President Obama stood before America and gave his third State of the Union address. Whereas Dr. Martin L. King once proclaimed, “I have a Dream,” President Obama expressed that he has an “imagination.” While the President is “imagining,” America is having a nightmare, reeling from his anti-free-enterprise and anti-family policies.
Obama began his speech boasting, “For the first time in nine years, there are no more Americans fighting in Iraq.” He highlighted that, in the military, personnel don’t obsess over differences. Instead, he added, they “focus on the mission at hand. They work together. Imagine what we could do if we followed their example. Think about the America within our reach.”
The President said creating new American jobs “should begin with the tax code.” He stated that “companies get tax breaks for moving jobs and profits overseas. Meanwhile, companies that choose to stay in America get hit with one of the highest tax rates in the world. It makes no sense and everyone knows it.”
He is correct in this assessment. The U.S. corporate tax rate on new investment ranks among the highest in the Organization for Economic Cooperation and Development (OECD) at 34.6 percent. The U.S. corporate tax rate exceeds that of France (34.0 percent), India (33.6 percent), Russia (31.9 percent) and Japan (29.5 percent). Argentina, Chad, Brazil, and Uzbekistan are the only countries with higher corporate tax rates than America.
President Obama’s solution appears to be more of the same — big government. He does not want to reform the U.S. Tax Code. Instead, he wants to dictate the free market and have government decide who wins and who loses, by offering tax breaks and incentives to “some” businesses, rather than making America “safe for business” for all corporations.
Our current U.S. corporate tax system is detrimental to economic growth. One study suggests: “The aim of corporate tax reforms should be to create a system that has a competitive rate and is neutral between different business activities. A sharp reduction to the federal corporate rate of 10 percentage points or more combined with tax base reforms would help generate higher growth and ultimately more jobs”.
In effect, government should not be involved with business creationism, except to provide a business friendly economic climate, devoid of governmental intrusion or favoritism.
Jerome Hudson, a spokesperson for Project 21, a National Speaker’s Bureau of Black Conservatives, keenly observed that the President’s health care plan was suspiciously missing from the speech.
“Obama also failed to celebrate his signature legislative victory: Obama Care. After the year it took to pass it, so “we could find out what’s in it,” you’d think the President would’ve been touting his sweeping reform.Guess again. Why? Because Mr. Obama knows that 60 percent of Americans oppose the law…”
It should also be noted that the President’s individual mandate shall price hundreds of thousands of unskilled workers out of full-time employment. The mandate requires businesses to provide health benefits to full-time employees. Small businesses, in particular, simply cannot remain functional under such a mandate.
Black Americans ought to be outraged after this speech. President Obama claims to advocate for the creation of new construction jobs, though he supports union subsidies which discriminate against Black Americans.
The Davis-Bacon Act or “prevailing wages,” was passed by Congress in 1931 with the intent of favoring White workers who belonged to White-only unions over non-unionized Black workers.
The Davis Bacon Act continues to have discriminatory effects today by favoring disproportionately White, skilled and unionized construction workers over disproportionately Black, unskilled and non-unionized construction workers.
The President attempted to ingratiate himself to Americans by uttering the ideals of his vivid imagination. The truth is that far too many American families, as a direct consequence of his economic policies, are living a nightmare.