Why aren't companies hiring?

The Democratic Convention is in full swing and I'm not watching it.  Even though I'm a registered Democrat when casting my ballot I'm Independent, you know, those people Republicans try cater to but really don't like.  Both parties say they know how to create jobs.  Here's a little tidbit about why companies aren't hiring.  Of course this isn't news.  Any American with average intelligence should have figured this out a long time ago.  What we have is an employers economy, one in which employers make all of the rules.  If your productivity dips they'll can you and hire someone who keep up with the pace they demand.  As long as the money keeps piling up in their bank accounts nothing is going to change.  If they can get twice the work out of two employees why should they hire a third?  Jobs aren't being created because they aren't worth the expense.  All tax breaks do is put more money to their bottom line.  Oh, sure, at some point down the line they will hire that third employee, but not until it is absolutely necessary, not until they've worked their employees to the bone.  When that will be is anyone's guess.  One thing is certain, Wall Street is doing just fine with the unemployment rate as high as it is.  Recovery is going to continue to be slow and nothing is going to speed it up.