Dow Drops More Than 500 Points

[Slingin Sammy 33]

Originally Posted by Beemnseven

Well, we certainly aren't getting hired by poor people are we?

The job creators will create jobs only if it fits their business model. Most Americans don't seem to understand this. There's this notion that if you're wealthy, it's your natural patriotic duty to give up that money in the form hiring someone.

The job of a corporation/business is to remain profitable for their shareholders. That's it. It isn't their job to provide employment. In fact, if somebody runs the numbers and finds that operations can still be successful while reducing labor costs, hiring will stop and the workforce might be trimmed. On the other hand, if it's determined that it would be more profitable to expand services/operations, then you'll see more hiring.

If the rich are fearful that the government is set to confiscate even more of their money, which is what's scheduled to happen at the end of 2012 when the Bush tax cuts expire, you'll see timid, temporary hiring at best.

Now, if government would just get the hell out of the way, stop threatening the risk-takers, entrepreneurs, ... the "job creators" ... by taking more of their money, and instead adopted the policy of allowing people to keep more of what they earn and let them be as wildly successful as they can, then that's an economic environment we'd all want to be in.

Great post. I would add the increased regulatory burden and the effects Obamacare will have when its fully implemented are major factors in keeping businesses on the sidelines until after 2012. If Obama is re-elected, it will extend the malaise another 4 years.