Presidential Election 2016

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While theories based on intertemporal relationships between the labor-market dynamics and business growth are qualitatively consistent with long-term empirical and historical data, events of the last decade have threatened to debunk the almost century-old hypothesis on the subject.

The fluid relationship between business and labor in the United States, and for the whole world for that matter, is a subject that remains hazy and imprecise, even at the best of times. More so following the post-dot-com bubble era of the early 21st century and the 2007-09 depression, which saw numerous ancient, monolithic American firms crashing to the ground, and in the process, taking away the promised social welfare support and retirement benefits of its workers and their families.

The fall of Bethlehem Steel and Bethlehem Shipbuilding in 2001, in particular, illustrated the issue perfectly and brought the issue of labor and businesses into the forefront. With over 75,000 retirees on its pension roll, as opposed to only about 15,000 active employers, the industrial titan was handicapped in its battle against international rivals. It eventually crumbled in the face of falling steel prices, rising fuel costs, and the pressure to replace warehouses filled with old equipment and machineries. The 144 years-old manufacturing titan is now a subsidiary of Indian-owned AncelorMittal.

The fate that befell Bethlehem, once the symbol of the American manufacturing prowess, brought into question the effectiveness of the American private welfare concept against the more capitalistic industrial practices of its international rivals.

The Franklin Roosevelt-inspired New Deal private welfare concept, which has so successfully integrated itself into the national business model for the last 80 years, is now being aggressively challenged. Several central tenets of the concept - minimum wage, Social Security, pension, health care and labor unions - have suddenly developed an aura of decay, despite the fact that the United States has long been considered a welfare laggard among industrialized nations, while its unions' influence and political reach are relatively tiny compared to its contemporaries in other developed nations.

There are growing cries from within and outside of the business community that the private welfare concept is an antithesis of the traditional American business culture, and it is shackling the growth of national enterprises while creating a culture of dependency and entitlement among the populace. Even the most profitable sectors of the economy is struggling to provide iron-clad economic security and welfare support for its employers, while still remaining competitive.

On the flip side, proponents of the New Deal legacy believe that socially responsible businesses are one of the distinguishing features of a moral America. Private welfare relieves the federal government of the onerous and expensive task of providing a socioeconomic security net for the majority of the American workforce, while ensuring that private enterprises maintain a balance between profitability and social responsibility. Instances of worker exploitation and abuse, seen so frequently in most of the world's emerging markets, are a relatively rare occurrence in the country, a testimony to the success of the morally and ethically sound employment practices of American enterprises.

Related Issues:
Minimum Wage
Trade Issues



2012 Republican Presidential Nominee
Former Governor of Massachusetts

Mitt Romney

Presidential Candidate Mitt Romney

Romney Position on Business and Labor

• Mitt Romney voiced his protest against a labor bill known as The Employee Free Choice Act that would make it easier for unions to organize describing it as a dangerous legislation saying that it would have a negative impact on the nation's ability to compete globally and would also dampen the scope of new businesses.

• Mitt Romney suggested that welfare recipients should go to work immediately. He suggested doing away with capital gains taxes for those firms that invest in inner city enterprise zones also advocated tax credits for hiring poor residents of those areas.

• He stands for writing off a lot of capital expenditures of business firms to induce them to buy more so that it will have the effect of other companies hiring more people thus generating more jobs.

• He believes a cut in Corporate Taxes will have a significant impact over time. It can stimulate the economy, create jobs and encourage foreign investment.

• He said that the American worker could be richer by $9000 a year by opening up the market to American goods and services. The workers can sell the products they manufacture around the world thus raking in more income.

• He is of the opinion that it is the businessmen and not politicians who should negotiate trade with foreigners so that patents, designs and technology etc are adequately protected.

• He encouraged Trade and commerce with Asian countries saying that it will only strengthen the Us economy and lead to further growth.

More on Romney  




Declared 2012 Republican Presidential Candidate
U.S. Representative from the State of Texas

Ron Paul

Presidential Candidate Ron Paul

Paul Position on Business and Labor

• Ron Paul believes that inflation is caused by big business’ demand for easy money.

• We would not let shareholders vote on executive compensation.

• We should replace illegal export tax breaks with $140B in new breaks.

He would overhaul bankruptcy laws to require at least partial debt payment.

• He thinks labor should have the right to organize but there should be no specific benefits for unions.

• He thinks that the minimum wage limits opportunities.

• He believes that unemployment benefits should stay at 39 weeks and that extending them encourages people to remain jobless.

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Declared 2012 Republican Presidential Candidate

Matt Snyder

Presidential Candidate Matt Snyder

Snyder Position on Business and Labor

"Fair Tax would be best. A 50% reduction in the corporate tax rate is the minimum act we can initiate to help those who create jobs in America. "

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Declared 2012 Republican Presidential Candidate

Vern Wuensche

Presidential Candidate Vern Wuensche

Wuensche Position on Business and Labor

• Vern Wuensche believes that we should increase jobs by reducing taxes in all forms and reduce regulation to support small business.

• Wuensche believes that we should eliminate lobbying by all government officials.

• He believes that citizen and government workers should be under the same laws.

• He believes that our prisons should require prisoners to work to acquire new job skills in producing products to reduce their cost to the state.

• He believes that collective bargaining by government employees should be abolished.

• He believes that all employees should be allowed the right to work without being a union member.

• He opposes card check legislation favoring unions.

• He believes that union members should be allowed to give or withhold consent for the expenditure of their dues to any party.

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