Doug’s proposed measures will also impact a second critical mindset – one belonging to our primary job creators – entrepreneurs, investors, private corporations.
At present, our corporations possess approximately $2 trillion in cash or quick liquid assets; this is near 40 year high as ration to GDP. Their current mindset is:
Why invest in an extremely business hostile environment? We have to contend with Dodd Frank, ObamaCare, 40% increase in our debt last 2 ½ years, 12% US dollar decline, US support for Brazil oil drilling while disallowing ours in contempt of court, EPA implementation of Cap n Trade, and the most blatant – Government attempt, via NLRB, to mandate how and where our leading exporter (Boeing) can expand.
Two specific proposals – “cut, cap, balance” and the Fair Tax, if implemented will quickly change this mindset. The former will shift available resources from the wasteful public sector to the private. The latter’s 0% federal corporate tax will position US immediately as a haven for global venture capitalists, all while being revenue neutral, progressive via prebates to low income. Elimination of IRS and projected $430 billion annual savings to the economy, will also add finally again to a business friendly – I want to invest in the US mindset.
Ted Hruzd
