We’re now entering that part of the campaign when Democrats belittle people’s concern over raising taxes during a precarious recovery. One indication that such concern is well-placed is the recent amount of new acquisitions and mergers:

U.S. companies are flush with cash, and profits. Yet they are still afraid of the weak economy, so they are not hiring workers or building new facilities. Instead, they are taking advantage of depressed prices and are growing by buying other businesses.