Under Bill Clinton the income tax rate was 39.6%, the capital gains tax rate was 20-28%, and the dividend tax was higher. 22 million jobs were created under his tenure. It doesn't prove a strong connection between the two (investment taxes & job creation). But if this myth of low taxes on investment income = jobs then we would've had no job creation before george Bush or Ronald Reagan. Taxes on corporations & the wealthy were very high before Reagan.
http://en.wikipedia.org/wiki/Domestic_policy_of_the_George_W._Bush_administration#EmploymentI think from Dec 2000-July 2005 the Bush admin created 200,000 net jobs.
"During Bush's presidency, the U.S. population has risen by about three million people per year. Private employment (seasonally adjusted) originally decreased under Bush from 111,680,000 in December 2000 to 108,250,000 in mid-2003. The percentage drop in jobs was the largest since 1981-1983. The economy then added private jobs for 25 consecutive months from (July 2003 to August 2005), and the private employment seasonally adjusted numbers increased as of June 2005 when it reached 111,828,000."
No idea what about July 2005-March 2008. But we've lost over 200k this year so far. So I doubt the net job growth has been more than 2-3 million in his 7 years.
Bush has cut taxes for the rich, we have 2-3 million net jobs. Clinton raised taxes on the wealthy, we had 22 million jobs. Doesn't prove anything, but it does really tend to show what BS the idea of cutting taxes on the rich as a vehicle for job creation is.
you can easily create jobs by investing in infrastructure too. If we build renewable energy, universal broadband, universal pre-school, high speed rails we would create millions of jobs.
OBama & Clinton want to spend $21 billion a year for 10 years to create 7 million jobs in alt. energy & infrastructure.