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jasonkbernard

The Clinton era tax rates had absolutely no effect on the economic boom of the 1990's. The commercialization of the internet was the sole driver of the economic growth and it's ability to instantly market products to millions of consumers. In addition, it was the low capital requirements to start a website selling products that didn't have to be purchased first or find a place to store that allowed thousands of entrepreneurs start new businesses. Only that kind of large scale economic innovation can create millions of jobs.

The Democratic Party's assertion that we raise taxes on the wealthy and somehow jobs will be created is bogus. Entrepreneurs and businesses create jobs when they invest capital into asset that produces a good or completes a service and then sells the good or service to consumers. The question is how to get people to make capital investments into the into economy.

I am not of the opinion that only the wealthy make investments into new businesses. I think this country is at its best when every person feels they can take a chance on a new venture and find success. What I am saying is it is very hard to start a new business and be successful at it. If a person somehow perseveres, sacrifices, and works their butt off and makes some money, we don't want to punish them by confiscating their reward. That is a sure fire way to diminish risk taking.

That being said given our fiscal reality, it is foolish to think that we can solve our deficit and debt crisis without raising taxes. It will require tax hikes and spending cuts and it is dishonest for the President and the Democrats to say the Republicans won't compromise by raising taxes if they are unwilling compromise on reducing spending.