Just another way for 0bama to asphyxiate the private sector.. Forcing small businesses OUT of business. Soon the only job will be as a SLAVE to the government.
I am not a business owner, but I would assume excess cash is a trade off. One can hire more workers to get the job done, or one can invest in the productivity of current workers. With the cost of new workers now rising rapidly, I would think an employer would rather use their money to train CURRENT employees to make them more productive, and forgo adding to their staff levels.
The only people surprised by this are the people who wrote and passed the bill. :(
There is almost ZERO hiring...
reason number 1: Obamacare taxes and regulatory compliance costs
reason number 2: Obama’s new higher taxes just shoved down the throats of small businesses
reason number 3: many employers are also “psyched out” by all the anti-business rhetoric and “abuse” coming from Obama and his apparatchniks
expect more of same downwards-spiral for next 4 years.
the public voted for this depression/great recession type of economy so.... it appears we just have to get used to it
I appreciate their desire to Go Galt, but in the end this will fail.
The reason is we just don’t have enough people willing to drag their arse out of bed and go take a 20 hour per week near-minimum wage job when they can scam unemployment, welfare or SSI. (this was likely the very reason Obama dropped the work requirement for welfare).
Store up the road from me planned to hire 100 people and cut everyone’s hours. They were actually able to hire 17 who were willing to take the job (and I understand some of those have already moved on)
But look on the bright side. Hiring more part time workers will show a decrease in the unemployment numbers.
I’ve observed a few retailers cutting full time employees down to 20 hour weeks and hiring new part time employees.
“My fellow Americans... it is now clear that rich private business wishes to devastate the middle class by lay-offs and decreased work hours. I have therefore signed an executive order nationalizing such companies as we feel are guilty of such tactics in order to protect the middle class and the poor...”
What!? Increased taxes and regulation actually hurts the economy? Say it aint so!
Wait a minute. Is the article implying that central planning doesn’t work?
Awesome. I love it. The supporters of the idiot are getting just what they deserve, fewer jobs and lower pay!
No amount of government largesse is enough to pay for all the crap they want.
My employer is a very large multinational corporation, and we have our health insurance partially subsidized. However, due to the economic situation, several employees are being forced to take either 5 or 10 days of personal leave from now thru March 31, depending on position. If they have not accrued adequate hours of leave, they must take it as unpaid furlough time.