I hear a lot about how rich people create jobs. BS. If anybody creates jobs it’s innovators, not rich people, and in any case why does creating jobs matter more than doing them? You can’t create a job without having someone to fill it. Just because capital is necessary doesn’t mean it should be privileged over labor which is also necessary. Even if that weren’t the case, the oft-prescribed policy of giving tax breaks to rich people so they can create more jobs still wouldn’t work. Some money is spent in non-job-creating ways, some is spent on foreign labor (which is not intrinsically bad but is no justification for domestic tax cuts), and you can only create so many jobs before there’s nobody left to do them. To the extent that we want to reward or stimulate job production and other benefits to the real economy, we should offer tax cuts tied specifically to hiring. Cutting revenue by cutting taxes for those who least need it and who have no direct interest in creating jobs (instead mostly preferring to increase their fortunes by speculating in international stock/currency/futures markets) is just bad policy.