May 16, 2011
Michigan governor Rick Snyder claims that his 1.7-billion-dollar tax cut for businesses will create jobs.
A reporter asked him how many – and he wouldn’t answer.
With good reason. Study after study has shown the same thing: tax cuts don’t create jobs. In the short run and the long run, a researcher said, “the results are likely to be very disappointing.” His studies show that after a 10% business tax cut, employment rises only 2% – after 20 years!
But then, creating jobs was never the point – increasing profits for big business was!