While corporations are sitting on records amount of cash and still refusing to hire we have the reality absent GOP pushing for more tax cuts for these people. They consider to insist that their almost 30 year old failed experiment in economics is the way to go, that some how corporations will create supply without any demand. It's enough to make your head explode.
Today Think Progress posted this chart. I have seen it before but always forgot to share it. It's a striking tell of what the Bush tax cuts did for the jobs market:
I know many on the right will be quick to dismiss this chart as some form of partisan hackery, compiled using fake numbers. To those people I ask you to look at the data source. This data comes straight from the Bureau of Labor Statistics and at the time of the data, George Bush was President. So if you honestly believe that the Bush administration would alter data to make it look like one of his keystone pieces of legislation was a failure then I'm amazed you even have the common sense to turn on a computer.
For those that do accept this data and realize it is true, especially given the fact that it was produced by the Bush administration, thank you. We can get beyond the partisan rhetoric and talk like grown ups, which is something greatly amiss in our country today.
At a time most employees can barely remember their last substantial raise, median CEO pay jumped 27% in 2010 as the executives’ compensation started working its way back to prerecession levels, a USA TODAY analysis of data from GovernanceMetrics International found.Workers in private industry, meanwhile, saw their compensation grow just 2.1% in the 12 months ended December 2010, says the Bureau of Labor Statistics.
So the big bosses saw raises 13x that of their employees. How can we celebrate that? I know! Let’s give them even more tax cuts, and to pay for it, we can raise the taxes on those that saw the very generous 2.1% raises.
And to show just how bad this problem is, Think Progress adds this little tidbit of joy:
This morning Joe Scarborough was all giddy touting that George Bush “created 3 million jobs”. This is something I have seen Republicans push for quiet sometime without backing it up with any data. Well that data is really easy to find on the Bureau of Labor Statistics website. First off, here is a nice graph to illustrate job creation/loss: