Mythbusters: Do the Rich Create Jobs?

economics-trickle-downSlate dives into America’s biggest modern-day myth: That the rich are “job creators.”

Slate busts that myth pretty quickly. As it turns out, big corporations and rich venture capitalists are not creating jobs. But a healthy middle class will.

From Slate:

It’s like saying that a seed creates a tree. The seed does not create the tree. The seed starts the tree. But what actually grows and sustains the tree is the combination of the DNA in the seed and the soil, sunshine, water, atmosphere, nutrients, and other factors that nurture it. Plant a seed in an inhospitable environment, like a desert or Mars, and the seed won’t create anything. It will die.

Without a healthy economy — without a strong middle class — it doesn’t matter how many “seeds” investors plant.

Why is this misconception so significant? Because this very wrong, very misled idea that the rich are job creators is what has led to our astounding, sky rocketing income inequality — income inequality that is at its worst since the great Depression. “Trickle down” economics do not work — yet it’s what our nation’s tax policy is built on.

7 Responses to “Mythbusters: Do the Rich Create Jobs?”

  1. Lorna

    Time to base our tax structure on economic reality and FACTS. We need to rebuild the middle class that keeps our economy growing. We need to do this before it is too late to save this great nation.

  2. versicherung kredit

    Sounded like more kick the can down the road double talk by our legal system. Sheriff Arpaio's July 17th Press Conference is next up. If he does come up with verifiable earth shattering info the ballgame very likely would be over for Obama as far as being reelected if not the issue could begin to fade. I guess we all have to stay tuned for the next episode in this intriguing real life drama.

  3. auto insurance

    Hoewel ik er van overtuigd ben dat met jou alles in orde gaat komen (vraag me niet waarom maar zo voel ik het), is het mij duidelijk geworden dat die "lachende, zwanzende" gesprekken achteraf heel erg belangrijk zijn en dus zeker de moeite waard om eens op voorhand te houden.

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