Taxes and the Economy

As long as our corporate tax rate remains the highest in the world—34%  in the U.S., 16% in Canada, 11% in China, 0% in Dubai—and massive property taxes remain, no employer will start a business, expand, or hire. In fact, many employers are selling off their businesses, laying off employees, and investing in gold or land in Costa Rica or moving to China. —Chris Berg 

Regulations and the tax code are killing this country. We hear all the time that small business is the driving factor [for economic growth]. But our federal government continues to hurl more and more regulations and more and more tax codes at us. If we don’t have a commonsense takeover of the tax code and regulatory system, then yes, America is over as a free state. —Whitehat211

Let’s not kid ourselves. Both major political parties are responsible for the national debt because both parties refuse to prioritize government expenditures. I respect the Tea Party because it’s the only special interest group not looking for a handout.—Robert Ahern 

Innovation

High-value innovation is the result of new inventions, which are mainly created by startups. Technology startups are built on three foundations: intellectual capital, financial capital, and human capital. The intellectual capital foundation is mainly represented by patents. Our patent system has been eroded by the America Invents Act and by our inept Supreme Court. The financial capital foundation has been undermined by Sarbanes-Oxley, which makes it almost impossible for a startup to go public, limiting its ability to raise money. The human capital has been undermined by FASB [Financial Accounting Standards Board] rules on stock options, which have made it harder to attract human capital to startups.—Dale Halling 

Govt Integrity Fund @GovtIntegrity2h— Great Read. @FreeEnterprise How to ignite American #innovation: bit.ly/KXtQhk

Brian Kolb @GOPLdrBrianKolb Innovation (lifeblood of U.S. economy) begins w/ entrepreneurs. Start today! Great resources from @NFIB @Inc @uschamber tinyurl.com/7b4pm5c

Innovation starts with getting the government out of the equation. It matters little if one is innovative if the cost to implement is a mountain too high to climb. In many cases, there is too much regulation to satisfy, mostly in egregious fees that impede capitalization of the idea.— Kevin Bunn