“When you get into tax cuts for the very rich, they don’t buy much,” he [Richard Trumka – president of the AFL-CIO] said. “We need to create demand. And the best way to create demand is to put money in people’s pockets. We need to invest in jobs, because without the jobs you won’t get that demand.”
Trumka said the stimulus wasn’t as effective as it could have been because it was not big enough and invested in too many short-term projects with a 18-month horizon. He said longer-term projects would have brought in more investment and suggested taking unused repaid money from the bank bailout to give to regional banks to alleviate the credit crunch.
Where do they find these brilliant guys to run the union?
The “very rich, they don’t buy much.” HUH?
Let me tell you, if I were rich – not just very rich and apparently if you make over $250,000/year, you are VERY rich – I’d be finishing my back yard and I’d be buying new sofas for my family room. I’d be driving 963 miles (one way, that is) to see my 89 year old dad which means I’d also be staying in motel rooms and eating in restaurants. Gee, by making that trip back to Wyoming, I’d be helping waitresses and small business owners in 3 states and doing it both ways. But I’m not even rich – let alone very rich – so I’m staying in Arizona.
If I had money freed up and not taxed to extinction, I’d be getting someone here to prune the mesquite tree in my front yard – the one that will look like a monster tumble weed in front of my house by winter.
All those things create jobs. Money back in my pocket creates, and dare I say it – saves jobs. This man is a moron and whoever claims him as his union president it totally stupid.
Trumka has it completely backward but he’s a leftist so what else would you expect. You do not create demand by providing jobs. You create demand by letting people KEED THEIR DAMNED MONEY. Spending money creates demand which then creates jobs. Like every other leftist/marxist in this country, they simply do not get it and yet they still get air time on television.
I’m going to go right by the “stimulus wasn’t big enough”. It’s just too apparently easy that I won’t waste your time or mine.
Regional and community banks, by and large don’t want government money. There’s a “credit crunch” because everyone is scared and is holding onto their money. And small businesses are not looking to borrow because they have no idea what taxes they will be hit with.
Here’s a unique idea: How about we take that repaid money and pay down the debt? How about we stop taxing every thing that moves (and doesn’t like a tanning bed) and let people keep their money. When they have money – along with the very rich – they spend it. That creates demand and that creates jobs.That’s the only place he’s right – demand creates jobs. But with no money, there is no demand.
This Trumka guy is an absolute idiot and I would not be telling anyone that I belonged to his union.