Obama Chaos--Economy

February 12, 2009

How to Wreck the American Economy

By Steve McCann in American Thinker

Instead of creating a positive business environment in the United States, we are doing everything possible to become fully uncompetitive in the world market.

1) The corporate income tax (state and federal) is among the highest in the world.

2) Litigation and legal costs are unprecedented anywhere and yet the current administration passes and proposes more measures which will result in additional expenses from the filing of specious lawsuits.

3) The prospect of the "Union Card Check" bill passing is real and will result in placing even more financial and operational burdens on U.S. businesses.

4) U.S. corporations are subject to a myriad of existing and now more proposed environmental, employment, pension and financial reporting rules and regulations at the federal, state and local level.

5) The Obama administration, in it's few short weeks, has shown it's willingness to demonize business to achieve it's political objectives as well as mandate how these companies are to be run, what benefits they must provide and what wages they must pay to this or that group.

Faced with these prospects more United States based corporations are looking to move their operations overseas. At the same time foreign based companies are having second thoughts about opening facilities in the U.S. I am an owner of a company that works with various countries primarily in Africa to provide equipment and financing for major capital projects. We have an office in the United Kingdom and the U.S. Often we talk to suppliers worldwide that have plans to open new facilities. Within the past month one such company, looking to open a plant somewhere in North or Central America, has decided not to consider this country because of the political and economic climate. The new jobs created would have been 500+.

The Insane (Liberals) are in charge of the Asylum (Socialist America).

God bless (The Real) America!