Jobs aren't being created because businesses are afraid to invest when the government has expanded their regulatory footprint considerably.
Here's a great transcript from a conference call by a CEO to shareholders. The CEO is a Democrat, and voted for Obama:
I believe in Las Vegas. I think its best days are ahead of it. But I'm afraid to do anything in the current political environment in the United States. You watch television and see what's going on on this debt ceiling issue. And what I consider to be a total lack of leadership from the President and nothing's going to get fixed until the President himself steps up and wrangles both parties in Congress. But everybody is so political, so focused on holding their job for the next year that the discussion in Washington is nauseating.
And I'm saying it bluntly, that this administration is the greatest wet blanket to business, and progress and job creation in my lifetime. And I can prove it and I could spend the next 3 hours giving you examples of all of us in this market place that are frightened to death about all the new regulations, our healthcare costs escalate, regulations coming from left and right. A President that seems, that keeps using that word redistribution. Well, my customers and the companies that provide the vitality for the hospitality and restaurant industry, in the United States of America, they are frightened of this administration.And it makes you slow down and not invest your money. Everybody complains about how much money is on the side in America.
You bet and until we change the tempo and the conversation from Washington, it's not going to change. And those of us who have business opportunities and the capital to do it are going to sit in fear of the President. And a lot of people don't want to say that. They'll say, God, don't be attacking Obama. Well, this is Obama's deal and it's Obama that's responsible for this fear in America.
Read more: http://www.businessinsider.com/wynn-ceo-steve-wynn-conference-call-transcript-obama-2011-7#ixzz1SVyYgyXR
Tax cuts won't create jobs when the government is doing all it can do to discourage private investment. Remove regulations and reform those that must remain to ensure that businesses have every incentive possible to hire, and compete against businesses overseas.
Furthermore, you assume that Republicans are innocent in regards to regulations - they are not. The Republicans passed things like the Patriot Act (which meant that transferring significant amounts of monies were required to be reviewed by specific agencies) and Medicare Part D. Both sides are implicit in this, although Obama's administration has done far more it seems.
Back from the dead, I'm afraid.
