Posted on 02/16/2017 6:02:28 AM PST by Sean_Anthony
We need tax reform to make it easier to invest in American businesses, American products and American workers. It’s time for Congress to usher in a new era of American prosperity
“As Factory Jobs Disappear, Ohio Town Has Few Options.”
That headline from the New York Times has become an all-too-familiar staple of American journalism, a bitter reminder of how globalization has decimated the manufacturing sector in America’s heartland.
Ohio alone lost 160,000 manufacturing jobs over a three-year period, thanks largely to low-cost imports. The Times story describes the heartache this economic upheaval sent through the city of Canton, shuttering factories, spurring hundreds of layoffs and forcing local businesses to declare bankruptcy. One 54-year-old woman who lost her job at a local steel mill told the Times, “We don’t have too much light at the end of the tunnel.”
Eliminate Federal Income Tax on Businesses - take it to zero.
Businesses already pay significant taxes in the form of fees, payroll deducts, sales taxes, property taxes, etc., etc. , etc.
Eliminate all economic distortions and perverse incentive caused by federal tax policy.
watch job creation explode
Every regulation, as bad as many of them are, has vocal, wealthy supporters who benefit because of it. They lobby for their regulation, sometimes seemingly against their own interest. The Coke company, for example, lobbied hard for a test for rodent contamination which added to the cost of each can and bottle of product. But the cost of that test drove several small companies out of business because it added much more to their costs, thus making them uncompetitive. Foreign countries lobby as well. Expect China to spend millions to maintain the status quo.
I am not saying it can’t be done, but rolling back regulations is like trying to hold back the incoming tide. In most cases, the thing to do is entirely get rid of the regulating agency. The EPA, for example, was established to clean up the air. They succeeded and then became a regulating monster controlling even pond water on your private property.
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