What is a “Job Creator”?
There is considerable political noise surrounding the idea of job creation. The right wing uses the “job creator” argument to push the position that increasing taxes on the rich will burden job creators and deter from future job creation. The other side tries to show that we should increase taxes on the rich and reduce taxes on the real job creators – the consumers. This is another common case of filtering economics through a political filter in order to validate a preconceived bias. A capitalist economy has, in the extreme aggregate, a theoretical level of infinite demand. Entrepreneurs and capitalists meet that demand by creating goods and services with the hopes of generating a profit. Importantly, the consumer and supplier are two sides of the same coin. Henry Ford doesn’t exist without demand for automobiles. Apple doesn’t exist without demand for iPhones. If there is no demand for the goods and services in a capitalist economy then the...