OPINION:
The Obama administration talks about creating jobs through new training efforts and programs that may be positive, but it does not mention why growth is not what it could be.
U.S. companies and all for-profit corporate entities design their strategies and make their decisions to maximize profitability and competitiveness in their markets. Our tax policies sport the highest corporate tax rate in the world, and the method our tax code uses to deal with foreign profits encourages U.S. and international corporations to focus outside our borders and use accounting practices to keep overseas profits from the confiscatory U.S. tax rates.
Our government meddling in corporate decisions frustrates the desires and efforts of our corporations to expand domestically and create new jobs and wealth. An excellent example of this government meddling is the National Labor Relations Board’s intervention in the building of a new manufacturing facility in South Carolina by Boeing to meet the demand for its newest airliner. After long negotiations with South Carolina and the investment of millions of dollars in this process, the government has stepped in to protect its political allies. U.S. policies like this encourage businesses to look overseas for friendlier business environments. Jobs, production and tax revenues are lost by shortsighted, politically motivated actions such as these.
The disastrous and probably illegal actions to shut down our oil production facilities in the Gulf area is another example of how our government inhibits jobs and business growth and forces us to send even more U.S. dollars overseas to foreign oil producers.
The current administration promotes the interests of its supporters and punishes the interests of its enemies at the expense of the U.S. economy. Since big business is generally on the enemies list, it is no wonder the economy is anemic. Would you risk your wealth and family security to start a new small business in an atmosphere that plays favorites and can change directions on a dime?
The old saying, “Money goes where it’s treated best” is true domestically and internationally. Unless our government recognizes this fact, we will continue to struggle creating new jobs, with or without new training programs. The United States is not a friendly investment or business environment for domestic or international entities.
CHRISTOPHER S. MOODY
Gaithersburg
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