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Jobs created by tax cuts: Another question the governor won't answer

by: Eric B.

Thu Jul 03, 2014 at 10:00:00 AM EDT

Haw haw haw.

Three years ago, the governor was asked how many jobs the tax cut would create. He steadfastly declined to attach a number. Now in the midst of his own re-election bid, the governor was asked again about job creation visa vie the business tax cut.

Gov. Snyder:"Over a quarter of a billion private sector jobs have been created in the last three and one half years. That's a lot of progress going on in the state of Michigan."

Reporter: "Can you link that to your business tax cut?"

Gov. Snyder: "If you talk to business people they will tell you they have hired people."

I just shared a video the other day of another very wealthy man who said thatthe idea that rich people are job creators is horseshit, something that most of us already knew. Cutting taxes for businesses doesnt hold anyone back if to finance this you need to lay people off or hike taxes on working people, which is what happened.

I'll give you a very real example of this: My homestead property tax credit -- and my wages haven't been above $20,000 since I was laid off from newspapering -- was cut in half to finance the business tax cut. This year, I'm getting a refund of $10 rather than $200 (I just got the paperwork for all this from the state this week). What would I have done with that extra $190? Bought goods, which would have created just a tiny bit of excess demand for that whatever goods those were. Built up with purchases of goods from other people just like me, and you create pressure on the business owner to hire someone to help manage the demand.

Instead my tax hike went to finance a tax hike for businesses. Those business owners now have no extra incentive to hire people, because the state has just given them my money and avoided that whole transaction. So, there aren't going to be any jobs created from the governor's business tax cuts, and every serious human being knows that. Yet, it's what still passes for conventional wisdom among our political elite.

Eric B. :: Jobs created by tax cuts: Another question the governor won't answer
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Nearly 10 million jobs nationally
The unemployment numbers out today show that 9.7 million new jobs have been created since 2010. Unemployment is now at 6.1% nationally.

But unemployment is 7.4% in Michigan - still one of the worst in the nation.

At the beginning of the recovery - during the waning months of the Granholm era - Michigan was growing much faster than the US as a whole (thanks for rescuing the auto industry, Obumbum). Now that Snyder's economic policies are taking effect, the opposite is true now (for reasons Eric mentions).

Now on Great Lakes, Great Times, Great Scott: Cotter vs. Jesus and Reagan

Wisconsin too
is seeing the same thing, for the same reason: right wing economics.

[ Parent ]
Funny thing
Once Snyder became governor, not one Republican used the phrase "single-state recession." Ever again.

A government that robs Peter to pay Paul can always count on the support of Paul.

[ Parent ]
He didn't really
say a quarter of a billion, did he?  

I listened to the Snyder sound bite
The governor said "million."

Either Skubick was living up to his reputation as the Mr. Malaprop of Michigan political reporters*, or the copyeditor was asleep at the switch--assuming his or her job hadn't been eliminated earlier by the MBAs.

* Famous Skubick malaprops include "venal sin" and "Gregorian knot."

A government that robs Peter to pay Paul can always count on the support of Paul.

[ Parent ]

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