Tag Archives: Business

News

How Obama’s bold experimentation with the economy costs jobs

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Consider this column by George Will. (H/T ECM)

Excerpt:

At any time, some economic conditions would be better than others, but the more certainty about conditions the better. Today, investors and employers are certain that uncertainties are multiplying.

They are uncertain about when interest rates will rise, and by how much.

They do not know how badly the economy will be burdened by the expiration, approximately 200 days from now, of the Bush tax cuts on high earners — aka investors and employers. They know the costs of Obamacare will be higher than was advertised, but not how much higher. They do not know the potential costs of cap-and-trade and other energy policies.

They do not know if “card check” — abolition of the right of secret ballot elections in unionization decisions — will pass, or how much the economy will be injured by making unions more muscular. They do not know how the functioning of the financial sector will be altered and impeded by the many new regulatory rules and agencies created by the financial reform legislation.

The economy has become dependent on government stimulation of demand, and no one knows what will happen as the stimulus spending wanes.

Investors and employers are watching all of Obama’s bold experimentation with the economy patiently, and keeping their money in their wallets. Who can afford to hire more workers when the costs of running a business or making a profit on an investment goes up and up and up? When Obama is kicked out of office in 2012, and the economy settles down, then employers and investors will breathe a sigh of relief and hiring can resume.

Commentary

Ten things Obama did to discourage companies from hiring

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This article was written a week ago on Investors Business Daily, and it is still in the top five!

Below is my favorite of the ten.

Excerpt:

Patient Protection and Affordable Health Care Act of 2010 (ObamaCare).

According to the congressional Joint Committee on Taxation, ObamaCare will hike taxes an estimated $15.2 billion, and the middle class will get whacked. We’ve already seen health insurance premiums go up because of costly ObamaCare mandates, which means less money available for spending on other things.

Moreover, employer mandates, taxes and penalties will reduce funds available for private-sector hiring. The mandates, taxes and penalties kick in when an employer has more than 50 employees, and they apply to all employees, so one effect of the law is to discourage small businesses — which create most American jobs — from hiring more than 50 people.

If a business has 45 employees and it needs to hire eight more people for a total of 53 employees, but it doesn’t offer health insurance or its insurance plan doesn’t satisfy the latest ObamaCare regulations, hiring those eight additional people would entail a $2,000 penalty for each of the 53 employees — a total of $106,000!

Many other provisions are likely to have unintended consequences, as well. The 2.5% excise tax on high-tech companies that produce pacemakers, heart valves, stents, defibrillators and other medical devices that help improve the quality of life or save lives is an estimated $20 billion hit. Anything that increases the cost of doing business is bad for jobs.

A mandate, by the way, is when the government forces all insurance company plans to cover elective things like abortions. When insurance companies have to cover more politically correct lifestlye choices, the premiums that normal people pay go up to cover the weird stuff. Are you a normal person? Did your medical premiums go up, or did you lose medical coverage through your employer? If so, then thank Obama – he needed to make sure that all his favorite special interest groups (e.g. – Planned Parenthood) got their money.

Read the remaining nine here.

Commentary

How hard work and business ownership makes people conservative

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Well, here’s the story of one from the Washington Times.

Excerpt:

High school freshman Tim Scott could not afford Chick-fil-A sandwiches back in 1981, but the French fries were good and inexpensive. Eating those fries made him a success, a conservative and an odds-on favorite to be the next congressman from Charleston, S.C.

Mr. Scott has been garnering attention because he is a black Republican who won a primary over the son of the late one-time segregationist Sen. Strom Thurmond. South Carolina acquaintances, though, are coming out of the woodwork to say Mr. Scott bears watching not because he is black but because he’s the real deal: industrious, principled, consistent, thoughtful. In a word, authentic.

But to hear him tell it, it all began with the fries.

Mr. Scott’s parents were split – his father was in the Air Force in Colorado – and his mother, he said, worked two eight-hour shifts daily. “She was a nurse’s assistant cleaning up other people’s feces,” he said. “That’s nobody’s definition of fun.” Despite her example of hard work, though, his own schoolwork showed no signs of similar dedication. “I literally failed four subjects at once: world geography, civics, Spanish and English. Those last two subjects showed I wasn’t bilingual, I was bi-ignorant.”

Young Mr. Scott did, however, hold down a part-time job taking tickets at a movie theater. The Chick-fil-A was next door. He bought fries there regularly. The restaurant’s proprietor, a guy named John Moniz – a “Christian conservative white Republican, although I didn’t know it at the time,” Mr. Scott said – “just started recognizing me, and one day he came up and sat down next to me and started talking.”

I love this story. I’m a colored evangelical Protestant man. I was the only evangelical Christian and the only political conservative in my entire family. My Dad used to bring me to work ALL the time, even on weekends – and I would meet all his co-workers, drink coffee and play with his office supplies. My conversion started when I got my first paying job – programming UNIX shell scripts for a high-tech corporation while I was still a teenager – and that was my lowest paying job ever. One look at my pay check and I was through with the government and their lousy payroll taxes. I didn’t see them in my office helping me to debug and test –  so why did they deserve any of my money? I let my grades slide to keep working right through college (until grad school). I always valued working and saving and investing more than education. It’s the pattern you learn from watching your father work – the dignity of labor – the joy of independence – the ability to share with those in need. Work makes you a conservative.

You can friend Tim here on Facebook.

BONUS:

Marco Rubio responds to Democrat Harry Reid’s comments that no Hispanic person can be a Republican.

Marco Rubio is a Hispanic Republican who is about to win a federal Senate seat. I have been following him since his election announcement.