Obama, Altmire, and the Tax-Hungry Democrats
Written by on July 26, 2010, 05:36 PM
Is there any doubt that the policies of President Obama, Jason Altmire and the Democrats have been a wet blanket on the economy? Prior to this downturn, the longest recession since World War II was sixteen months, with the average closer to six months. Here we are nearly three years into the current slump, twice the length of the previous worst case, and there is still little/no sign of a significant and sustainable rebound in economic activity and/or job creation. Why? Simple. Policies inhibiting business and virtually no clarity as to what this administration and Democrat-led congress might do next to further stifle growth. That is not an environment in which smart business people are eager to risk capital. In addition to what is happening at the national level, Pennsylvania has its own issues. PA has the second highest Corporate Net Income (CNI) tax in the country, and is one of the few states that require businesses to pay a Capital Stock and Franchise Tax (CSFT) in addition to the CNI. Rather than directing random earmarks to a handful of our tax-beleaguered companies, it would be more prudent to focus on improving the business/tax climate for all companies. That’s the only way we’ll be an attractive place for new and relocating businesses, and the only path to growing our base of well-paying jobs.
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Founder’s Corner
"If Congress can do whatever in their discretion can be done by money, and will promote the general welfare, the Government is no longer a limited one possessing enumerated powers, but an indefinite one subject to particular exceptions."
-James Madison
Remembering Reagan
"In this present crisis, government is not the solution to our problem; government is the problem."
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