Close, but no cigar. Here are some ideas that are being kicked around.
…the president is pushing for tax incentives for making products, especially high-tech ones, in the US. He also wants more focused federal research programs, including funds for new privately run institutes to study advanced manufacturing techniques.
Senator Debbie Stabenow (D, MI):
…legislation that would give tax breaks to help companies cover the cost of moving production back to the US and ban tax deductions for the expenses of moving operations abroad.
Congressman David Cicilline (D, RI):
…federal grants to help companies upgrade equipment and retrain workers.
Republican Presidential Candidate Mitt Romney has these:
…repealing “excessive” regulation in such areas as environmental protection. He also wants to require secret ballots for union-certification votes, which might make it harder for organized labor to win.”
The Democrats want Big Government solutions—that are careful to keep government’s hands in business’ pockets—and solutions that simply make an already excessively convoluted tax code even more so. Romney’s ideas don’t even address the tax question; although they would help business.
No. Instead of that claptrap, simplify and reduce.
Get rid of the tax subsidies. Get rid of the tax credits. Get rid of business regulations that do not actively support productivity improvement or enforce contract law—contracts between businesses and suppliers, businesses and customers, business management and business employees.
Lower—if not eliminate—tax rates on businesses. They’re not the ones paying the taxes, anyway; their customers pay them in the form of higher prices, so that a tax on business is simply a second tax on private American citizens. Including those 50% who pay little to no income tax of their own; including seniors who have only a fixed income with which to pay for their necessities.