I knew the right would jump on Hillary for saying corporations dont create jobs, but shes absolutely right. Businesses do not hire for no reason, nor do they hire simply because theyre flush with cash. Were that the case, wed be drowning in job vacancies. Businesses hire for one reason and one reason only: because consumer demand dictates that they hire. Our present economy is all the proof you need: Businesses on the whole are more profitable and more cash-rich than ever before, yet we still struggle with unemployment and underemployment. The reason: almost every dollar of income gained in the current recovery has gone straight to the top, while middle-class incomes have stagnated. Yet the middle class represents 70% of consumer demand, so when they feel strapped and are reluctant to spend, the economy as a whole is restrained. And so here we are, yet we continue to have trickle-down policies shoved at us, both overtly and covertly. Weve tried it for 30 years and it has failed in every way except to make the rich richer, which is why the rich keep buying politicians to keep it going. Time to try something new.
Posted on: Tue, 28 Oct 2014 15:25:37 +0000
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