Tax cuts should be tied to job creation

William Bruchert, Las Vegas

Monday, Dec. 20, 2010 | 2:04 a.m.

Many on the right tried to convince us it was necessary to give tax cuts to the rich because they are the job creators. That was the promise they made when President George W. Bush’s tax cuts were put into place, but that obviously did not work. Instead, we were lied into the biggest deficit increase and one of the biggest job losses (including a huge part of our manufacturing base) in American history.

I wish our leaders had forced the conservatives (whether they’re Republicans, Blue Dog Democrats, Tea Partyers or Libertarians) to keep their promise of job creation (and put their money where their mouths are) by allowing the current cuts to have expired on schedule as Bush signed the law for them to do (which is why it is actually the “Bush tax increase,” not Barack Obama’s). I also wish our leaders would have put the following conditions on any future renewal:

1. Every job lost during the time the cuts were in effect must first be regained, the additional growth of 200,000 jobs each month thereafter must be maintained, and provisions for full-time and manufacturing jobs must be included.

2. Each year the job growth goal is maintained, the tax cut would be re-implemented by 1 percent increments until it drops to the level of the Bush tax rate.

3. If the job growth goal is not met during any single year, the tax cut would reset to the expiration level. (Alternately, the tax rate could be increased by 1 percent increments each year the goal is not met, just as it would be dropped by 1 percent each year it were met, but then the tax increase on the top 2 percent earners would be without a cap.)