Friend lost his job today

[bestmapman]

A good friend of my son and myself lost his job today. He worked for a major hospital in the area and had worked for them for 7 years. He recently got a promotion to be the head of all the aquatic facilities in there system. This was for about 7 hospitals. He supervised several people I don't know the exact number but probably 50.

If anyone knows of any positions available it would be appreciated.

The reason he was given was the projected tax increases from the new administration.

I hope this is not a trend.

[malorn]

Originally Posted by bestmapman

A good friend of my son and myself lost his job today. He worked for a major hospital in the area and had worked for them for 7 years. He recently got a promotion to be the head of all the aquatic facilities in there system. This was for about 7 hospitals. He supervised several people I don't know the exact number but probably 50.

If anyone knows of any positions available it would be appreciated.

The reason he was given was the projected tax increases from the new administration.

I hope this is not a trend.

I think the tax reason was probably an excuse for cost-cutting. unfortunately I think the employment picture will get much cloudier before it gets better.

[viking31]

Originally Posted by malorn

I think the tax reason was probably an excuse for cost-cutting.

I don't.

Obama has pledged to increase taxes on most corporations with particularly harsh increases on large successful businesses. Coupled with certain sharp increases in the minimum wage (which also affects jobs that are not minimum wage too) this will surely force corporations to cut back on expenditures including payroll.

With higher taxes, mandated minimum wages, and as long as our shores are open to free trade to dozens of countries with cheap labor it will be difficult if not impossible for most corporations and most assuredly small businesses (such as "Joe the Plumber", portrayed as a villain by the Democrats, an individual who actually has the nerve to start an evil business venture and even, gulp, turn a profit) to grow and prosper.

Rick
#4 2006

[eagle33199]

Originally Posted by malorn

I think the tax reason was probably an excuse for cost-cutting. unfortunately I think the employment picture will get much cloudier before it gets better.

I completely agree with that... Increased taxes seem to make a good excuse, but they aren't law yet. They won't even be law Jan 20. Companies have a long while to figure out how they will handle any increased tax liability before that liability actually has an affect.

When a company is looking to increase profits, they have to do at least one of two things: Increase the top line, or decrease the bottom line. That is, they have to increase the amount of money they're bringing in from sales, or decrease their costs (either variable for fixed). Yeah, losing your job sucks, but i would be highly skeptical of someone who says they fired you because of a proposed increase in taxes.

[malorn]

Originally Posted by viking31

I don't.

Obama has pledged to increase taxes on most corporations with particularly harsh increases on large successful businesses. Coupled with certain sharp increases in the minimum wage (which also affects jobs that are not minimum wage too) this will surely force corporations to cut back on expenditures including payroll.

With higher taxes, mandated minimum wages, and as long as our shores are open to free trade to dozens of countries with cheap labor it will be difficult if not impossible for most corporations and most assuredly small businesses (such as "Joe the Plumber", portrayed as a villain by the Democrats, an individual who actually has the nerve to start an evil business venture and even, gulp, turn a profit) to grow and prosper.

Rick
#4 2006

I have tax concerns of my own because I probably fall into the category which will receive a tax hike(maybe not this year), but this country badly needs a jump start. I supported McCain in the election but I was in the minority. Obama is our President and together we need to figure a way out of this economic morass we are in. BO does not have all the answers but we need to have confidence he will surround himself with people that do.

By the way, I think that was GWB's biggest shortcoming he surrounded himself with too many big $ people and there were not enough opinions around to challenge the prevailling thought in his administration.

[SageBrush]

Deregulation, anybody ?

It cures all economic ills, you know.

[tripp]

Sorry to hear you mate lost his job. When one door closes, another one opens. It might take a while, but I'm sure some good will come of it.

[galaxee]

wow, and here i thought healthcare was one of the safer areas to work. i guess that's not entirely true. i have heard that hospital budgets are tightening.

guess it's a good time to be a student for the time being.

any tax changes won't take effect for quite some time- the new admin won't change taxes for 08, that's for sure. it sounds like an excuse to me.

[viking31]

Originally Posted by malorn

I have tax concerns of my own because I probably fall into the category which will receive a tax hike(maybe not this year), but this country badly needs a jump start. I supported McCain in the election but I was in the minority. Obama is our President and together we need to figure a way out of this economic morass we are in. BO does not have all the answers but we need to have confidence he will surround himself with people that do.

A jump start may be good but my version of a jump start is not to increase taxes but cut spending to preserve the taxes as is and to reenact the Bush tax cuts before they expire. Capital gains tax increases, individual tax increases, and especially corporate tax increase are sure ways to firmly depress consumer spending, business expansion, stock dividends (which encourage stock buys to expand companies), etc.

I truly believe the current economic situation we are in is a result of many believing stocks, real estate, and such could not and would not ever decrease much less earn less than 10% each and every year forever. The public built their retirement accounts and other investments on a house of cards. When the chips were called in, the foundation was not there. Was it the fault of current the administration? Perhaps, but only to the degree if one surmises the public is too stupid to manage their own investments and ignore the risks that downturns can and will always eventually happen. Regulation "forces" the public to invest into more conservative investments lessening the risk of sudden collapse but on the other hand limiting aggressive growth. The public has spoken and it is clear they wish the government to take a much more strong hand in their investments and such.

By the way, I think that was GWB's biggest shortcoming he surrounded himself with too many big $ people and there were not enough opinions around to challenge the prevailling thought in his administration.

Agree 100%. I believe if he quit pandering to all sides and stuck to a conservative fiscal policy, we would have a much more stable economy today. He wanted to have his cake and eat it too.

Rick
#4 2006

[qbee42]

Originally Posted by galaxee

<snip>
any tax changes won't take effect for quite some time- the new admin won't change taxes for 08, that's for sure. it sounds like an excuse to me.

Galaxee has this right. It's just an excuse. As for all of the political comments, take them to Fred's House of Politics.

Tom