7 of Congress's Ten Richest are Democrats

[J.T]

http://www.rollcall.com/50richest/the-50-richest-members-of-congress-112th.html

Maybe voters should rethink who represents the working class?

[SassyLady]

http://www.rollcall.com/50richest/the-50-richest-members-of-congress-112th.html

Maybe voters should rethink who represents the working class?

How many of those actually earned it...or did they marry it or inherit it?

[darin]

I like rich people. They provide jobs. :)

[fj1200]

I like rich people. They provide jobs. :)

Silly boy, if we taxed them so they were LESS rich you would be MORE equal. See how that works?

[J.T]

I like rich people. They provide jobs. :)

Apple, Target, or even a local small business like Joe's Plumbing — they will hire people if they need them, not because they have more money to do so. And why do they hire people anyway? To make money. If the goal is making money, it can be done through expansion and employment, or it can be done through cutbacks and layoffs. The latter is king these days.
...
HSBC posted a 35% profit increase, around $11.5 billion, for the first half of the year. Merck's profits are solid and growing. And yet, HSBC has announced that 25,000 jobs will be eliminated between now and 2013, and Merck is laying off 13,000 people. Lockheed Martin will be trimming thousands of jobs, too.
http://www.wisebread.com/actually-the-rich-don-t-create-jobs-demand-does





We're all well-aware of the "Debbie Downer" news: Our unemployment rate is at 9.1 percent; the stock market has seen better days; gas and food prices are on the rise; consumers are barely spending.

But you can't tell that by the balance sheets of some U.S. companies. According to a July 27 Moody's (http://www.chicagotribune.com/topic/economy-business-finance/moodys-corporation-ORCRP010209.topic) Investors Service report, U.S. nonfinancial companies held $1.2 trillion in corporate cash holdings at the end of 2010, up 11 percent from a year earlier. But instead of using that money to hire, the companies are stashing the cash in this uneasy economy. Some are even cutting workers. In one high-profile case, pharmaceutical giant Merck (http://www.chicagotribune.com/topic/economy-business-finance/merck-%26-company-incorporated-ORCRP009787.topic) & Co. announced the elimination of 13,000 jobs after posting second-quarter net income of $2.02 billion at the end of July.
http://www.chicagotribune.com/business/ct-biz-0807-outside-opinion-jobs-20110808,0,595599.story



Want more jobs? Create more long-term demand by closing the wealth gap and putting more money in the hands of the middle class, who will then turn around and spend that money to purchase goods and services, creating demand and the need to hire more employees- thus creating the jobs that enable others to earn earn wealth they will in turn spend...

[logroller]

How many of those actually earned it...or did they marry it or inherit it?

Does having their palms greased count as "earning it"?:laugh2:

[SassyLady]

Does having their palms greased count as "earning it"?:laugh2:

Only to a politician.

[fj1200]

To make money. If the goal is making money, it can be done through expansion and employment, or it can be done through cutbacks and layoffs. The latter is king these days.
[/URL][URL="http://www.wisebread.com/actually-the-rich-don-t-create-jobs-demand-does"]http://www.wisebread.com/actually-th...bs-demand-does (http://www.chicagotribune.com/business/ct-biz-0807-outside-opinion-jobs-20110808,0,595599.story)


Want more jobs? Create more long-term demand by closing the wealth gap and putting more money in the hands of the middle class, who will then turn around and spend that money to purchase goods and services, creating demand and the need to hire more employees- thus creating the jobs that enable others to earn earn wealth they will in turn spend...

Interesting graph but you're not going to create that demand by just hiking the taxes on the rich to give to someone else, a low gini coefficient is not a magic bullet to economic growth. It's just a naive extension of your belief, which you haven't defended against criticism yet, that the 50's were a growth boom solely because of high marginal tax rates. Creating demand is done by encouraging those businesses to make investments by creating certainty so businesses and individuals can make investments based on that. We have no certainty right now which is why we have no job growth right now.