The reason is simple: Would-be employers who thought they had two years after the extension of Bush tax cuts have learned that Obama plans to run a campaign against the “rich” for 2012. IOW, they will be villified, and if Obama wins those tax cuts will NOT be extended again if he wins with the cuts being the centerpiece of his campaign.
Then there is Obamacare, gross over-spending by the fed, enormous inflation on the horizon, and every indication that manufacturing and housing will be sluggish to no growth.
Obama has attacked job creators again, and they are not stupid. They will sit on their money until the future is a bit less depressing.
“The reason is simple: Would-be employers who thought they had two years after the extension of Bush tax cuts have learned that Obama plans to run a campaign against the “rich” for 2012. IOW, they will be villified, and if Obama wins those tax cuts will NOT be extended again if he wins with the cuts being the centerpiece of his campaign”
That’s why we need permanent tax cuts. People can only make rational decisions if they can plan for the long term.