Saturday, February 5, 2011

I think he got hit with the irony stick

Yesterday, President Obama delivered his weekly address, expanding on the themes of his State of the Union address.

He stressed the need to have competitive business environment.  In fact, in his opinion:
"In today's global, competitive economy, the best jobs and newest industries will take root in countries with the most skilled workers, the strongest commitment to research and technology and the fastest ways to move people, goods and information,"
 To help foster that environment, he has plans.  What are those plans?
He talked about federal tax credits and financing programs that are helping companies boost their bottom lines and hire workers.
So, let's see if I understand this correctly.  You want to raise taxes on high-income individuals, a number of whom are actually businesses, thus increasing taxes on businesses.  You want to remove tax incentive programs that are already in place for the "wrong" kinds of businesses, thus worsening their bottom line and making it more difficult to higher workers.  Yet you then want to turn around and give businesses federal tax credits?

Instead of a redistribution scheme, why not leave that money with the companies in the first place?  Why not reduce the corporate and individual tax rates so that companies have more of their own money available to them, without having to rely on a government handout.  Oh, and I thought that profits were bad.  After all, companies shouldn't make a decent earning so that they can expand, and hire more people.  At least, that's what I remember being the lesson after all the talk about windfall profit taxes.

Stop picking winners and losers.  Foster an open business environment unencumbered with excessive taxes and regulations.  Let the market work, and I think you'd be surprised at the results.  Or then again, maybe you wouldn't be surprised.  And that says even more right there, doesn't it?

1 comment:

  1. It's that whole trying to talk out of BOTH sides of his mouth thing... problem is, neither side is connected to the brain!