July 9, 2012 by David K. Sutton
Ezra Klein: How Jobs Are Created In The Real World
It’s remarkable that Republicans keep telling the lie that is trickle-down, supply-side economics and people continue to believe it.
Ezra Klein explains how jobs are really created (Last Word with Lawrence O’Donnell):
The reason you hire people is because you need to hire them because there are profitable opportunities you could only take advantage of if you have more people. Until you get money into the pockets of the people who buy things…you’re not going to see fast job creation, not because there’s something deeply wrong with the economy, not because businesses’ taxes are too high, but because businesses are doing what they should be doing and not expanding when they don’t have profitable opportunities. The moment they have enough sales to expand, they will expand.
In other words, demand is what creates jobs. Period.
Addendum: Republicans would like to make businesses and business owners more profitable, not by hard work, but by giving them tax cuts.