From my column today at Forbes. An excerpt:
A number of smart folks on the Left, who have never and would likely never do something so crass as actually participate in a productive enterprise, have argued that complaints about regime uncertainty by business people is all so much whining. The problem, they argue (not without some truth) is with demand -- if business people were being presented with profitable market growth, they would invest to capture it, irregardless of the President's personal disdain for business people.
And yes, given that scenario, they would likely invest. But would they hire?
Already, the true cost of an employee dwarfs what is on his or her paycheck. Bad employees are increasingly difficult to hire, as employees immediately run to the eager, waiting arms of an attorney when they are fired for cause. But if one doesn't fire a bad employee quickly, he or she is a walking liability time bomb, with my company liable for any boneheaded action an employee might engage in. With rising minimum wages, family and medical leave laws, an increasing number of protected groups who will sue over any bad outcome -- is it any wonder we have jobless recoveries?