| Economy |
The most pressing issue facing our state is the crumbling economy. Tennesseans are losing their jobs, having their hours reduced, and struggling each week to stay current on their payments. When a person is laid off, it not only devastates their earning potential but it usually means they lose their health coverage as well. As industrial plants close their doors and move their operations overseas, more and more people are left out of work. While current politicians constantly clamor that they have plans to turn things around, economic conditions are continuing to deteriorate. They either fail to realize that they are part of the problem, or they do not have any intention of actually making the fundamental changes necessary to helping the people they are supposed to represent. Several factors have combined to create our nation’s recession/depression. Government pressure, greedy lending, and naïve borrowing led to an unstable housing bubble. When it inevitably collapsed, our economy and people’s home values were severely affected. The sudden real estate downturn came on top of a much slower and insidious decline in industrial jobs. For decades Americans have witnessed their factories moving operations overseas or closing their doors in the face of cheaper foreign competition. Every time a plant closes a negative economic ripple effect ensues. The laid off employee has to reduce spending so the demand for goods and services is also decreased. When this happens in mass it can have a far-reaching negative impact. The tax burden is also spread thinner as those who remain employed are left to shoulder an ever-increasing tax load. Most politicians publicly blame corporate greed or the unfair advantage foreign companies have because of a lower waged work force. They are either unwilling or unable to admit that a major component in our economic decline is our own government. Because of its insatiable desire for more money it has increased the tax burden to the point where it is crushing business. Businesses in the United States have to pay city, county, state, payroll, social security, unemployment, and federal income taxes. Some of the federal taxes have to be paid in advance or companies are faced with massive fines. Not only are our tax codes designed to make it very difficult for a business to survive, but massive regulations also make it very expensive for entrepreneurs. The mountains of codes owners have to stay in compliance with radically increase the cost of doing business. The creative economic forces that made the U.S. an economic powerhouse are being destroyed by our elected government. Politicians of both parties have completely forgotten or callously ignored that government should be encouraging economic growth not stifling it. As jobs are driven overseas, we have to understand that they are leaving for a reason. Our system has been designed by the Democrats and Republicans to give every advantage to foreign companies like the Chinese. A great example of their putting themselves ahead of their electorate is the “Cap and Trade” proposal on carbon emissions. This ill-conceived bill would in effect just be a back door tax on the remaining American businesses. It would not help the environment in the slightest but it would increase the regulations and taxes on our job creators. The self-serving officials pushing this idea have to realize that it will only result in more and more jobs being lost. However, they do not seem to care because it will give them more tax dollars to squander and increase their power by creating more bureaucracy. They get more power and money, Americans will get higher unemployment, and the world gets to grow their economy at our expense. Capitalist cannot be blamed for escaping this madness, they are in business to create wealth not prop up a top heavy, wasteful, and corrupt system. Business owners should not be taxed and regulated to the point of choosing between bankruptcy or moving overseas. It goes against not only the principles this nation was founded upon but also common sense. Industry should not be seen as simply a cash cow to feed big government. Sadly as businesses close or leave, the companies that choose to try to stay are further punished because they have to pay more to make up for the taxes that were lost. As the government chooses to increase unemployment benefits, remaining American businesses try to soldier on under that burden as their foreign competitors smile.
My economic plan is to actually reduce the tax burden and streamline regulations on Tennessee’s businesses. This will stimulate economic growth and create a healthy business environment. We can use this approach to draw industry from across the U.S. Rather than escaping high taxes and going to China, they can choose to escape high taxes by coming to Tennessee. As more high paying jobs flock here, people can spend more money and a large surge in sales tax will be generated. We will be very careful not to let this excess go to frivolous spending; to the contrary we will make our government leaner and efficient. That will allow use to actually lower the sales tax. This approach is in stark contrast to our current batch of politicians from both parties. They feel you can stimulate the economy by taxing, wasting, and borrowing more. We will stimulate the economy by letting people and businesses keep their hard money and spend it as they see fit. This is a simple solution but it can create an economic powerhouse in Tennessee that can become a model that showcases the economic benefits of limited government versus that of big government. It is our obligation to pass down to our children an environment that allows them to succeed and rewards them for hard work. It will also be a welcome sight to be able to go into stores and actually purchase something made here in Tennessee for a change.
Brandon Dodds
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"They either fail to realize that they are part of the problem, or they do not have any intention of actually making the fundamental changes necessary to helping the people they are supposed to represent."
Brandon Dodds
"Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery."
Winston Churchill