The country is going to a socialized system. We are going to see the largest expansion of the role of government that we have ever seen. Over the next 2 years (at a minimum), the power hungry socialists in Congress are going to make great strides in taking control of different sectors. This is bad news for business and, in turn, the economy.
Obama is intent on spending his way out of this recession. Well, that is not going to happen. What is more likely is that the laws passed by Congress will send us into a deep recession. Yesterday saw the passing of the first piece of legislature which will ensure this end.
The Lily Ledbetter Fair Pay Act was passed in the House. (See here) This bill exoands the recourse that people have to take against companies they feel treated them unfairly. At the core is "equal pay for equal work". It is a noble effort however one that only favors the trial attorneys; a favorite supporter of the existing Congress. Nevertheless, this opens the door for frivolous lawsuits. Companies are going to spend valuable resources (time and money) defending themselves from such charges.
What is troubling is the act dictates that companies prove they acted appropriately and pay equal wages. This goes against the premise of our judicial system where one is innocent until proven guilty. Under our belief system, it is up to the plaintiff to prove he/she was mistreated. Not anymore. Now, with the socialization of this country, we are going to see that concept reversed. And, your elected leaders are driving the train.
How does this affect the average business? I will say that most will never see a lawsuit as a result of this act. However, the ones that do will spend sums of money on defense rather than expansion of business. Where this does come into play is when you consider the restraints already place on business, especially small business. There is too much regulation as it stands now. We are going to see more constraints put upon these entities until they die. I believe this is the mindset of those in power. This will guarantee they will keep the power.
The "Corrupt Moron From Chicago-elect" states that we will spend our way out of this. That very statement proves how out of touch he really is. Congress, along with his backing, is going to create an environment that is so unfriendly to business. Get ready for a long road ahead. You have your elected leaders to thank for that.
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