Obama and Business

[mikesilvia]

Interesting article. The Capitalists are getting worried!

[OnePimpTiger]

Good article.

It's just common sense: you raise the cost to do business and businesses will move to where it costs less. Business is about profit, making money...Obama doesn't seem to understand that. He wants to change the tax code so foreign assets of American corporations can be taxed, saying that brings money back to America. Why would companies put up with that? America already has the 2nd highest corporate tax rate among developed countries...we should be trying to convince them to stay in America instead of giving them more incentive to leave.

And it's obvious in the market. People always ask why stuff from China is cheaper...because Chinese corporations don't have the same level of taxes, of unions, of regulations, etc. Why are companies moving to China, India, etc? Because they don't have the same level of taxes, of unions, of regulations, etc.

How would you feel if someone came along and told you gravity was a myth? Despite all the proof and all the studies and simple common sense, it doesn't work and we should ignore it. That's basically what Obama is doing...despite all the proof and all the studies and simple common sense telling us that higher taxes, regulation, and general cost of business drives corporations away, he's telling us that we need to do all of those things to keep corporations here.