I attended a business finance seminar through work yesterday, and it was an eye-opening experience. I’d not death with the higher functions of business finance, and learned a great deal in a short amount of time about how businesses tick.
It also gave me some insight into why our economy is foundering, and why it will continue to founder as long as anti-business interests in the White House, protectionist unions on the streets, and the serial ignorance of the Occupy movement are pushing for disastrous policies.
The company I work for is like many in this interconnected world, with it’s main offices in the United States and a string of emerging branch offices overseas. The corporate tax rate our company must pay here in the United States is a whopping 35%, the highest in the world. It’s a fact that “fair share” Obama and his goons in the unions and the Occupy movement like to downplay as they attempt to extort even more money out of American companies.
Thanks to the cost of doing business here, our company is barely getting by on U.S. business. Like many companies, our growth and profit is overseas, particularly in Asia. Because of our massive, socialist-driven corporate tax rate, the money we make overseas, stays overseas. We simply can’t afford to bring it home to create more jobs in America, as the Democrats would tax it to death. Like any public company, we have a responsibility to our investors, and it would be financially irresponsible to a legally actionable level for us to translate that money into American jobs.
We’re an American-headquartered company, and the Democrats have made it extremely difficult to justify hiring Americans and expanding domestically thanks to high taxes and draconian regulations.
But if you think it’s bad for big companies, it is death to small business.
While we have profit centers offshore and can grow as a company even if growth stagnates here, American small business does not have that option. They’re stuck under rules, regulation, and taxation designed to appease the lazy and corrupt at the expense of the hard-working and productive.
The emerging anti-business system is horribly broken, just not in the way that the Marxists in our midst envision.