Last night the Senate voted down Obama's $35 billion jobs bill to hire teachers, policeman, firefighters and other first responders. The bill was to be paid for by taxing those earning over a million dollars and extra .5% , or $5,000 on a million dollars. The vote was 50-50 with all republicans voting it down. One of the reasons stated for not passing it was that it would place an unfair tax hike on about 300,000 "job creators". Every time there is an inkling of taking money from the wealthy, there is a knee jerk reaction "But you will be hurting the job creators".
First off, jobs are created by demand for goods. Jobs are created by the 99% of the people not making above one million dollars that are pumping most of their paycheck into the economy. Taxing those making over 1 million dollars is not going to cost us any jobs. The richest will probably spend the same amount even after you have reduced their income by .5 percent. And I highly doubt that this amount would affect any decisions on whether or not to put money into a business. Businesses have enormous amounts of money that they are holding onto right now, and they will still not hire people. Adding a small percentage of personal income tax on so called "job creators" will not change that.
As far as I'm concerned, the "job creator" lingo is just code for "Don't dare touch the rich".
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