Republicans continue to tank our economy by simply applying a thick coat of ideological bullshit to the legislative policy.
I've got the best example for you, in the whole world:
MiddleClass: Rep. Eric Cantor’s legislation proposes to allow certain “small businesses” to deduct up to 20 percent of their qualifying domestic business income or their taxable income, whichever is less. "Small business" is defined generally as a business with fewer than 500 employees, regardless of gross income.
But here’s where Republicans start leading us into the black hole of debt:
The beneficiaries of this tax break would include (99% of all businesses) doctors, trial lawyers, stock brokers, consultants and other high earners who would not necessarily use the tax break to hire additional staff. According to the Urban-Brookings Tax Policy Center about 49 percent of the tax cuts would benefit those in the top 0.3 percent, those with incomes over $1 million.
According to a Joint Tax Committee analysis "key proponent of the bill says the 1-year tax cut would create 39,000 jobs, meaning "H.R. 9 would increase the Federal deficit by $1.1 million for every job supposedly created."
The most telling indictment-from the Joint Committee on Taxation analysis, which the Republican sponsors of the legislation chose to ignore … it would increase deficits by $46 billion, yet "the effects of the bill on economic activity are so small as to be incalculable" in the context of the larger economy. That contradicts the conservative claims that the tax break in this legislation would be an important boost for small businesses and for the economy.
Nearly half of the beneficiaries would be taxpayers making more than $1 million … average of $44,000 … claimed regardless of whether that tax break is used to hire an employee; even companies that fired employees or sent their jobs overseas would still get the tax break. In fact, the White House's Statement of Administration Policy for the bill said that "small businesses that invested or hired more this year would, in many instances, get a smaller tax cut than those that did not" because the tax cut would be based on net income after expenses, including worker costs.
The final nail in the coffin:
According to a 2011 Congressional Budget Office report, temporary tax cuts on businesses are the most ineffective means of creating jobs, with a budgetary cost of $1 million dollars per job created. A more effective job-creation strategy would (be to )contain such measures as infrastructure investment, aid to state and local governments, and long-term tax reforms that would encourage job creation in the U.S.