What creates revenue for the Federal Government?
When you tax or overburden the small business community with
regulations you stifle the creation of jobs which in turn lowers the income
through employment tax. Picking up the
slack through additional tax on those who create jobs further depletes
investment and again lowers revenue.
When the government lowers the burden on investors and small
business jobs make a comeback and it increases the revenue collected by the
government. Kennedy and Reagan both proved
this by lowering taxes and creating jobs during their respective
administrations.
As of today we have no sign that this administration understands
this principle lesson. There are over 20,000
new regulations coming out of Washington just for Obama-Care alone. This is creating an over burden situation on
the job creators which lowers the possibility of an increased employment
picture. Small to medium businesses
create 75 to 80% of the jobs in America yet there is no small business package
that is readily available to help them through these hard times. The Green Energy program that has been
supported by this administration has been wrought with corruption and failure.
They can tax us out of capitalism and create a European semi
socialist style of economy without firing a shot and that’s exactly what they
are doing.
3 comments:
I'm an electrical contractor in Anaheim, if I could afford to move I would. The regulations are not just federal this state is enough to drive you crazy. I laid off my two qualified electricians that have been with me for years because I had no work for them. I do all the jobs myself just to keep the doors open. My wife was laid off 7 months ago from a retail store where she has worked for over 9 years. Yeh I understand your theory I just wish Obama did.
Jim W
What's new today at the White House?
The Obama administration has begun coercing banks to make home loans to a wider range of applicants --not just those with good credit. The administration believes too many Americans are being left out of the housing market's recovery. The Justice Dept. said publicly the banks shouldn't worry about taking on the additional credit risk since they can use the federal programs available to protect lenders in the case of borrower defaults (this translates, of course, to more taxes for us patsies who put on the show).
The contradictory official rhetoric is, they don't want banks to lend irresponsibly yet make more loans to those the banks consider poor risks. One official said, "Borrowers who have had their credit scores impacted by the recession are finding it hard to get loans." It seems banks are currently NOT allowing people to borrow more than they can afford, and are no longer making loans to those borrowers who are less likely to pay these loans back. Gee, can you believe that?
To recap: The govt. says, "Make loans to the unworthy." Then they add, "But don't do it irresponsibly." Haven't we heard this before? Oh, and by the way, there are still some 1-1/2 million homes in some stage of foreclosure. Think someone in the White House is back to smoking pot? Unbelievable!
Ron,
Nevada
How do we ever recover when we keep making the same mistakes?
Bob
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