Tags: Help | Fix | Economy | November

Help Fix the Economy in November: Vote Romney

By    |   Monday, 30 Jul 2012 07:47 AM

President Barack Obama simply doesn’t understand how money or economics work. He’s never really had a “real job,” and even when he was a Congressman, he was only a junior Senator. So he doesn’t even have a lot of experience in Congress.

While admittedly, Mitt Romney isn’t my favorite choice for the Republican presidential ticket, it sure beats re-electing Obama.

But let me tell you what I do like about Romney. He has had “real jobs” in corporate America where he had to turn a profit. This experience is what we need in the White House. So, by voting for Romney in November, I believe you’ll be doing your part to reduce unemployment here in the United States.

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You see, one thing that Romney understands is that you have to be favorable to big business as a government if you want lasting job creation.

For instance, right now Cisco Systems, an $83 billion company, has over $43 billion in cash on its books. However, much of it is overseas still. Why? Well, Cisco won’t bring it home to America right now because it would be taxed at a very high rate. So, it chooses to keep it offshore until a more favorable tax environment emerges.

But this is not unique to Cisco. For instance, Microsoft has over $63 billion in cash and equivalents on its books.

Apple has a market cap of over half a trillion dollars. You think it couldn’t bring some of the billions of dollars in cash home, too?

All of these companies have expressed interest to our government about bringing the cash home to expand operations here in America, which would create jobs here.

However, politicians don’t advertise the fact that THEY are the hold up when it comes to real, lasting job creation.

Instead, they just allow the Federal Reserve to wave its magic “money-printing wand” over the economy. But that’s fake prosperity, and all of the quantitative easing efforts eventually fizzle out. They are only temporary solutions, and horrible ones at that.

If you want real change in America, you’ve got to go with someone who really understands money, business, the economy and job creation. Romney understands that much better than Obama does.

I believe Romney would work with corporate America to get the money back home and taxed at a fair tax rate, which would allow corporate America to get back to creating jobs here, not just abroad. It would also give the government a much-needed boost to its tax base.

You see, politicians keep holding out because they think corporate America will eventually cave in and bow to the wishes of the government and see a lot of their cash “taxed away.”

 

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However, these guys aren’t stupid. They weren’t born yesterday. They know it wouldn’t be prudent to do so and it wouldn’t help the companies or their shareholders to repatriate the money back home at this time.

Besides, each of these companies has shown that they can continue to grow and make profits even without repatriating the money back home. So, the government isn’t hurting them really. It is simply slowing down their growth a bit is all.

If we want to see “real,” lasting change in the unemployment situation, we’re going to have to see tax policies that are favorable to big business and, for that matter, even the small business world, too.

You see, printing money doesn’t equate to job creation. Printing money simply creates inflation, as more money chases a finite amount of goods. And inflation, if anything, is an unseen tax on corporations and on the consumer. Therefore, that’s not the way to get the economy going again.

Instead, jobs must be created. And these big corporations have the power to create tons of jobs. They’re simply waiting on our government to give them a fair tax environment and they’ll bring the money home and begin to expand here – in the good old U.S.A.

About the Author: Sean Hyman
Sean Hyman is a member of the Moneynews Financial Brain Trust. Click Here to read more of his articles. He is also the editor of Ultimate Wealth Report. Discover more by Clicking Here Now.



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2012-47-30
Monday, 30 Jul 2012 07:47 AM
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