Originally posted by jamie83
Here's a quick reality check for all of you who support Obama and his plan to raise minimum wage and who also wring your hands over the latest 6.1% jobless rate.
If companies are already laying off workers now at an unacceptable rate, increasing the cost of hiring workers will do the following:
* make hiring new entry level workers less likely
* make laying off more entry level workers more likely
* outsourcing of service jobs to India more likely
* make international companies less likely to locate businesses in the U.S.
* decrease tax revenues by cutting into companies' profit margins
And if that's not enough, Obama's plans to raise taxes on businesses at the same time will amplify all of the above consequences.
So while we are not in a recession yet, we might be in one when the new administration takes over in 2009. Nothing Obama is proposing is going to make doing business in the U.S more attractive to the large corporations who supply jobs. Nothing Obama is proposing is going to make it easier for middle-class families to create successful small businesses.
If you believe the current administration and Congress are driving the economy into the ground, wait until you see what Obama and a Democratic Congress are going to do.
You will be longing for the good old days of 6.1% unemployment and $4 a gallon gas.
[edit on 6-9-2008 by jamie83]
(Off-topic text removed)
If the right is so concerned about the economy why can't Mccain be specific?
I know why,,,, I know why????
Because if he actually told the public that his entire economic plan was only the following - PER johnmcpitbull.com
lower the corporate tax rate to 25% - from 35%
Phase out AMT
Get rid of inheritance tax up to $10,000,000.00
lower the top 1% to 9%
shift tax brackets in order to increase T1 - T2 m. income % tax.
(Off-topic post removed)
Mod Note: Please Remain on Topic -- Please Review
[edit on 9-6-2008 by chissler]
