Across America, the other ninety-nine percent of us who aren't reaping huge financial benefits from the current economic arrangements are wondering publicly what it's going to take to get those job creators to use the tax breaks they enjoy to--well--create some jobs.
The editors of the DLOnline came up with a suggestion the other day in Here’s a way to juice economy:
Here’s a radical idea — instead on waiting for Uncle Sam to ride to the rescue, American private enterprise could help jump-start the economy itself.
Large companies are sitting on a mountain of cash. According to USA Today, non-financial companies in the S&P 500 stock index have $963 billion in cash.
They should give their employees across-the-board 10 percent salary increases. That would go a long ways towards helping the average worker regain the spending power they had in 2008, before the great recession resulted in several years of frozen wages. . .
. . .Average wages, adjusted for inflation, have fallen, while employees have to pay an increasing portion of their health care and retirement costs. The upshot, according to USA Today, is that workers have less money to spend.
One wonders why those like Gretchen Hoffman who supposedly favor private sector solutions haven't thought of this one. Instead, she rants about how the public sector needs to cut wages and benefits because the job creators are paying less, and that locked out sugar workers should just take their lumps.
Maybe putting some of those bargeloads of cash into employees' pockets instead of crying poor mouth all the time might do the trick.
Hanging on to those dollars like those poor souls profiled on Hoarders because someday, some way, the cash might be used to create jobs illustrates the problem with hoarding outlined in the popular show's opening credits:
Compulsive hoarding is a mental disorder marked by an obsessive need to acquire and keep things...
Photo: Too much to stash in a mattress.
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