Current Events — HabitableZone

Current Events » in reply to Some more fun with statistics, or: where did those lost jobs all go?

job creation has been slower than in almost any previous recovery, and wage growth has slowed to a crawl
Greg — (archived)

The thinking inside the administration was (i) we want to tilt the distribution of wealth in favor of the rich this way, (ii) the current worries about unemployment give us an opportunity to do so if we claim that the dividend tax cut is really a jobs program, and (iii) employment will probably recover on its own anyway so we really don't need an actual jobs program. That was the administration's thinking: pass the dividend tax cut rather than a real stimulus program and bet that job growth would accelerate on its own. It was a risky bet to make. They made it. They now appear to have crapped out.

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