Companies are hoarding a record amount of cash as fears of another Lehman-like credit crisis, weak demand and a lack of incentives from the Obama Administration cause chief executives to choose a negative real return on their money over hiring workers or building a new plant.Lower corporate tax rates! Cut payroll taxes! Let's make those corporations filthy rich so they can KEEP NOT HIRING PEOPLE.
The current members of the S&P 500 are sitting on about $800 billion in cash and cash equivalents, the most ever, according to data by Birinyi Associates, even as the unemployment rate has ticked back above 9 percent.
Also! I propose a vice tax on bootstraps!