Main Street's cash crunch: Several in Congress are already on board with the idea of tax credits for hiring. Senators Charles Schumer, D-N.Y., and Orrin Hatch, R-Utah, unveiled their plan, which has some similarities to Obama's, in an op-ed on Wednesday.
But some business owners say the idea puts the cart before the horse.
"I need money before I hire people, not after I hire them," said Jimmie Hughes, the owner of Grand America in Richardson, Texas. Hughes' 15-person company sells supplies for a range of businesses, including funeral homes and police departments.
The company's sales are growing, and Hughes would like to hire more people. But while his receivables ledger is at a record high, his cash flow is suffering. Hit by the recession, his customers are taking longer than ever to pay their bills. Hughes, who started the company at home as a sole proprietor in 2003, has maxed out half a dozen credit cards trying to keep pace with the growth.
"It all comes down to cash -- how much cash do I have to apply to what I owe my vendors?" Hughes said. His staffing decisions will be based on "my cash-flow situation, not a tax credit."
Jeff Moss, the owner of Pancho's Border Grill in Great Neck on Long Island, N.Y., had a similar reaction.
"In my line of work, the restaurant business, jobs are going to be created or deleted as a direct result of customer traffic," Moss said. "It is not like we are a Fortune 500 company, where we are going to be adding hundreds of jobs and those credits are going to be adding up. We are a small business. If we are adding one employee, the effect on the bottom line is going to be negligible."
What Moss really needs is for the economy to pick up so his customers will increase their discretionary spending. Two weeks ago, he shut down his second restaurant in another, less affluent area of Long Island.
"When the economy tanked, traffic dropped," Moss said. "That was 30 people who lost their jobs, and that was a bitter pill to swallow."
NYS already has this.....NOTHING NEW UNDER THE SUN FOLKS.....just an old podium puck......where I work we have some of those folks.....and I would like to get rid of some of them.......
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
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