Thursday, October 6, 2011
To All Job Creators: Get To Work! (Part 1)
Some Republican leaders won't stop claiming that the "job creators" are willing and able to create all the jobs we need, and all that's required is to cut their taxes and remove "uncertainty" so they can get started.
That would be a load off my mind if it weren't such a load of you-know-what....
Corporations generally are sitting on mountains of cash, which generally is earning an investment return that is insanely close to zero.
What are the "job creators" waiting for?
Note: Some of my talking points here are drawn from this CNN Money piece:
See CNNMoney story by Charles Riley on Oct. 3, 2011
American corporations (excluding financial institutions) essentially have stuffed about $2 trillion under the mattress, the largest percentage of corporate assets held as cash in roughly the last 50 years. This amazing cash hoard does nothing to increase shareholder value, it does nothing to create jobs. This pile of cash creates only a national shame. President Obama and Democrats should call the Republicans on it, loudly, daily. News media and cable news talking heads should be asking every CEO: why are you sitting on that cash?
Wall Street Journal on corporate cash reserves
I propose these $2,000,000,000,000 Questions:
Can we avoid suspecting that the leaders of some or many American corporations are deliberately holding back on investing their cash and hiring workers and re-energizing the economy?
Are they sabotaging our economic recovery with the aim of derailing President Obama's bid for re-election?
Are they screwing you and me and America so the Republican candidate has a better shot in 2012?
Don't you think it's about time for you to do something about it?
Think about doing something--anything--to achieve your sense of what's right.
And, by the way, if you're a job creator, get busy.