Job loss is not really the worst thing in the world to business. Usually layoffs and cutbacks get rid of dead weight. Union shops have an impossible time getting rid of workers. With the larger employee pool, employers can find good candidates that know how to really work. Sure you have to filter through more unacceptable candidates but this is the time to lean up the processes with better people. Revenues will suffer but profitability as a percentage can be maintained.
Taxation is the biggest hurdle to our recovery. Revenue could plummet with rising prices, and that will not bode well for stocks. I think we are done for personally, at least for the next two years. After the right takes back the Congress in two years, and the economy is in the tank, Obama will have to concede. Maybe we can get those tax incentives after all.
Revenue could plummet with rising prices.
http://www.mlive.com/news/index.ssf/2009/03/michigan_lottery_sales_taxes_o.html
(Jenny Granholm calls drop in sin tax revenue “breathtaking”)
“... Obama will have to concede. Maybe we can get those tax incentives after all.” Um, I think you may be missing Barry’s reason for tanking the economy. Democrats believe raising taxes to fill federal coffers so they can create for dependants upon the federal dole stimulates the economy; Barry wants the eceonomy to flush down the toilet so that he can get a ‘consensus’ to tax to the max. At no point in the swirl down into the septic tank will Barry see there is something wrong with his approach. He doesn’t comprehend simple truths, he creates them, or so he and his stupid minons think.