Posted on 01/09/2009 5:42:54 AM PST by Red in Blue PA
Companies are cutting back because sales are down—and in many cases WAY down. If you factor inflation it’s even uglier. The credit bubble has burst. Minimum wage has a very, very minimal impact on retail (trust me).
Just wait until Obama and the Democrats start spending that trillion dollar pork barrel on union make-work programs. The entire population of Mexico will be moving in.
So, the Democrat solution to our economic problems is to fight Global Warming. OK. Spend trillions of dollars that we don’t have fighting a problem that doesn’t exist. Yeah, that’s the ticket!
Ain’t socialism grand!
As for sales, Americans have over spent and maxed out their credit cards. Our government is in trillions of dollars of debt, and personally, Americans are in trillions of dollars of debt.
None of this took place overnight, but the Media now has exactly what they talked us into...good luck Democrats. By the end of Obama’s first term, he'll look much worse than Jimmah Cartah.
I’m in corporate management for a grocer in over 20 states. Minimum wage is not an issue. It will raise our labor costs by less than 1/4th of 1%. People below that $7.25 minimum wage are normally 16/17 year olds working 10-12 hours a week and they are an extremely small part of the cost structure for retail. Taxes haven’t been an issue either as no one believes he will be raising taxes in the next 2 years at least and probably not at all on corporations. Do you have a link showing corporate tax rates going up? If so, I can easily pass it along to all of our executives.
So you’re telling me that the American people can continue to take a hit from companies and the Federal government?
I’ve talked with Corporate managers who are working fervently to cut any fat possible in order NOT to pass the cost increase to the consumer.
This is plain simple economics 101.
No.
Amazing how they deliver their number. "Worst job loss since WW2", when our future President talks like this he's trying to sell us a bill of goods.
Act today! and you get your...
Call now!
This day only!
O'bummer should seriously consider infocommerical work after the presidency.
Thank you for the link.
I'm finding that most people don't understand that to create permanent new jobs that the only way to do this is through private business. If 0 pursues job creation through govt as soon as the stimulus is stopped the jobs disappear. A good example is the 1930's, but even more current the 1990's in Japan.
In the 1930's unemployment was also extended because of stupid wage and price controls and regulation imposed on business. In Japan they ended up with a lost decade because everytime their economy started to grow they stopped their govt stimulus approach and immediately sunk back into a recession.
The bigger issue is what happens in America affects the entire world. At some point other nations will stop buying treasuries and doing business in dollars.
Boy are you right!
It has to start with the PUBs. Too many of them have forgotten what real leadership was and how Reagan achieved the restructuring of the entire world and our economy. The answer is so simple TAX CUTS on business and capital.
“You really think companies are not preparing for Obama’s promised tax increases? “
Yes, that is what the shedding of almost 1 million jobs since Obama was elected is all about.
Sales are way, way down in retail. That is why corporations are cutting jobs/hours/inventory. Taxes are not being raised at all this year or next year according to Obama last I heard so I’m not sure what you are talking about anyway. Inflation WAS rearing its ugly head and businesses were trying to avoid that—but that fight was 6-12 months ago. Costs are dropping in that regards. The big concern is sales, sales, sales.
I couldn’t stand Clinton, and it turns out besides his Supreme Court Picks, Bush was even worse.
Six Years of total R control and it was a disaster.
It seems we are better off with a fiscally conservative congress than a Republican president.
“Taxes haven’t been an issue either as no one believes he will be raising taxes in the next 2 years at least and probably not at all on corporations.”
It sure is an issue, as a future tax hike influences decsision now. The tax hike is on the ‘rich’ - personal income taxes, which hits all subchapter S Corps and LLPs. We need to make Bush’s tax cut permanent at ALL levels or the impact on the economy will be bad (it already has had a negative effect).
” Do you have a link showing corporate tax rates going up? If so, I can easily pass it along to all of our executives.”
The issue with the Corp. tax rate is that it is way too high already at 35% and is non-competitive globally (we are the highest rate among OECD nations) *and* we charge for repatriating earnings from overseas (basically we punish corps for bringing money home - how stupid is that?!?), as a way to try to tax overseas earnings (which no other country tries to do, they just tax earning from in-country operations). It drives corporations to register offshore. The Dems demagogue about Bermuda Corps without asking the question “Why do they flee?” ... Because the IRS is trying to rip them off!
Obama’s other bad tax plans will drive up the marginal tax rate for people making $40,000, because of how he structures the tax giveaways. this will skew and discourage employment.
last, grocers have very low sales margins so I dont think they would scoff at even an expense that is 1/4 of 1%. They watch every penny. Obama’s plan is to raise Federal government spending by $2 trillion above where it was last year - this massive government spending is an absurdity that will have to be paid back. If your businesses wallet has money in it, it WILL get raided sooner or later.
I'll stick with what corporate people have told me; they are more believable.
Thank you Jorge W. Bushwinski. Your legacy is now set in stone.
Toss out our 12-20 million “guest” illegal workers and you will have 12-20 million jobs available for those willing too work for a living.
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