Obama acceptance speech reflected on tax cuts, job creation

September 9, 2012

Last week’s Democratic National Convention carried this message to businesses: We want to help you create more jobs in the U.S.

In accepting his party’s nomination, President Obama touted his administration’s tax cuts for small businesses that hire and retain employees, and emphasized his work with business leaders on bringing jobs back to the U.S. — “not because our workers make less pay, but because we make better products,” he said. He was referring to an “insourcing forum” the White House hosted in January with companies that moved jobs back to the U.S.

Obama highlighted the growth in manufacturing jobs and spoke of the need to continue on this track by rewarding businesses that hire U.S. workers.

“After a decade of decline, this country created over half a million manufacturing jobs in the last two and a half years,” Obama said. “And now you have a choice: We can give more tax breaks to corporations that ship jobs overseas, or we can start rewarding companies that open new plants and train new workers and create new jobs here.”

Friday’s jobs report from the Labor Department indicated that job creation is still lagging. While the unemployment rate dropped from 8.3 percent to 8.1 percent in August, it was only because more than 300,000 people dropped out of the workforce.

Catherine Ho covers law and lobbying for Capital Business, which she joined in 2011. She was previously a reporter at the Daily Journal in Los Angeles, covering LA civil courts and labor and employment law.
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