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    The jobs lost during the Great Recession will largely not return due to gains in productivity and technology. Politicians cannot acknowledge this and instead argue about tax rates, but taxes have little correlation with employment levels. Many lost manufacturing jobs are gone permanently due to structural shifts in the economy, just as farms were replaced after the Great Depression. When economic plates shift during times of upheaval, there is no going back to the previous conditions.

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    First Source 1

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    Tim Seckler
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    The jobs lost during the Great Recession will largely not return due to gains in productivity and technology. Politicians cannot acknowledge this and instead argue about tax rates, but taxes have little correlation with employment levels. Many lost manufacturing jobs are gone permanently due to structural shifts in the economy, just as farms were replaced after the Great Depression. When economic plates shift during times of upheaval, there is no going back to the previous conditions.

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    The jobs lost during the Great Recession will largely not return due to gains in productivity and technology. Politicians cannot acknowledge this and instead argue about tax rates, but taxes have little correlation with employment levels. Many lost manufacturing jobs are gone permanently due to structural shifts in the economy, just as farms were replaced after the Great Depression. When economic plates shift during times of upheaval, there is no going back to the previous conditions.

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    Download as PDF, TXT or read online from Scribd
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    8 views1 page

    First Source 1

    Uploaded by

    Tim Seckler
    The jobs lost during the Great Recession will largely not return due to gains in productivity and technology. Politicians cannot acknowledge this and instead argue about tax rates, but taxes have little correlation with employment levels. Many lost manufacturing jobs are gone permanently due to structural shifts in the economy, just as farms were replaced after the Great Depression. When economic plates shift during times of upheaval, there is no going back to the previous conditions.

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    of 1

    What GOP & Obama Can't Say About Job Market - Forbes

    Page 1 of3

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    Forbes

    Kenneth Rapoza, Contributor


    Covering Brazil, Russia, India & China.

    INVESTING

    /12/08/2011

    2:44PM

    / 1,354

    views

    What GOP & Obama Can't Say About Job Market


    Washington political leaders can't say it, but the Oprah Winfrey of Main Street investing can. Wednesday night on the Joy Behar show, Suze Orman said that the .obs lost du . g the Great R .on that started in 2008 will - for the most part never come back. It's not just because the jobs are being moved to lower wage nations. It's mostly because of productivity gains. "Before the 2008, I had a secretary who booked all my travel arrangements and engagements. I had to let her go in the recession. But now I don't need her anymore. I can do it myself," she said, pushing her Suze bangs over her ear. Americans have become more roductive. Hiring managers know they can get 4f'c two for one. Where they cannot, technology will undercut the need for more workers. Cutting taxes on the so-called job creators isn't the answer. Class warfare is a good emotional drama for the 2012 campaign season, but there is ample evidence to suggest that there is no correlation between lo~r taxes and emplOYment. In the early 1990S, the U.S. government raised \ CY-' personal and corporate income tax rates and the country had around 5% unemployment. Brazil has some of the highest corporate tax rates in the world, and historically low unemployment over the last several years.
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    Michigan does not have a corporate income tax. But most of the automotive manufacturing jobs lost in Detroit are gone for good. Those jobs that remain or will come online in the years ahead won't come with the same pension benefits previous employees enjoyed. Cities like Detroit are the modern day C.u' 1<:\ &1 equivalent of the Oklahoma farm towns during the Great Depression. Then, C "",' like now, the U.S. economy underwent a structural shift in the job market. Like the tectonic activity caused by an earthquake, when the plates shift, there is no going back to where they were before. Here in Massachusetts, one of the three richest states in the country, the factory hubs of Bristol County have been turned into retirement homes. An

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