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It has nothing to do with a particular tax rate but the tax code itself. Profits made by U.S. corporations overseas is NOT TAXED until it's repatriated back to the United States. That money is going to stay exactly where it is for that reason. When you combine that with the growth rate and lower wages of emerging market countries that is the biggest reason corporate money isn't coming back the the United States.
This is simply a matter of the workers in the United States no longer being wage competitive in comparison to other countries. The American economy is based on free market capitalsim. Well this is what happens when other countries play the game better than you do. If you don't innovate and you don't educate your workforce to create higher levels of value the competition beats your *ss.
Many unemployed have post graduate degrees... Masters... PhD... etc...
Why you ask do all these businesses not move on and do something with that money?
The simple answer is they don't trust Obama, or where he and the Democrats are going; and the two year extension of the Bush tax cuts is too small a window for any business to plan future moves to.
Yes, there are plenty of jobless I would not so much describe as lazy as I would say spoiled to what their prior wages were compared to what they are worth in the market now.
Many refuse to work a lower wage job and there are some working several lower wage jobs. I guess what you do is going to be based on the kind of person you are.
1. The economy is still recovering. It may look like businesses have a lot of extra cash, but compared to a few years ago, they really don't have that much to play with.
2. Consumer demand is still too weak to justify a lot of new hires.
3. Foreign labor is cheaper.
4. Technology is reducing the need for many jobs that were previously done by humans.
It's not about taxes. Corporate business taxes are no higher now than they were a few years ago. But if you want to take some of the burden off of businesses, you should be in favor of a single-payer health care system; they'd save a lot of money on benefits if we had a single-payer system.
1. The economy is still recovering. It may look like businesses have a lot of extra cash, but compared to a few years ago, they really don't have that much to play with.
2. Consumer demand is still too weak to justify a lot of new hires.
3. Foreign labor is cheaper.
4. Technology is reducing the need for many jobs that were previously done by humans.
It's not about taxes. Corporate business taxes are no higher now than they were a few years ago. But if you want to take some of the burden off of businesses, you should be in favor of a single-payer health care system; they'd save a lot of money on benefits if we had a single-payer system.
It's ALL about taxes and uncertainly with Democrats; Obamacare costing a fortune to implement, that in two years the Bush tax cuts go away, that there was never tort (lawsuit) reform, and that all laws regarding businesses are choking them to death compared to outside the USA.
PS All the single payer systems around the world eat up most of those people's take home pay and they get the worst health care in exchange, so we don't need socialized medicine (thanks for nothing).
Reduce the size of government and government employees.
Rid the states of many anti-business restrictions and lawsuits.
Get the tax rates down to what they were in the Reagan years so we can again see a doubling of income to the treasury as we saw under Reagan.
It's ALL about taxes and uncertainly with Democrats; Obamacare costing a fortune to implement, that in two years the Bush tax cuts go away, that there was never tort (lawsuit) reform, and that all laws regarding businesses are choking them to death compared to outside the USA. PS All the single payer systems around the world eat up most of those people's take home pay and they get the worst health care in exchange, so we don't need socialized medicine (thanks for nothing).
Reduce the size of government and government employees. Rid the states of many anti-business restrictions and lawsuits. Get the tax rates down to what they were in the Reagan years so we can again see a doubling of income to the treasury as we saw under Reagan.
Proponents of benefits extensions point out that corporations are sitting on approximately 1.8 trillion in cash while not hiring.
Reluctant to Spend or Expand, U.S. Companies Are Sitting on a Record $1.6 Trillion. A fairly staggering figure that comes out of the Bureau of Economic Analysis: Despite widespread unemployment, the BEA reports that U.S. corporations, reluctant to expand in an uncertain economy, are sitting on $1.6 trillion in cash reserves, a record amount, according to BEA economist Greg Key. Even looking at the companies in the Standard & Poor's 500 index of blue chips -- and stripping out financials, which are required by regulators to keep large cash reserves in order to cushion against risk -- the cash on hand number is still rather monstrous: $1.1 trillion. To put that in perspective, as a percentage of companies' total market capitalization, that $1.1 trillion is more than double the ratio seen before the crisis.
The Economic Policy Institute's March 2010 report cites an average of five applicants for each job opening.
The Bureau of Labor Statistics has released a report on the long-term experience of the jobless.
By the end of 2009, the jobless rate stood at 10.0 percent and the number of unemployed persons at 15.3 million. Among the unemployed, 4 in 10 (6.1 million) had been jobless for 27 weeks or more, by far the highest proportion of long-term unemployment on record, with data back to 1948.
So much for lazy Americans looking for a handout...
You fail to answer one question: Since when do companies hire people based on how much cash they have in the bank?
One has nothing to do with the other. A business is under ZERO obligation to hire anyone. Ever. Unless they need that person to perform a specific job. And it is still only the companies business. Not mine, yours or anyone elses. And businesses are not charity.
Look at the Soviet Union and Eastern Bloc countries. They hired people just to hire them. They were still poor.
Better yet, look at the United States from 1930-1945. The U.S. government hired people just to hire them. It was the poorest period in our history. People must have a job that is of benefit or it won't help anyone.
And we should be thanking these companies for sitting on this cash. The more money we have in the money supply the less valuable that money becomes. That causes inflation. The feds keep dumping money in the money supply, leading to inflation. "Hoarding" it helps keep inflation down.
Just another example of the capitalist fixing problems created by the goernment. Quickly, quietly and efficiently.
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