 3rd, 2011
07:44 AM ET
11 years ago

Tax hikes and jobs: The whole story

NEW YORK (CNNMoney) - Raise taxes on the rich, and you'll put the nation's "job creators" at risk.

It's a ubiquitous Republican talking point: Congress must keep the top two rates at 33% and 35% - instead of 36% and 39.6% as President Obama wants.


Filed under: Congress • President Obama • Taxes
soundoff (7 Responses)
  1. GI Joe

    If lower taxes worked, we'd be in good shape. 2001 and 2003 taxes were CUT. We were still bleeding 700,000 per MONTH at the end of 2008. They just want more profit by shipping our jobs overseas.

    They should be taxed 90% like when IKE was president. Let them live overseas if that's where their loyalty is.

    October 3, 2011 07:56 am at 7:56 am |
  2. The Elephant In The Room

    I make $350,000 per year as a corporate executive. I have the title of Vice President. I`m NOT THE RICH; I `m not a "JOB CREATOR" in the sense the GOP suggests. I have people with the title of "Director" that report to me; they are making ~ $225" per year; they are not creating jobs either.

    It isn`t going to hurt me, or them to pay 3% point more in taxes. It`s time to stop the lies.

    Now for SB Owners; they don`t hire people because they have a little extra cash in their pocket; they hire because they need additional people to meet additional demand to EARN additional PRE-TAX PROFIT that they would otherwise not get. The AfTER-TAX impacts are irrelevant for "job creation". No Dentist hires another hygenist because of lower taxes. No lawyer hires another paralegal because of a low tax rate.

    The poor in America are rising up at corporate greed. Pax the taxes.Reduce the Nation`s debt level. Restore confidence in our ability to spend. Demand will Increase and JOBS will be CREATED.

    October 3, 2011 08:15 am at 8:15 am |
  3. 1crusader

    Well, as is the case so often, the Republican rhetoric on tax hikes and jobs doesn't match up with reality.First it was, " Higher taxes on " job creators " stifles job production"; to which the logical response should be: " After 10 years of tax cuts, where are the jobs? " And even with a high corporate rate, many businesses , in reality, pay much less tax ( almost nil ) because of loopholes.Some large corporations even have evaded paying their fair share by filing as small businesses.As the article pointed out, most businesses aren't hiring because of lack of demand, not taxes.

    Secondly, there is no justification for Republicans ' insistence on giving tax cuts that cost a trillion dollars to top earners, when the deficit is so high.Common sense should dictate that we can't afford it.I think it's pretty callous of them to fight doggedly for tax cuts for the wealthy, while at the same time, proposing drastic budget cuts that are harmful to seniors, and the disadvantaged.It shows what their priorities are, and they are certainly not with the average American.

    October 3, 2011 08:31 am at 8:31 am |
  4. ST

    These so-called "job creators" should understand that its time to fasten belts. Further more its not only tax hikes & jobs; it is tax hikes, jobs and paying the debts. The country is still in huge debts. There is no choice on what percentage they desire to pay. If the economy was doing well, the congress could be at liberty to even put the tax lower than it is now. But this is not the case!

    October 3, 2011 08:52 am at 8:52 am |
  5. VC

    All is true and well written in the above comments. They say they love America, well prove it by doing the right thing and stop being greedy and complaining. Help the people by giving graciously with joy. When you see that people are also prospering, it is well worth the sacrifice.

    October 3, 2011 09:02 am at 9:02 am |
  6. Name king

    All these trillions corporations have on the sidelines while American go hungry is treasonous. The more these fat cats get the more they get greedy, they don't give a hoot that the middle class is dwindling causing no one left to afford housing, transportations, refrigerations, furnitures, etc. What will these industries do when the middle class is all gone, depend on the poor to support their industries or demand on the 2 percent rich who dent even buy American goods and have their houses for 40 years. We need to tax these folks and get some of the money circulating through consumers, small businesses owners and eventually it will get back to the big corporations. Wh

    October 3, 2011 09:10 am at 9:10 am |
  7. FM

    Am asking myself why we are even discussing this. The people who need to understand even beyond their normal understandings are law makers. Success or failure of this country is on their hands. They need to think deeply on behalf of those who sent them to Washington to represent them and come up with something concrete and beneficial to the country.

    October 3, 2011 09:18 am at 9:18 am |