Too Small To Matter
By Mitch Berg
I’ve got two teenagers. Both are looking for work, more or less; Bun washes dishes at a restaurant one day a week, so she’s got sometihng, but it’s very, very hard to find anything much better. Zam isn’t even having that much luck.
In other words, it’s as bad as when I was 17 and 18.
The problem is, by the time I was 21jobs were everywhere, and the economy was on puree. I had more jobs that I knew what to do with by my junior year of college.
That’s just not going to happen with this recession. White Castle’s CEO reports that just one provision in Obamacare is going to utterly gut low-income hiring:
Jamie Richardson, a White Castle executive, says, “We’ve been working on this internally from a number of different perspectives. One [provision] that has [us] the most concerned is the $3,000 penalty that kicks in when an employee’s portion of a premium exceeds 9.5% of Household Income.” Richardson elaborates, “In present form, this provision alone would lead to approximate increased costs equal to over 55% of what we earn annually in net income (based on [our] past 4-year average). Effectively cutting our net income in half would have [a] devastating impact on the business — cutting future expansion and more job creation at least in half. Sadly, it makes it difficult to justify growing where jobs are needed most — in lower income areas.” And that’s all from just a single provision in a 2,700-page act.
I love this next quote:
The Obama administration’s economic policy seems to involve dividing businesses into two categories: too big to fail, and too little to matter.
Alternately: “too big to fail” and “future employees or wards of government”.
May 18th, 2010 at 11:08 am
The Obama admin’s concern for small business begins and ends with how much money they can squeeze out of it.
Can’t wait for Cap & Tax to kick in and really kill it.
May 18th, 2010 at 11:33 am
My sons employer has stated they will no longer be able to hire part time employees due to the up coming mandates. He was trying to get some friends a job as a dishwasher or counter worker at the small resteraunt where he works.
May 18th, 2010 at 12:05 pm
[…] This post was mentioned on Twitter by John Davey. John Davey said: Too Big or Too Small it's always about pitting classes against each other with these guys. http://is.gd/cePzk via @mitchpberg #hcr #fb #hhrs […]
May 18th, 2010 at 1:18 pm
All this will certainly help cultivate a work ethic in our teenagers, won’t it? After all, it works so very well in Europe!
/sarc
May 18th, 2010 at 2:52 pm
Coming soon to your town the $10 gut bomb! Next we’ll being paying health care coverage and minimu wage for the kid to mow the lawn!! How much do you think that “living wage” will be?.
May 18th, 2010 at 6:02 pm
And all these illegals running around aren’t helping employment opportunities for citizens, either.
May 18th, 2010 at 6:10 pm
I get the impression that the President and his advisors believe they are the stuck in some time warp where their well intentioned plans have no downsides and only “the rich” are responsible for paying when the bill comes due.
If Jerry Sterner were to come back from the dead and write a sequel to “Other People’s Money”, Larry the Liquidator would not be a corporate raider, but an Obamacrat sent up from D.C. to make sure New England Wire & Cables paltry return on investment was cut by 4/5’s to insure that the people of Rhode Island got extra sprinkles on their trans-fat-free Dunkin’ Donuts courtesy of Uncle Barry.
May 18th, 2010 at 9:26 pm
Jeebus, I better get a paid position in the Emmer campaign (HINT HINT) otherwise my job prospects blow this summer. At least I got my soccer ref job.
May 18th, 2010 at 10:04 pm
[…] Shot in the Dark » Blog Archive » Too Small To Matter Quote:"The Obama administration’s economic policy seems to involve dividing businesses into two categories: too big to fail, and too little to matter. […]
May 19th, 2010 at 6:48 pm
Oh, and good luck with an internship too…