Middle class home in Massachusetts
The unemployment rate hovers at 9.1 percent. This means that nearly 14 millions are out of work and 2.2 have stopped looking for work, taking themselves out of the market. There is little indication that American companies will begin hiring in significant numbers anytime soon, despite the fact that the economy is producing as much as it was before the recession hit. In fact, many American companies have shifted their focus on growth in emerging markets overseas. Should businesses be doing more to get Americans back to work?
Reuters Global Editor-at-Large Chrystia Freeland says that the reality is that U.S. companies have found that they don't need to worry about the middle class in order to stay in business.
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Comments [3]
I am interested to understand how the supplyside stategy to give businesses more tax breaks (money) is going to fire up the economy if they are already sitting on record amounts of cash (2 trillion) and not using it?
The role of business is to make money. Why should large businesses risk expanding and hiring this year if they know this administration will shake them down to the core with taxes and regulations next year?
Love the way everyone Orwells the language when discussing these issues. Repeat after me, class: "I will not say 'rich'! I will say 'affluent'". In today's world, boys and girls, it is very important not to annoy the affluent!
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