Comment Re:Brought to you by the campaign to re-elect.... (Score 1) 288
> It proves that if you can give a corporation tax breaks and throw off the shackles of regulation, they will do better and want to hire more people. Oh...wait.
I was actually doing an Excel thingy the other day, simply looking at how company profits actually relate to employment. This information is freely available from companies' annual reports. For example:
Woolworths Limited (annual reports) graph: http://i.imgur.com/iNagiLN.gif
For companies like Woolworths, whose operations are fairly labour-intensive, profits do relate to employment though, as you can see, profits rise far more quickly than employment does.
Then take Comm Bank (I'm Australian): (annual Reports) graph: http://i.imgur.com/w6orwfi.gif
For Comm Bank, profits rise confidently, however the effect on employment is comparatively modest. Employment even drops for a period. Over the long term, the relationship between profit and employment is minor.
From the few I looked at, profits of major companies rise far more sharply than does employment, and sometimes there is little relation at all. I imagine there is a closer relationship between profit and employment in small to medium businesses. IMO, large companies should be more highly regulated (also so they can't off-shore their tax) while small-medium businesses are the ones who should be encouraged more.