The May jobs report was absolutely deplorable. There are some signs of hope and that is in healthcare, which added 33,000 jobs and manufacturing, which added 12,000 jobs. Most of these manufacturing jobs could be linked to the resurgence of the Auto industry President Obama saved. A great number of job losses were in construction, where 28,000 Americans lost their jobs.
Now let’s talk about the Republican plan for job creation. They will tell you we need to cut corporate taxes, right? Well, perhaps they say that because the majority of Americans didn’t know that corporate profits AFTER TAXES have skyrocketed under President Obama.
So what is Mitt Romney’s plan? Cut taxes, especially for corporations. WHY? It isn’t producing very many jobs, is it?
In fact, the area that is driving the majority of job growth is healthcare as I stated above. Why is healthcare driving employment? Consumer demand through an aging population has increased dramatically. The other area, manufacturing, is also increasing job numbers — and that is being driven by consumer demand.
No amount of corporate tax cuts are going to inspire any corporation to hire people. If high AFTER TAX profits haven’t spurred job growth, bigger tax cuts and larger after tax profits will not either.
We have tried it your way, Republicans! We have cut taxes all over the place. All we got in return was high after tax profits for the investor class and no jobs for the middle class. Time to try something different!