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View Diary: Tax Cuts for Millionaires does not Create Jobs (20 comments)

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  •  On Wall Street companies are rewarded (2+ / 0-)
    Recommended by:
    jamess, Eric Nelson

    for cutting their work force, regardless of how much profit the company is making.  This is well known by everyone - yet Republicans claim that higher profits lead to hiring.

    An illusion can never be destroyed directly... SK.

    by Thomas Twinnings on Mon Nov 12, 2012 at 08:27:38 AM PST

    •  it's the Bain model (2+ / 0-)
      Recommended by:
      shaharazade, Eric Nelson

      for "success."

      Getting rid of those "Greedy workers"
      is their main profit center.

      Nevermind that the Workers, actually built the business.

      Isn't it time to fix the Filibuster?
      -- Here's how.

      by jamess on Mon Nov 12, 2012 at 08:32:13 AM PST

      [ Parent ]

    •  Not true (0+ / 0-)

      It depends on why staffing is reduced.

      For example, if a company is seen as having been over-staffed for its level of sales for a while, and then the company reduces staffing, the stock price will likely go up.

      If a company has been growing well for a while, but it then announces a layoff, the stock price will go down, as the market will see the layoff as a decline in sales and profitability.

      Employment is based on the idea that the level of employment is profitable (over some time scale).

      This is no different than when someone hires a contractor to paint their house.  Very few homeowners will choose the contractor based on who will have the largest crew at her house.  

      The most important way to protect the environment is not to have more than one child.

      by nextstep on Mon Nov 12, 2012 at 10:25:18 AM PST

      [ Parent ]

    •  Nick Hanauer debunks the job creator myth.. (2+ / 0-)
      Recommended by:
      jamess, PSzymeczek

      ..from a rich entrepreneurs point of view
      "It's a small jump from job creator to THE. ..creator" said Nick Hanauer who debunks the job creator myth from a rich entrepreneurs point of view
      From Digby

      “This language was not chosen by accident and it’s only honest to admit that when somebody like me calls himself a job creator, we’re not just describing how the economy works, but more particularly we’re making a claim on status and priviledges we deserve” - Nick Hanauer

      Thx jamess - just had to post this again

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