We must have leadership in America and elsewhere in the developed world in order to improve the global economy.
There are a lot of strong corporations in America and around the world which would love to start investing heavily in jobs and other ways. But the combination of heavy taxation and ridiculous regulations make growth investments minimal. Corporations, particularly United States corporations, generally have strong balance sheets and could jump into action IF the government tends to its tax policy; simplifying and lowering, simplifying and lowering regulations and tending to entitlements and Obama care.
It’s not something that is insolvable. A bipartisan commission should be appointed with the sole mission of reducing, simplifying and making understandable ALL federal regulations. Additionally, a bipartisan committee of Congress should address taxation to simplify, lower and make understandable that mammoth of ridiculous complexity.We have already had a commission on entitlements. It’s time to enact into law their basic conclusions. More than that it is long overdue and that and the above other issues are putting a continuing burden on our economy, especially as to job creation.
Our world needs vibrant businesses to employ our people, engender ownership rewards and security, serve our customs well, pay reasonable taxes to support tightly-controlled governments and their vital services only; and contribute to the communities and charities around the world in wise ways.
The Obama Administration, Congress and the Federal Reserve System have hurt the job creation of our country by not acting as I have recommended above. Bringing long-term federal debt to a short-term basis and doing the same thing in Freddie Mack and Fannie May is down-right dangerous to our economy as well as our entire planet.
Why does the United States have the highest corporate tax rate among developed countries? It doesn’t make sense. Global corporations can keep their foreign earnings outside our country along with their ability to provide jobs, dividends and buy back shares of their stock; not to mention building new facilities in our country—something that is inhibited by difficult and complex regulations.