…never create jobs unless they stand to gain from it. Job creation is not a charity. Making them heroes is a myth. Who are these people? They are very few indeed. And the Republican Party would like to take the shackles off certain of these individuals or entities as might in return do the many the favor of giving them jobs.
It’s useful to boil the Republican jobs program down to one proposition: let’s find ways to make it more profitable to create a job. In general, this is to be done by sacrificing some other public interest, not to the creation of the job, but to the profit of the creator. Tax incentives are one such, possibly the least abusive, form of public sacrifice.
It’s just mathematics, isn’t it? At the margin, the public gets another job, but has to give up something from a different margin of their own. Why not rather insist that the job creators be good at what they do, and then make shift themselves to gather an adequate profit? Those who insist they can’t create a job because of, say, a regulated use of public lands, either lack ideas or energy for other kinds of efficiencies, or want to make a killing out of public assets that cost them nothing.
And so there are already two kinds of job “creators,” maybe three. Some, the real ones, are entrepreneurs who can deliver products or services better, faster, cheaper (according to the old business saw, pick two of the three). These people rely on their own ideas to make a buck, and as necessary to that end, they create a job. They may be rich, but not wealthy yet. The only way they’ll ever become wealthy is to create jobs; this kind of job creation is real, not mythical.
They’re not permanently petit bourgeois, and they’re not yet big bourgeoisie either. Even if they’re already among the Few, they’re too busy to try to influence public policy – at least not directly, and not just to generate profit. Instead they vote, and they may contribute to the candidates of their choice. But they (the ones I’m thinking of) rely more on industry associations and the like, and not on their own dollars, for political influence. At the margin, they’d rather invest that dollar in, for example, creating a job, than in contributing to a PAC with a specific policy change agenda and a known record of…we’ll see. For one thing, the profit on the job is tangible, immediate, calculable, and under their own control. The profit in political manipulations is none of those things, so to these people it’s not worth the risk.
They are entitled, it seems to me, to vote Republican if they like. But there aren’t enough of them to elect one, and the people who work for them do not have to vote with them to keep their jobs. They can and should vote in their own interests.
Next, what about all that cash money on the books of the largest corporations? If somebody wanted to create jobs, why not use that money? But they don’t, as we’ve seen, unless the new worker will bring profit. Otherwise it’s just wages down the drain – which makes the worker bee who doesn’t have a chance to earn them, metaphorically, a “drain.”
So the money is used instead to buy back stock, to acquire businesses that actually are creating jobs, to pay dividends – in short, for things that make the balance sheet and stock price look good – but not for things that in themselves create jobs.
No: institutional investors and boards of directors are not job creators either. They’re profit takers, profit creators, not job creators. In fact that, not job creation, is their fiduciary duty, not their self-interest only. I suppose if you’re a small investor like me, to whom this fiduciary duty is owed, you might want to vote Republican, just to help ensure your retirement is comfortable. But I’ll take a pass. I’d rather vote to help ensure the working poor can take care of themselves when they retire.
Which brings me back to those other people, the people who purchased the “job creators” myth, and several others, the ones for whom political influence is an element of profit. It’s always something for nothing with them, isn’t it? We’ll tell you lies and you give us votes. And with your votes, we’ll loose the bonds on the public values we covet, and tear off the shackles on our…greed.
But all this require further explanation, otherwise it might look like a conspiracy theory. And so…coming soon: The Mythmakers.
No comments:
Post a Comment