Must Cut Expenses
I’ve heard much about unemployment and the administration’s inability to reduce the 8.2 percent rate, which is really a minimum of 11 percent.
The only solution is take the shackles off of private businesses, which are inundated with rules, regulations and taxes. More government jobs will sink us; only more jobs in the private sector will provide us with a lifeline to avoid financial disaster.
Unfortunately, the present administration doesn’t have a clue how to save our country. We must cut expenses. Our government is bloated with excesses and waste. Do we have the guts to cut our expenses and unnecessary government programs, or would we rather attend a wake over the country that was? Study the plight of Greece and Spain.
Secondly, we must continue our present tax structure for a minimum of five years. Increasing any tax as we approach a new recession is insanity. Hiring more government workers only exacerbates the problem; we need to grow private businesses.
Third, we are overloaded with rules and regulations at a cost of billions. These rules and regs are created by people with no business experience and cause business owners to maintain the status quo and cease hiring new employees.
Finally, U.S. companies doing business overseas in our global economy pay corporate taxes to the countries in which they operate. Why would they bring these profits home and pay a second corporate tax to the country with the highest corporate tax rate? Bring this money home tax-free and unleash businesses to invest this money in our country and create jobs.
I wish the president had taken economics 101. The price of his incompetence is spread over every American and is leading our country into bankruptcy. It’s impossible to spend or tax your way into prosperity.
Monroe M. Diefendorf
More like this story