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Corporations Can Show Their Patriotism By Hiring

Former President Bush was roundly derided a decade ago for  urging Americans traumatized by the September 11 attacks to go shopping. He  may, in fact, have been onto something.

Certainly,  shopping on its own is a facile and   inadequate response to a tragedy that required a new assessment of our  national security  procedures and how much of our revered American civil  liberties we  were willing to give up to achieve security—or perhaps, a sense  of  security. That conversation needs to continue, especially in the area of   civil liberties retrenchment.

But  Bush was right about something, and that is that ours is a  consumer-driven  economy. This is arguably a bad basis for a modern  economy; there is only so  much we can consume (the obesity epidemic is  only one sign of our  over-indulgence). And people were foolishly taking  out home equity loans on  wildly over-valued properties and then using  the money not to improve the  property (thus, theoretically, increasing  its value), but to buy other things.  This is not sensible. But the  reality is, our economy runs on people buying  things, and with the  economy in the state it’s in, people aren’t shopping  anymore. Since  people aren’t buying, companies aren’t creating jobs. Many  corporations  are making record profits and holding huge amounts of cash, but  they  don’t want to take on more workers because the demand is not there.

So,  here’s a 10-years-after tweak of Bush’s suggestion: if corporate  America wants  to shows its collective patriotism, its leaders should  hire someone. Hire even  a dozen people, if you run a large company, or  even one employee, if you own a  small business. Some public officials  are worried about raising taxes on the  wealthy, arguing that the  well-off are job creators. Well, create some jobs,  first, and that  argument will have more merit. And remember: taking on another  employee  isn’t a cash loss, ultimately, because it creates a new customer (and  a  taxpayer who won’t be getting unemployment  insurance anymore, either). If  shopping was the answer a decade ago,  hiring someone is the answer now. It’s  the patriotic thing to do.

 

By: Susan Milligan, U. S. News and World Report, September 12, 2011

September 12, 2011 - Posted by | Businesses, Class Warfare, Conservatives, Consumers, Corporations, Economic Recovery, Economy, GOP, Jobs, Labor, Middle Class, Mortgages, Politics, Public, Republicans, Right Wing, Taxes, Unemployed, Wealthy | , , , , , ,

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