The latest unemployment figures tell only part of the picture. About 4,400,000 people are getting unemployment insurance. And another 24,000,000 have lost their unemployment benefits and/or stopped looking for work. Plus, many of the newly employed have taken jobs at lower pay scales.
In talking with many small businesses, they all seem to have one mind. They will not hire anyone new because of the potential obama health care costs and the very real possibility of higher taxes.
I asked what would change their minds. Mostly, they are unsure of the government's future actions. They all told me that if they rescinded the obama health care law and replaced it with a more sensible and less costly version, that would make some difference. Another thing that would help to change their collective minds is keeping taxes where they are and renewing about-to-be-expired-tax-incentives. Without these changes, they told me that they are unlikely to hire anyone in the future. Many even said they have given thought to closing down completely.
With small business hiring over half the work force, that bodes poorly for any employment gain going forward.
The future of jobs is in our hands. By voting out the people - that made these terrible laws, will soon raise taxes and possible de-value the US Dollar - in November 2010 and again in 2012. The cause of this problem can be debated later. What is needed now is a tax-break stimulus to help small, medium and large businesses feel confident enough to begin hiring. As more people are hired the economy will begin to improve. Simple to do.
The unintended consequences of just spending unwisely with pork to pay for the bribes to pass the obama health care bill will eventually bankrupt the United States Of America. No One Wants That!!!
There has to be a compromise. Someone will gain the system more than others. OK. BUT the one fact is that those people will create jobs for the unemployed and that's the compromise. Like it or not, that is the answer.
And that's the way I see it...
Jay Clifford
