Wondering Why Things Are Not Getting Better?
Are you wondering why things aren’t improving, why you have that queasy feeling in your gut as you watch your fellow workers getting laid off. Are you losing sleep as you worry about what you will do if your position is the next to go?
The following column by Dick Morris may help you understand. Put yourself in the shoes of a business owner or CEO and see if you can relate.
OBAMA‘S WORST JOBS-KILLER
By DICK MORRIS & EILEEN MCGANN
Published in the New York Post on April 1, 2009
More than anything else, business needs a predictable environment if it is to create jobs. Changes in the regulatory environment and the tax code make it almost impossible for businesses to make investments.
Yet President Obama seems to ignore this reality. Each day’s news brings another bold and far-reaching proposal to change the fundamentals of the US economy. And each time he indulges his personal ideology with such a pronouncement, businesses all over the world cut back on their planned investment until the dust settles.
Most incredible was the fact that he chose the middle of a deep recession to announce a major tax-code overhaul.Stressing how far-reaching the changes might be, he appointed a commission headed by former Federal Reserve Chairman Paul Volcker to report back by early December on what the changes should be.
Assuming Obama will need several months to figure out which of its recommendations to adopt and Congress will take several more months to enact its own version, the announcement effectively leaves business up in the air for at least 12 more months — uncertain of the tax consequences of any potential investment.
Who in their right mind is going to invest significantly in new plant, equipment, services, personnel or anything else? How can you consider doing so, when you can’t know how the tax code might penalize you?
And, in the same week, Obama announced that he’d seek to regulate nonbank institutions, including those he deems to be “too big to fail” lest their collapse injure the economy. Which businesses will be included? Nobody knows.
Read the rest of the column: OBAMA’S WORST JOBS-KILLER
Tags: business owner, dick morris, federal reserve chairman, investments, JOBS-KILLER, obama, paul volcker, recession, tax consequences
Print This Post
Posted in
