Hillarynomics: Businesses don’t create jobs

posted at 10:01 am on October 25, 2014 by Ed Morrissey

If you have a job right now, don’t thank the company that hired you or the investors that created the company. According to Hillary Clinton, they didn’t build that. At first arguing that hiking the minimum wage would not cost jobs, the presumed Democratic presidential frontrunner then extended those thoughts in a very peculiar way:

At a Democratic rally in Massachusetts, Hillary Clinton’s attempt to attack “trickle-down economics,” resulted in a spectacularly odd statement. …

She went on to state that businesses and corporations are not the job creators of America. “Don’t let anybody tell you that it’s corporations and businesses that create jobs,” the former Secretary of State said.

It’s actually a total non-sequitur. “Trickle-down economics” has to do with expanding investment, which actually worked spectacularly in the 1980s, but it’s not a theory on which the entire concept of job creation relies. One can criticize “trickle-down economics” without offering the entirely vapid argument that corporations and businesses don’t create jobs. They don’t get created by book tours, after all. The tens of millions that Hillary Clinton collects from publishers and speeches pay for a handful of staff jobs at the Clinton Foundation, perhaps, but that same cash turned into investment would create jobs that actually produce goods and services in a market, which then create secondary jobs, and so on.

Besides, Hillary’s argument here is entirely divorced from reality and actual data. The miminum-wage bill for which Hillary Clinton voted passed in 2007 and took effect in stages, beginning that summer. In June 2007, the Household Survey of the BLS showed that the US economy had 146.063 million jobs in June 2007, just before the increase took place. Last month’s data showed that the US economy had 146.6 million jobs — an increase of less than 500,000 in over 7 years, not “millions of jobs” as Hillary claims here. In fact, the 146.6 million is the highest it’s ever gotten since the passage of that law. In the same period, the civilian workforce participation rate has gone from 66% to 62.7%. On a population basis, there are a lot fewer people working after the last minimum wage hike, not more, and wages are actually down, not up.

Compare this to the “trickle-down” era of the Reagan presidency. When Reagan took office in January 1981, the US economy had 99.995 million jobs and the participation rate was 63.9%. By the end of his presidency in January 1989, the US economy had grown more than 16 million jobs (116.708 million total) and the participation rate had leaped to 66.5%. That covers nearly the same length of time since the last minimum wage hike (96 months vs 89 months), but both include about five years of technical economic recovery.

Obviously there were other factors in play here, so lets focus on something more directly affected by minimum-wage hikes — teen unemployment, which is where minimum-wage hikes have the most impact. When Reagan took office, teen unemployment was 19.1%, but it dropped to 16.4% by the end of his presidency. In June 2007, it was at a similar level, 16.3%. Today it’s 20%, and has been bouncing in 2014 between 19% and 21%. Don’t forget that these figures are more than five years into a supposed recovery.

It’s not easy to get economics this wrong in such a short space of time. At some point, Democrats are going to have to come to grips with the fact that their front-runner is not just a lousy campaigner, but perhaps just as incompetent as the President from which they’re all attempting to run away at the moment.


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Bmore

Schadenfreude on October 25, 2014 at 5:04 PM

Dumbsh*t Marxist.

Meople on October 25, 2014 at 5:11 PM

Obviously jobs come from the job stork.*

*All job storks are provided by the US government. Please wait 3-6 months for your job stork to arrive, after 30 days of processing and inspection of your job stork application. If your job stork does not show up after 12 months, sorry, but you have to go to the back of the queue at the federal government’s very easy-to-use and reliable job stork website, http://www.jobstorksrhere4errbody.gov, and try again.

deepelemblues on October 25, 2014 at 5:24 PM

And it was only months ago, Chelsea Clinton, who probably also thinks that companies and corporations don’t create jobs said that money was a really dumb thing to work for…since she has already got $15 million.

http://www.inquisitr.com/1328063/chelsea-clinton-doesnt-care-about-money-has-15-million-fortune-already/

Businesses don’t create jobs FOUNDATIONS do. And then you can “hire” your daughter so she will have a job that works with the new baby.

Fleuries on October 25, 2014 at 5:28 PM

Name we one potential nominee of the Stupid Party that will call Shrillary a blithering idiot.

corona79 on October 25, 2014 at 5:29 PM

Hillary is just giving some red meat to the the leftist fringe.

CW on October 25, 2014 at 5:43 PM

Hillary is just giving some red meat to the the leftist fringe.

CW on October 25, 2014 at 5:43 PM

They’re all vegans.

Star Bird on October 25, 2014 at 5:54 PM

Jeez. Major idiotic.

jake49 on October 25, 2014 at 5:55 PM

Ed, Dr. Sowell’ s words about “trickle down” are very important: http://jewishworldreview.com/cols/sowell010714.php3#.VEuXOWDD_mw

Zetterson on October 25, 2014 at 6:03 PM

Up is down and down is up. The Democratic Party mantra.

alamb on October 25, 2014 at 6:24 PM

Yeah, let’s hand the keys to the person who hasn’t driven herself since forever. Morons.

Christien on October 25, 2014 at 6:25 PM

Shrillary sounds just like our dear, dumb leader! Same idea anyway.

tomshup on October 25, 2014 at 6:49 PM

LOL. Hilary is feeling heat from Elizabeth Warren.

ctmom on October 25, 2014 at 6:56 PM


Hillary Clinton, Hillarynomics is a heavy-duty subject
that need to be discussed in-depth in the future.

Now, however, we need ponder the
LEGACY PROBLEMS that Bill CLINTON
bestowed unto you.

Bill CLINTON’s LEGACY PROBLEMS entails these:

Bill CLINTON’s War on Women
Bill CLINTON’s War on Brooksley Born

Bill CLINTON’s Affordable Housing CRUSADE
Bill CLINTON’s Unleashing Wall Street RISK-Taking

______________________________________

Bill CLINTON’s Affordable Housing CRUSADE
caused the HOUSING BUBBLE to Inflate greatly.

The Bill CLINTON-era ROOTS of the FINANCIAL CRISIS

http://www.aei.org/article/economics/the-clinton-era-roots-of-the-financial-crisis/
______________________________________

BILL CLINTON’s WAR against Brooksley Born
………………………………………………………

Long before the ECONOMIC MELTDOWN, the story of
one WOMAN who tried to WARN about
the THREAT to the FINANCIAL SYSTEM.

Before the TOXIC assets POISONED the Economy,
she WARNED of their DANGER.

And that MADE her the ENEMY of a very,
very large number of people.

She would fight an EPIC BATTLE with
one of the most POWERFUL men in Washington.

It got pretty NASTY pretty quickly.

A story from INSIDE the highest levels
of the — Bill CLINTON — administration.

They were all part of a VERY CONCERTED EFFORT
to SHUT HER UP and to SHUT HER DOWN.

And they did, in fact,
SHUT HER UP and SHUT HER DOWN.

______________________________________

Bill CLINTON — King of Modern CRONY CAPITALISM
Bob Rubin — CEO Wall Street FATCAT
………………………………………………………

LEADERS of Bill CLINTON’s FINANCIAL Team:
Bob Rubin and Alan Greenspan and Larry Summers.

They beat up Brooksley Born and
kick her out from her job;
and they build up a FRANKENSTEIN Wall Street.
………………………………………………………

Unleasing Wall Street RISK TAKING —
IMPLEMENTING TOO STUPID TO SUCCEED POLICIES
for Wall Street ( FINANCIAL INDUSTRY )

TEAM BILL CLINTON build up
a FRANKENSTEIN Wall Street —
TOO BIG TO FAIL — TOO BIG TO JAIL
TOO STUPID TO SUCCEED

ECONOMIC CRASH & FINANCIAL CRISIS
of 2008 was inevitable.

………………………………………………………
BILL CLINTON’s WAR against Brooksley Born
Alan Greenspan, Brooksley Born, and The Warning.

http://www.PBS.org/wgbh/pages/frontline/warning/etc/script.html

………………………………………………………
www. PBS.org/wgbh/pages/frontline/warning
______________________________________

The War on Women — Bill CLINTON Style:
………………………………………………………
Claire McCaskill said on NBC’s Meet the Press:
former President Bill Clinton was “a great leader,

but I don’t want my daughter near him.”
………………………………………………………

Bill Clinton’s long history of SEXUAL VIOLENCE against women:

Women have been charging Bill Clinton
with SEXUAL ASSAULT since his days as
a Rhodes Scholar at Oxford 30 years ago.
………………………………………………………

Ann Coulter calls Bill CLINTON a ‘Forcible RAPIST’

Ann Coulter: Dems Against RAPE
Unless a CLINTON or a Kennedy Does It
………………………………………………………

http://albertpeia.com/oxfordassault.htm
______________________________________

Wall Street’s DELUSION

www. CBSNews.com/2102-18560_162-6292458.html
………………………………………………………

Wall Street built a DOOMSDAY MACHINE
Turning Garbage into GOLD

http: //upstart.bizjournals.com/news-markets/national-news/portfolio/2008/11/11/The-End-of-Wall-Streets-Boom.html?page=all
_____________________________________

It’s The Debt, Stupid

we are placing a tremendous obligation
on future generations that will
unfairly limit the prosperity
they can enjoy tomorrow
in order to finance our consumption today.

www. zerohedge.com/news/2014-09-14/its-debt-stupid
_____________________________________

Q&A: Michael Lewis
INSIDE the COLLAPSE

www. youtube.com/watch?v=x387_k963yY
______________________________________

Why the MELTDOWN should have Surprised No One
Peter Schiff
www. youtube.com/watch?v=EgMclXX5msc
_____________________________________

This is a Recipe for a Crash
………………………………………………………

The Feds have tried to combat a DEBT problem
by ISSUING MORE DEBT.
………………………………………………………

Both people and governments
have lived beyond their means
by taking on DEBT they cannot repay.

America is deeply INSOLVENT

www. ZeroHEDGE.com/news/2014-10-15/recipe-crash
______________________________________

www. ZeroHEDGE.com/news/2014-09-30/if-something-rattles-ponzi-scheme-life-america-will-change-overnight
………………………………………………………

www. ZeroHEDGE.com

www. YouTUBE.com/BoomBustRT

www. RealClearPOLITICS.com
………………………………………………………

Global HAWK on October 25, 2014 at 8:13 PM

You can lead a liberal to reality but you can’t make them think.

Oxymoron on October 25, 2014 at 8:17 PM

Yeah govt does everything that is good.

Akzed on October 25, 2014 at 10:16 PM

Hillary Barack Obama Clinton.

I wish I shared your optimism, Ed. Too many idiots believe this crap.

22044 on October 25, 2014 at 10:31 AM

And on that note…who cares about these so-called gaffs? Hilary doesn’t. The low-infos aren’t swayed.

Jackalope on October 25, 2014 at 10:31 PM

The leftists and democrats screwed up when they got too anxious and let Obama beat Hillary in 08.
You see Hillary was supposed to be pres until 2016 and Obama would lead the Marxists to the utopia from 2016-2024……however Obama’s ego won the day and pushed Hillary to the side…..

What difference at this point does it make????

redguy on October 26, 2014 at 1:20 AM

Akzed on October 25, 2014 at 10:16 PM

Bastards.

LegendHasIt on October 26, 2014 at 2:29 AM

With the Americans With No Abilities Act (“ANAA”), President Barack Obama and the Democratic Senate are considering sweeping legislation that will provide new benefits for many more Americans. The Americans With No Abilities Act is being hailed as a major legislative goal by advocates of the millions of Americans who lack any real skills or ambition.

“Roughly 50 percent of Americans do not possess the competence and drive necessary to carve out a meaningful role for themselves in society,” said California Sen. Barbara Boxer. “We can no longer stand by and allow People of Inability (POI) to be ridiculed and passed over. With this legislation, employers will no longer be able to grant special favors to a small group of workers, simply because they have some idea of what they are doing.”

In a Capitol Hill press conference, House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid pointed to the success of the U.S. Postal Service, which has a long-standing policy of providing opportunity without regard to performance.

At the state government level, the Department of Motor Vehicles also has an excellent record of hiring Persons with No Ability (63 percent). Under the Americans With No Abilities Act, more than 25 million mid-level positions will be created with important-sounding titles, but little real responsibility, thus providing an illusory sense of purpose and performance. Mandatory non-performance-based raises and promotions will be given to guarantee upward mobility for even the most unremarkable employees. The legislation provides substantial tax breaks to corporations that promote a significant number of Persons of Inability (POI) into middle-management positions, and give a tax credit to small and medium-sized businesses that agree to hire one clueless worker for every two talented hires.

Finally, the Americans With No Abilities Act contains tough new measures to make it more difficult to discriminate against the non-abled, banning, for example, discriminatory interview questions such as, “Do you have any skills or experience that relate to this job?” “As a non-abled person, I can’t be expected to keep up with people who have something going for them,” said Mary Lou Gertz, who lost her position as a lug-nut twister at the GM plant in Flint , Mich. , due to her inability to remember righty tighty, lefty loosey. “This new law should be real good for people like me. I’ll finally have job security.”

With the passage of this bill, Gertz and millions of other untalented citizens will finally see a light at the end of the tunnel. Said Sen. Dick Durbin,II, “As a senator with no abilities, I believe the same privileges that elected officials enjoy ought to be extended to every American with no abilities. It is our duty as lawmakers to provide each and every American citizen, regardless of his or her inadequacy, with some sort of space to take up in this great nation and a good salary for doing so.”

JetBlast on October 26, 2014 at 6:59 AM

With Hillary’s comment it’s difficult to believe people want her as President. Her true intelligence comes shining before you.

mixplix on October 26, 2014 at 7:14 AM

The libs answer to facts get in the way is lalalalalalalala. You could rub their noses in the truth for a year and they would still crap on it.

Kissmygrits on October 26, 2014 at 8:41 AM

“I’m so proud of our country. In 2008 and 2012, we showed that Dr. Martin Luther King had it right,” Udall said. “Which is that in America, at our best, we judge people by the content of their color -” Udall’s crowd began to groan

J_Crater on October 26, 2014 at 9:44 AM

Job Creation is the province of politicos like her husband Bubba.
He creates an ever-widening demand for spin-meisters, fixers, and lawyers, to deal with his ‘eruptions’.

Another Drew on October 26, 2014 at 9:46 AM

Hellary is a pathetic pandering marxist witch. Throw in incompetence at state, and her Benghazi lies, and she is disqualified.

Whitey Ford on October 26, 2014 at 11:43 AM

Remember the “Obamateurism of the Day”? Those were the days.

LashRambo on October 25, 2014 at 12:15 PM

Yes, they were. Lately, it would be the Obamateurism of the Hour.

Unfortunately, I think by now it’s the ObamaPro(tm) version. Pure Commie.

Who is John Galt on October 26, 2014 at 12:16 PM

Our next president ladies and gentlemen. Get use to it because if the current can win reelection then Hillary is a shoe in.

bgibbs1000 on October 25, 2014 at 11:27 AM

Yep. Plan accordingly. Wymyn will push Canckles back into the White House. Plan accordingly (save your rope, tar, and feathers leftover from Zero’s Amnesty Riot).

Who is John Galt on October 26, 2014 at 12:30 PM

You can lead a liberal to reality but you can’t make them think.

Oxymoron on October 25, 2014 at 8:17 PM

That is very true of liberals. However, it’s not true of those Progressives leading us to Fascism, Marxism, communism and slavery-to-the-state-ism. They know EXACTLY what they are doing, have thought out their plan to the unth degree, and will not be deterred. They will plop down on their keisters in blind wonderment when at last their means fail to reach their end.

Even then they will not realize the futility of their erroneous means and fallacious ideals, they will blame conservatives for their failures, and at last they will be correct. Conservatives and free enterprise will rise above Fascism, Marxism, communism and slavery-to-the-state-ism because it works and will endure.

Woody

woodcdi on October 26, 2014 at 12:42 PM

Hillary’s either a blatant Commie or a freaking idiot!

MCGIRV on October 26, 2014 at 2:02 PM

“I’m so proud of our country. In 2008 and 2012, we showed that Dr. Martin Luther King had it right,” Udall said. “Which is that in America, at our best, we judge people by the content of their color -” Udall’s crowd began to groan

J_Crater on October 26, 2014 at 9:44 AM

Isn’t it interesting when they accidentally speak the truth?

Athos on October 26, 2014 at 2:18 PM

MCGIRV on October 26, 2014 at 2:02 PM

She’s an Alinsky acolyte, so she’s both.

Although to be fair, she’s more a fascist than a commie.

Athos on October 26, 2014 at 2:19 PM

Hilary’s statement would be true in a Fascist, Marxist, communist, slave-to-the-state dictatorship. I guess she is boning up for some future speech she can foresee. If left up to Obama at al, that future lies close at hand.

Woody

woodcdi on October 26, 2014 at 4:08 PM

Another thought: I wonder how much campaign money Hillary expects to garner from Corporations …

I’d be mighty suspicious of any corporations or execs that supported her.

Woody

woodcdi on October 26, 2014 at 4:14 PM

she’s scared of warren.

uatu1878 on October 26, 2014 at 5:40 PM

I haven’t looked at ALL the previous comments, but in case you missed it, per http://freebeacon.com/blog/2016-watch-rick-perry-outdraws-hillary-clinton-in-north-carolina/

Texas Governor Rick Perry and professional public speaker Hillary Clinton both held rallies in North Carolina over the past few days for their respective party’s Senate candidate in what is shaping up to be a close race that has already attracted its fair share of 2016 contenders.

Embarrassingly for Clinton, the crowd she drew at a Kay Hagan rally in Charlotte (population 800,000) was less than half the size of what Perry was able to attract in Smithfield (population 12,000) in support of Thom Tillis.

In fact, the Clinton-Hagan rally, which took place Saturday at the Charlotte Convention Center, appeared to be the second most popular event at the venue that day, behind Buzz Fest, a pep rally to celebrate the return of the Charlotte Hornets, the greatest franchise in NBA history.

Hagan currently leads Tillis by less than two percent in the Real Clear Politics polling average.

GinaC on October 26, 2014 at 6:09 PM

JetBlast on October 26, 2014 at 6:59 AM

Nicely done.

LegendHasIt on October 27, 2014 at 3:23 AM

This gaff will return to haunt her IF she decides to run. Better off staying home being a grandmother.

Amazingoly on October 27, 2014 at 9:36 AM

Simple question: If the minimum wage doesn’t hurt job creation, why make the minimum wage so little?

chrisbolts on October 27, 2014 at 9:57 AM

Just for grins, Hillary, would you educate us, on just who DOES create jobs?

kjatexas on October 27, 2014 at 10:28 AM

Obama has been proven to be ignorant as dirt regarding most things he spoke of on the election trail in 2008….and in 2012. Makes sense that they continue their trend of nominating ignorant, failed, 60’s radical, failed, inexperienced Socialists/Communists ruler-wanna-bes for President.

easyt65 on October 27, 2014 at 11:51 AM

Scariest part of her comment was the reaction from the crowd! Folks can be heard loudly agreeing with her statement…

At EVERY Dem campaign speech we need to have folks there with big signs with the simple question ‘ HOW SO?’ written in large hard to miss lettering…. force them to explain how business don;t create jobs….how raising the min wage wont impact hiring from small bussiness… simple two word question that cuts through the politcal BS adn makes folks think about what is being said.

Von Kleist on October 27, 2014 at 12:33 PM

Any elitist who supports this hag deserves oblivion.

She and Bill made most all their dough from private enterprise.

The rest they were paid in taxes, incl, most of their free housing.

Most all those taxes came from businesses, incl. those of the gov’t employees, who’re sustained by private taxes.

Go to Hell Hillary, you scumhag of the world. She didn’t believe a word she said, and how she said it…does the beached decaying whale think that she’s cute?

Schadenfreude on October 27, 2014 at 12:59 PM

Simple question: If the minimum wage doesn’t hurt job creation, why make the minimum wage so little?

chrisbolts on October 27, 2014 at 9:57 AM

I think countries in Africa should simply mandate huge minimum wages, then there won’t be poverty in Africa anymore.

corkie on October 27, 2014 at 6:46 PM

There are several iterations of this on Youtube.

It w/b so cool if someone with the talent would make a video where Hillary walks back, with her walk back “corporations don’t create jobs…corporate taxes” bullchit. Should go viral btw. now and 2016.

Schadenfreude on October 28, 2014 at 10:58 AM

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