This year, Obama managed to impose more than 3,400 new (and unnecessary) regulations. He has managed to cost business more than 16 billion dollars per years, each of his six years in office, with no concept of what he is doing to the business community. But, since he is an academic, has has no love for business and no understanding as to what makes business work, and what deflates business production.
I used the words "unnecessary . . regulations" above. Understand that I do not believe this country really needs another regulation, not one. If I were president, I would place a moratorium on regulation, at least for my first term. I would work for Congressional supervision over the EPA and end its ability to function as a rogue agency.
While I am at it, I would dismantle the Department of Education, end funding for Public Radio, and sanction a presidential panel for the purpose of breathing new life into our inner cities and poorer rural areas, with a view to bringing in new business and industry and elevating elementary and secondary education to be competitive with the more well-to-do areas of our society.
But I digress. The point of this post is about Obama's insane regulatory imposition on business. It is no wonder that Business is hording money as a hedge against coming regulations and whatever is being done in the name of ObamaCare. You do know, that 20,000 pages have been added to that bill since March 23, 2010, right?
And our know-nothing Rogue Administrator continues to rain havoc on our nation. He is NOT fundamentally transforming anything. He is only making a mess of everything.
Trickle down fails again.
ReplyDeleteSupply-siders say tax cuts spur jobs and higher pay while tax hikes do the opposite. True? Kansas and California offer a good experiment. Two years ago, Kansas Governor Sam Brownback cut the state’s top income tax rate and eliminated taxes on many businesses. Meanwhile, tax rates were hiked in California: They went up about 30% on those making $500,000 or more, and the state sales tax rose to 7.5 percent, the nation’s highest.
So how have the two states done? From January 2013 through September 2014, the latest data, California grew jobs 3.4 times the rate of Kansas, and wages also grew faster in the golden state. California’s credit rating improved while Kansas’s credit rating dropped. Opponents of California’s tax hike predicted rich entrepreneurs would flee the state. They didn’t; they could do better remaining in rapidly-growing California. In fact, entrepreneurs have flooded into the state. Meanwhile, cuts in state spending weakened the Kansas economy.
Why not compare Wisconsin, Oregon, Ohio or Texas or Arizona? Like I have said before: "There is no alternative to trickle down." It is either trickle down from Central Planning and the welfare industry or from private sector Business and the job creators. Here in California, we lose a net of 100,000 people per year and a net of 9,000 jobs, per year. The Governor had to give Hollywood a huge TAX BREAK to keep them in the state. as to Corporate transfer, We lose somewhere around 150 corporate entities each year. The rich, typically, don't leave, but that is not because they like paying the highest tax rate in the nation. You seem to think the very opposite.
DeleteYour conclusion that from 2013 to 2014, entrepreneurs did not leave the state is kind of silly. They didn't leave, because they are already gone !! They have been leaving the state for a decade or more. The cabinet industry left the state years ago. We have no auto makers. I think Toyota has an assembly plant (no manufacturing) in the southern part of the state. We have the highest welfare population in the nation due to the fact that they have . . . . . . . . . . ahhhhh . . . . . . . . . . . no freaking jobs. We have no water in the Central Valley because the morons in San Fran are busy saving the Darter fish. The State is an Utopian Hell. And if the politicians ever repeal prop 13, property tax salvation, you will see a huge exodus, and it will be because of taxes.
I don't know about Kansas except that Brownback tried to fix the mess Sebelius made during her time, as governor, but his cuts have not had time to succeed. He was re-elected, btw. It took two years for the Reagan cuts to begin working, as well. .Sebelius was as effective as governor as she was at designing and implementing the ObamaCare "joke of all time" Website.