Today begins a series intended to de-bunk the many Teapublican lies that will be repeated over the coming election season. Primary amongst them is this pants-on-fire whopper: Cutting taxes creates jobs.
This whopper has been repeated so often by so many that voters have come to believe it’s true. Yet when you examine the evidence, you find that it defies belief. For example, if cutting taxes created jobs, then why was there negative job creation during the Bush administration despite the vaunted Bush tax cuts? (And that was even before the economy was driven off a cliff during the last few months of 2008.)
If cutting taxes created jobs, why did the economy flourish under the Clinton administration despite higher taxes?
And if cutting taxes creates jobs, why is our unemployment now so high despite the fact that US citizens are paying the lowest share of their income for taxes all taxes since 1958?
Truth is, the only thing cutting taxes on corporations and the rich does for our economy is to increase wealth for those who need it least.