"Economic data continues to be mixed. The latest jobs report continues to be weak, depending on who spins it. Non-farm payrolls fell by 54,000 in August, however, that included 114,000 September 13, 2010 temporary census jobs lost, so you could say the private sector gained 67,000. A positive number, to be sure, but it's not near enough to indicate a robust recovery. It is still the uncertainties holding the recovery back. Calvin Coolidge once said, “The business of America is business.” Our corporate tax rate at 35% is the second highest in the free world after Japan. Congress could help by reducing that rate to at least 20%."
"CEOs speak: Paul Otellini, CEO of Intel which employs 80,000 people, worries that America will not be the center of the innovation universe much longer. Otellini said, “I can tell you definitively that it costs $1 billion more per factory for me to build, equip, and operate a semiconductor manufacturing facility in the U.S.” He further stated that 90% of the added cost is due to taxes and regulations that other countries don’t have. CEO David Speer of Illinois Tool Works, whose company employs 60,000 workers, recently stated, “I could borrow $2 billion tomorrow for 3-1/2%, but what am I going to do with it?” And Ivan Seidenberg, CEO of Verizon, said, “Tax hikes, regulations and constant policy shifts harm our ability to gain private sector jobs in the US” (Investor’s Business Daily, 8.26.10).
These people know business and our policy makers should listen."
1 month ago
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1 comment:
Why would they listen to businessmen? They're just out to make themselves rich, and besides which the politicians know better than anyone what to do. They said so themselves.
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