jQuery cross-browser html5 placeholder plugin

placeholder.js

$(function(){
	"use strict";
	if(!document.createElement('input').hasOwnProperty("placeholder")){
		var placeholderFocus = function(elem,evt){
			var placeholder = $(elem).attr('placeholder'),
				val = $(elem).val();

			if(evt === 'focus'){
				return function(){
					val = $(elem).val();
					if(placeholder ===  val){
						$(elem).val('');
					}		
				}
			}else{
				return function(){
					if($(elem).val() === ''){
						$(elem).val(placeholder);
					}		
				}
			}
		}
		
		$('input[type="text"], textarea').each(function(i,val){
			$(val).val($(val).attr('placeholder'));
			$(val).on({
				'focus':placeholderFocus(this,"focus"),
				'blur':placeholderFocus(this,"blur")
			});
		});

		$('form').submit(function(){
			$("[placeholder]", this).each(function(index, elem){
				$(elem).val('');
			});
		});
	}

})