NEW YORK (CNNMoney) – In yet another alarm bell of a weakening U.S. economy, the job market took a disappointing turn in May.
The economy gained a mere 54,000 jobs in the month, a significant slowdown from 232,000 jobs added to payrolls in April, the government reported Friday.
and the GOP's answer..LOWER taxes more for the so-called job creators so just maybe they'll start hiring people. I work in the airline industry, we are supposed to be making money left and right but are hiring NOBODY. CEO's are making record profits once again, so are certain corporations but they aren't hiring. When will we be able to see that tax cuts for these job creators only puts more money in their pockets and if they do create jobs they are minimum wage ones. And the GOP wants to end minimum wage as we know it as well. Truth is the GOP WANTS the job market to stay the way it is because it is about the only thing they can use to defeat Obama in 2012......forget about them running on a create jobs platform in 2010 though.
If companies are not hiring but they are sitting on tons of capital I say remove the tax extension for the rich. This farce has gone on too long. They got a break under the premise that they would be hiring but they are not doing it. Take away that incentive unless they come to the table with solid promises to hire domestically. Tie it in with penalties if they do not meet their targets by next summer.
End of story.