A time out on the Obama bashing. Time to analyze the mindless Republican talking points relating to job creation since we have a so-called "fragile economy". The Republicans demand that the government must provide incentives (tax credits and regulatory relief) to private industry so that they will have the financial resources to unleash America's entrepreneurial spirit that will result in job creation. Makes for excellent sound bytes.
Regretfully, this logic is highly simplistic and illogical too boot. The Republicans do not seem to equate the use of tax credits and regulatory relief as a form of welfare. Yes welfare. When you subsidize a business through tax credits that is a form of welfare. So if the Republicans seek to eliminate welfare for the poor, why is it acceptable to give businesses welfare?
In a sense this is a zero sum game. Reducing entitlements and welfare means that the recipients won't have the money to buy products/services. If these people do not have the money to buy, businesses will not have an incentive to hire people to produce products. So how will giving "welfare" to private enterprise promote job growth?
The basic problem with the economy today is lack of demand. This has been discussed on both CNBC and Fox News. Regretfully, this is one of those issues that has not yet reached the "critical mass" necessary to achieve national recognition. Too bad.
To continue, the Republicans assert that they want government to stay out of the private sector. Furthermore, that government programs should not be used to determine which private sector companies will be successful or not, and that government programs (overall) are wasteful. If the Republicans truly believed their own rhetoric and had an ethical foundation, they would be insisting that the private sector take the leadership role in resolving the employment situation. The Republicans have been silent. I guess this is one of those cases where it is easier to perpetually castigate the government for every conceivable ill then it is to accept accountability for implementing what you profess.
The problem of course is that the private sector is busy laying people off. If not laying people off, not hiring. A fact that the Republicans conveniently ignore. Clearly the private sector does not believe that they have a responsibility or an obligation to fix the national economy. So when will the Republicans look in the mirror and recognize their cognitive dissonance and then resolve their ethical lapses?
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