America’s middle class are the job creators in America because their purchasing power is what makes our economy work. Any economics 101 class will tell you that the entire economic world is based on SUPPLY and DEMAND
because
DEMAND creates the need for SUPPLY and SUPPLYING products to satisfy DEMAND creates JOBS
Politicians are being paid to misinform when they say the rich, or corporate elite, are America’s job creators. This is a myth borne from the discredited “trickle-down” economic theory created during the Reagan Administration. It is simply not true. Here’s the truth –
The truth is – the Middle Class in America has the largest demand for goods, by far, since we are between 50% and 60% of the population in the middle of America’s economy. We buy more durable goods and big-ticket items, like automobiles and refrigerators, eat more food, travel more miles, and generally buy more stuff than the economic classes above and below us.
If the rich created jobs, then when they’ve been given large tax breaks in the past, one would expect that America should have increased jobs. But, as shown in the two graphs below during the major tax cut years of the G.W. Bush and Trump presidential years, just the opposite actually happened. And of course, tax cuts contribute to America’s national debt in a very significant way. So, these major tax reductions are gifts for the rich and little else, and they do not help the middle class in any significant way.
Don’t believe politicians that tell you the rich and corporate elite are the “job creators” in the U.S., or that tax cuts create jobs. Such politicians, are most certainly being paid by the corporate elite (America’s version of oligarchs) to say that.
Now that you know the Middle Class creates jobs in America and not the rich, why in the world would some politicians want to hurt the Middle Class by holding down wages, reducing retirement benefits, eliminate collective bargaining, and want to reduce Social Security, Medicare and other healthcare benefits?
Politicians should be helping the Middle Class thrive. We realize, of course, it’s nothing personal; it’s just business to those politicians that are paid by influential campaign contributors. And sadly, many voters are too misinformed to see what their elected politicians are actually doing.
The Middle Class Political Accountability Research Center will try to change that.