Boss of world's biggest maker of core computer chips (Intel) says that the Democrats Are Destroying America's Economy



This is a stunning indictment from the leader of one of America’s most successful technology companies:
Unless government policies are altered, he predicted, “the next big thing will not be invented here. Jobs will not be created here.”

The U.S. legal environment has become so hostile to business, Otellini said, that there is likely to be “an inevitable erosion and shift of wealth, much like we’re seeing today in Europe–this is the bitter truth.”

Not long ago, Otellini said, “our research centers were without peer. No country was more attractive for start-up capital… We seemed a generation ahead of the rest of the world in information technology. That simply is no longer the case…”

Otellini singled out the political state of affairs in Democrat-dominated Washington, saying: “I think this group does not understand what it takes to create jobs. And I think they’re flummoxed by their experiment in Keynesian economics not working…”

As a result, he said, “every business in America has a list of more variables than I’ve ever seen in my career.” If variables like capital gains taxes and the R&D tax credit are resolved correctly, jobs will stay here, but if politicians make decisions “the wrong way, people will not invest in the United States. They’ll invest elsewhere.”

Take factories. “I can tell you definitively that it costs $1 billion more per factory for me to build, equip, and operate a semiconductor manufacturing facility in the United States,” Otellini said…

“If our tax rate approached that of the rest of the world, corporations would have an incentive to invest here,” Otellini said. But instead, it’s the second highest in the industrialized world, making the United States a less attractive place to invest–and create jobs–than places in Europe and Asia that are “clamoring” for Intel’s business.

The most disturbing part of Otellini’s comments is that he says nothing groundbreaking, nothing unexpected, and nothing that we have not heard many times before. Otellini talks about regulation, taxation, litigation and transparency - all issues that have been cited by business leaders for years. But our ‘leaders’ in Washington ignore these concerns, and instead pile on more taxes, more regulation, more litigation costs, greater uncertainty about the climate going forward. And they do all this while claiming to be ‘pro-jobs.’

Will Congress and the White House ever realize that business leaders are telling the truth? As our government continues to make it more difficult to do business in the US, companies must increasingly look to more favorable climates abroad. If Washington really wants to spur job creation here in the US, they should repeal the health care overhaul, reduce spending, cut the corporate tax rate, give up on cap and trade, and reform litigation. Instead we have been treated to an extended experiment in government control - one that is obviously not producing new wealth, new jobs, or any real hope for the emergence of the industries of the future.

SOURCE

2 comments:

  1. The democrats know that their policies won't create jobs, they don't want them to. They want to turn america into a third world country and redistribute its wealth else where. They want to destroy the system and create population dependant on the government. They destroy the economy and then claim that they are the only ones that can fix it. And there are plenty of people who buy into the idea that only government can fix such a big problem even though they realize it was government that created the problem in the first place.

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  2. Eugene, are the Muslims, Masons and Fourth Reich in on this plan or are they are all being quietly coordinated by Dr No?

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