Recently a Republican talking-head stated that we had to extend tax breaks for the upper 2% because this will help reduce our high unemployment. Give me a break! Does this mean that without extension of the tax reductions, the poor rich people will not be able to hire a second maid or augment their landscaping crew? We're talking about taxes on personal income, not on corporations. The jobs we need will come from companies and businesses, not from individual's staff.
The Republicans still seem to be wedded to the totally discredited theory of "trickle-down economics." You know that fallacy: give all the tax breaks to the big corporations, and the benefits will eventually trickle down to the working class. This is partially true, but in our economic environment, the working class will be in China or India.
Actually, in the past 10 years or so, we have seen this trickle-down effect in operation. Unfortunately, it didn't trickle very far--only to the top executives in the US financial sector. I haven't seen these people hiring too many additional housekeeping staff or lawn boys. Instead they all seem to be purchasing beachfront property in the Bahamas. Well, at least it helps the real estate market there.