I keep reading this and I'm still flummoxed.
I have text on its own layer. I know the correct layer is selected, because if I select a rectangle covering that text and hit DELETE, the text gets deleted.
But if I select the same rectangle and choose the blue arrow and try all manner of dragging, all that moves is the selection box. I can move that outline to my heart's content, but the text won't go anywhere. The same is true for part of an image if I select it on the background layer. And the same is true for the rotations that the selection seems to be dying to perform instead of moving anything.
I CAN stretch or compress the text wider or narrower or taller or shorter.