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Notice here ^how Obama's comments are riddled with double-speak?
Sure thing...do ya think we could somehow pass a Constitutional amendment prohibiting any attorney/lawyer from entering into politics? VBG It seems that they are taught, in the course of their education, to defend anything, right or wrong. IMHO, that attitude and concept will not work for the best interests of America when applied to political office.
Let's use a smaller scale "dollarnaire" to try and help the Obamabots:
Jimmy runs a lemonade stand, kills it all summer. gets home and mom says "you have to give Billy next door 50% of what you made off your lemonade stand". Jimmy says "but Billy sat up and watched cartoons all summer, that's not right mom!"
Do you think it's fair for Jimmy to have to break down his money like that? simple answer yes or no.
1. Those profits are invested somewhere...and that somewhere goes to creating new business, creating $'s to loan to create or expand business, and other areas that do, indeed, end up "creating jobs!"
so then how do you explain the current situation, where corporations are well-capitalized, but are not hiring?
What a load. Taxes are levied on profits, and labor is an expenditure. Nobody hires a job because they have extra money, nor do they cut one because they have none. Labor depends on demand. If you have high enough demand, you hire another worker. If you have no demand (essentially what we have now), you lay off workers.
Increasing taxes kills zero jobs.
So how high can you raise taxes before it does kill jobs, or do you think even at 100% tax rate would not affect a business owner?
Businesses survive according to their profit margin. If they have money left over after business expenses, payroll and taxes, it becomes their profit. If you tax and regulate them more, there will be less in profits, and they will need to cut expenses, or raise the cost, or the fees, for their product.
If I was a business owner and you raised my taxes, i may no longer have the profit margins to expand my business, and I may even be forced to cutback to remain in business. If i am a manufacturer, and my foreign competitors realize my taxes just went up, they will have an advantage against me, and will use it against me.
If you support increased taxes, don't complain when more jobs go overseas, and more businesses can no longer remain competitive and go out of business.
No, it doesn't go that way. That's the point. It's only happened within the last 30 yrs. The country I grew up in the 1960s had a middle class. It was a society without extremes of wealth or poverty (while there were still Rockefellers and ghettos) the society broadly shared prosperity, partly because strong unions, a high minimum wage, and a progressive tax system helped limit inequality. It was also a society in which political bipartisanship meant something: Democrats and Republicans agreed on basic values and could cooperate across party lines.
Income inequality declined drastically from the late 1930s to the mid 1940s, with the rich losing ground while working Americans saw unprecedented gains. This was a seminal episode in American history.
If I happen to find myself as one of the 400 wealthiest persons I'd be grateful and not be greedy about paying a few p% in taxes to a nation that provided so much.
The trouble with your analogy is that all that "strong unions, a high minimum wage, and a progressive tax system helped limit inequality" over time has led to the miserable mess government is in today; i.e., States are bankrupt because of "UNION" contracts for retirement, etc., of public employees including teachers, Federal government in the same boat (government employees should never, ever have been allowed to unionize...that a conflict of interest), minimum wage laws have hurt and destroyed jobs for youth that used to allow them to start young and learn work ethics at the least, and it goes on and on. As far as "inequality" that depends solely on the individual and that person's willingness to educate themselves, even if it is on-the-job experience (actually that's better than a class room) and apply themselves.
There is no one, straight-line answer or area to blame. It is really all cogs on a wheel that have continually built and meshed into the current mess of wheels and cogs that has created a nightmare.
Here's a though! For every law and/or regulation passed, 5 must be rescinded. And...every law and/or regulation passed must have a sunset date so that in order to continue, that law or regulation must be re-evaluated to see if it has worked, does work or will still work. If not, it is gone! I think that's a good start toward correcting our mess.
As far as compromise, I will repeat for the umpteenth time on these forums!
NEVER compromise right for wrong
NEVER compromise on wrong
ONLY compromise if it has no right or wrong and, thus, will not impact incorrectly.
Thank God for the Republican majority in the house that has stopped "wrong."
so then how do you explain the current situation, where corporations are well-capitalized, but are not hiring?
Because our government is hostile to business, and our president is behaving erratically.
One day the president signs a law to give a tax break to corporate jet buyers, to stimulate the economy... the next day he demonizes corporate jet buyers and wants to take away the tax break he just gave them.
One day the president signs a two year extension to the Bush tax rates, claiming "You cannot raises taxes during a recession".... and the next day he pounds his fist demanding we increase taxes.
This president and his administration are an erratic, and destabilizing influence on our economy.
There have been dozens of new regulations which have been created out of the blue, by 0bama's EPA, FDA, Energy Dept and HHS, all of which greatly increased the day-to-day costs of doing business in the US.
No one knows what our laws, taxes or regulations will be next month, or next year, so smart businesses are sitting on whatever wealth they have left, in an attempt to wait out this 0bama storm.
ADDED:
If I am a business owner, how can I justify hiring more employees if I don't know what the healthcare costs imposed by government will be next year?
If I am the owner of a trucking company, or a manufacturer, how can I plan my business if energy prices keep going up, and we have a president and an Energy Sec. who both want to see prices for diesel fuel and electricity skyrocket?
And if i manufacture solar cells, how can expand or hire new employees, when I cannot compete with the US government giving hundreds of millions of dollars to my competitors here in the US?
There have been dozens of new regulations which have been created out of the blue, by 0bama's EPA, FDA, Energy Dept and HHS, all of which greatly increased the day-to-day costs of doing business in the US.
Be specific. What exactly about the regulations hamper business? You can't possibly be arguing that unless business has the 'freedom' to pollute at will or not protect the public safety by assuring product safety, they can't be in business.
To prove that this narrative is pure BS, corporations are posting record profits. Yet, they aren't hiring.
Of course, the real reason businesses aren't hiring is simply that demand is down and they require fewer people and have no need to buy new equipment.
this thread has proven the divide between the haves and the have nots:
Haves - Understands how money works.
Have nots - Don't understand how money works but desparate for answers so they can add some substance to this debate.
I can see a lot of "have nots" in here that need to go back to Economics class.
I think they still teach it in ....10th grade.
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