There’s a lot of political talk these days about cutting taxes and slashing regulations on the “jobs creators”; but just who are these “jobs creators” and what kinds of jobs are they creating?
According to an AP article, service companies now account for eighty percent of the economy and all new jobs, and they consist of the health care; retail; utilities; and the financial industries.
Meanwhile, Bank of America will lay off 30,000 workers; National Grid; a utility company, reported lay offs of 1,200 in February of 2011, supposedly to reorganize and provide better service. Well, hurricane Irene proved that less employees will not provide better service but instead, higher profits for the company and greater difficulties and losses for the public.
An AP article reported in January 2011 that corporations have one trillion, and in July 2011 stated corporations are reluctant to spend the $1.9 trillion especially in the US, which would create jobs.
Rather than lending to entrepreneurs, banks instead choose to park it at the Federal Reserve, where it can’t create jobs.
An individual wrote a letter to the editor about his ability to create an LED company and hire ten people, but he was unable to create such a company due to the lack of funding.
Another entrepreneur was researching how to make oil from mold, as that’s how oil is made in the first place, but was finding it difficult to get his idea off the ground due to the lack of funding. A Mobil Oil gas station owner in St. Louis, who already owns 23 ‘profitable’ stations, every one was doing well, he’d been profitable for 30 years, could not secure a loan in spite of his collateral, to build another station because banks were withholding the funds to do so.
With corporations sitting on trillions; banks refusing to lend; entrepreneurs unable to secure funding; the federal government unable to spend along with state governments playing the game of which of their cohorts will get the biggest tax cuts, along with the largest reductions on worker’s rights, who’s left to create jobs? No one, We‘re left begging for jobs. Just the way they like it.
On August 4 it was reported that $2 billion had been spent on bullet proof vests whose inserts were faulty due to lack of proper testing. How many entrepreneurs could have been helped and how many jobs created with that government $2 billion? Just as the military is being given a false sense of security, the public is being lied to and lulled into a false sense of security, and the ’cure’ they say is to cut taxes and regulations on the wealthy, and reduce the government spending by cutting the regulators and inspectors, and that will create the jobs.
Hello!!! It takes money for job creation and supposedly we don’t have any. But there’s plenty of money to be wasted on military suppliers and contractors here and abroad.
