The words of Mitt Romney on the stump for his shot at the top seat of the nation, and all too true words. As the Jobs number for August came in flat which says for every new job created, there was one lost meaning folks no new jobs for the masses of people looking for work. Roll this downhill and it means less money the government receives in taxes and the more it has to pay out [in various benefits due to unemployment] which doesn’t take a Harvard Grad to figure out is bad news.
Yet along this theme Mitt wants to cut out or at least reduce taxes on foreign profits! Hallelujah someone is finally getting the message; we need to repatriate dollars back to this shore in order to create jobs! As for my democratic friends it works like this as when corporations (yes the devils incarnate) get a favorable break on taxes especially those from foreign profits, they will be incented to seek more and more of that business to bolster profits (yes “profits” are what corporations use to pay its workers). In turn this will mean more and more dollars will come back on shore from other countries who are sitting on our dollars which we spend with them. The causal effect is companies will need to hire more staff to meet demand and there will be more people who will pay tax and either directly or indirectly (via associated job growth) reduce the need for government hand outs. This would be a major win/win for the working American public who is in sore need of some good news.
Yet, This is in opposition to the current administrations belief of let’s take the easy way out and print more money, just let’s not call it that and instead call it Quantitative Easing (to make it even more confusing we will nick name it QE) so we can bamboozle the majority of the American people with nonsensical terms. As one thing to keep in mind is that everyone works for someone (assuming they are employed) so taxing the be-Jesus out of companies makes no sense at all. In fact we should be doing whatever we can to remove barriers from their path and the next would be SOX (Sarbanes Oxley) as that is the most worthless piece of legislation ever passed and both gentlemen should be rode out of Washington on rails for the harm they have brought to American business. Oh, you’re looking for proof are you, well look no further then the mortgage melt down as where was your precious SOX then to sound the alarm bells? Yea, I know like most other Americans who saw their savings and home value plummet, I’m paying the price too.
As it’s clear that 2012 is time for a change in America and not just in words but in actions as a message needs to be sent that it’s time for a kinder gentler world for American Corporations if America is to succeed as old words ring true as “What’s good for General Motors is good for the country“…