An important role of government in a free capitalistic economy is to provide a consistent, supportive environment encouraging risk-taking that provides a flow of educated employees, a consistency of available raw materials, coordinated but only the most necessary regulation, reasonable taxation, and a strong financial system.

Here's what happens when government doesn't do it's job. What's not said by the executives interviewed in this article is that the cash they have on hand will be invested for profit-making opportunities. It's just that such investment may not be here in the U.S.

http://online.wsj.com/article/SB1000...LEFTTopStories

because of our anti-business corporate tax code. The US taxes corporate profits at 35%, the highest tax rate in the world and then taxes repatriated profits at 35% as well. No other country penalizes corporations for bringing profits back home by anywhere near this figure. Unless and until our tax code is revised to be less hostile to businesses here in the US, corporate executives have no choice but to put new business outside of the United States if they are to fulfill their legally binding fiduciary responsibilities.

We can do something about the tax code in order to make it as attractive to create new jobs in the United States as it is in other countries around the world or we can continue to demagogue the issue. The choice is clear - more jobs or more BS; change corporate tax rates to be competitive in the world market or continue to lose jobs.

Originally Posted by BBQMan

because of our anti-business corporate tax code. The US taxes corporate profits at 35%, the highest tax rate in the world and then taxes repatriated profits at 35% as well. No other country penalizes corporations for bringing profits back home by anywhere near this figure. Unless and until our tax code is revised to be less hostile to businesses here in the US, corporate executives have no choice but to put new business outside of the United States if they are to fulfill their legally binding fiduciary responsibilities.

We can do something about the tax code in order to make it as attractive to create new jobs in the United States as it is in other countries around the world or we can continue to demagogue the issue. The choice is clear - more jobs or more BS; change corporate tax rates to be competitive in the world market or continue to lose jobs.

If I understood the "grand bargain" being considered by various parties on both sides before the watered down version finally got approved, a corporate tax rate reduction was to have been included. I believe it was to have been financed with a rework of the tax code, a flattening of the personal marginal rates, elimination of the loopholes and lobby-caused tax benefits, plus an increase on the personal taxes of the wealthiest 1-2% of Americans.

Now we're stuck with a deal where the Bush tax cuts can expire, which politically will almost certainly will be permitted, a piddly $915 billion in spending cuts to occur three years from now, and relaince on a super committee who no one believes will reach any consensus on what will be done.

Whoever was responsible for killing the grand bargain didn't do the country any favors.

Originally Posted by Villages Kahuna

If I understood the "grand bargain" being considered by various parties on both sides before the watered down version finally got approved, a corporate tax rate reduction was to have been included. I believe it was to have been financed with a rework of the tax code, a flattening of the personal marginal rates, elimination of the loopholes and lobby-caused tax benefits, plus an increase on the personal taxes of the wealthiest 1-2% of Americans.

Now we're stuck with a deal where the Bush tax cuts can expire, which politically will almost certainly will be permitted, a piddly $915 billion in spending cuts to occur three years from now, and relaince on a super committee who no one believes will reach any consensus on what will be done.

Whoever was responsible for killing the grand bargain didn't do the country any favors.

No one can kill that which does not exist. The 'Grand Bargain' was as mythical as the unicorn. Neither has ever been sighted. The closest this Bargain came to reality was a speech by the President that was long on rhetoric and totally without specifics. We deserved a clearly spelled budget from the President and his Congressional supporters but to date, none has been put forward.

Before I forget I do want to thank the tea party crew for costing me $16,000 so far. Way to go. Glad you got what you wanted.older people will have to work longer, less jobs for the grads. "the full consequence of default or even the sreious prospect of default by the U.S. are impossible to predict and awesome to contemplate. Denigration of the full faith and credit of the U.S. would have substantial effects on the domestic financial markets and the value of the dollar." Ronald Reagan......yes even Reagan knew better.

The House voted and passed the bill. It was Obama and his democratic senators who dropped the ball. Cannot you see that? Oh, by the way, I lost more then $16,000.

The bill passed by the house had nothing to do with the debt limit debate.