A few months ago, I wrote a column on The Job Creation Myth, targeting the GOP’s claims that if you lowered taxes on higher-income Americans and corporations, they would create more jobs. Now, one of those higher-income corporate CEOs has written a piece supporting my argument.
Mark Cuban, one of the 500 wealthiest people in the world, owns the Dallas Mavericks, Landmark Theaters, Magnolia Pictures, and HDNet — so he knows a little about creating jobs. On his blog, he recently wrote that companies don’t hire more people based on their tax rate; they hire people because they need them to do a job and keep customers happy:
It is incredibly expensive to hire people. You hire people because you need them. You don’t hire them because your taxes are lower. You don’t hire them because you just repatriated cash from a foreign country. You hire them because you have a specific need for them. They are going to help you become more profitable, more productive, more competitive, whatever the reason. No one hires people simply because they have some more cash in the bank.