This is all George Bush’s fault, or is it?

On Friday, President Obama met with the Republicans and among the topics of course, was job losses over the last year.  His contention was that only the job losses from March on, could be linked to him.  The problem with that is businesses look ahead when deciding layoffs and hirings.  Once it became clear that Obama was going to be elected, businesses began planning and reacting to the future policy of the Obama administration.  If you remember, he spoke about raising capital gains taxes, that the responsibility of businesses was to employ people(not to make a profit?),  increased unionization and regulation, and finally raising taxes on those making >$250,000.  Business people, or people in general, are not stupid, they will change their behavior in reaction to elections and new laws.  It is my contention that many of the layoffs were in preparation for the coming storm of all these things.  I’m betting that if Obama got elected on across the board tax cuts, lowering or suspending capital gains taxes, lower business taxes and less government spending, the layoffs would have tapered off far faster and it would have been more of  normal recession.  What do you think?  I’d love to hear from you.

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