From beautiful Homer Glen, listening to the radio, I hear the jobless rate is now 9.1%. That high number helps me understand why there are so many homes abandoned and why foreclosures are rising. Business is struggling because people have less disposable income. The 9.1% number does not include people who ran out of unemployment, and those that just gave up looking for work. The actual unemployment rate is ? In any event there is a big problem.
Manufacturing has gone overseas for the most part. Companies that remain here find it harder and harder to make a profit and comply with excessive regulations imposed by their unwanted Senior partner, the Government. Most business make between 5 & 10% profit after expenses. The Government takes more in tax than the owners make with no responsibility or risk. In Illinois the corporate tax rate is 9.5% and each city has a sales tax ranging from 6 to 10%. With citizens paying a State Income Tax of 5% it is easy to see that the excessive taxes are the main reason why unemployment is so high. Years ago people got unemployment compensation for 26 weeks, with an extension making the total time less than a year. It was in the interest of laid off workers to find a job. Today unemployment payments last almost 3 years. The incentive to find work is relaxed. It is no surprise the socialist touch is applied to unemployment. Maybe the government needs to remove some of the taxes and regulations that interfere with companies having the incentive to create jobs.
The increase in gas prices, is also a huge suction cup off everyone’s disposable income. Obama, doing everything he can to promote the green economy including more regulations, and restrictions on drilling. He gives American tax dollars to Brazil for offshore drilling, telling Brazil we will be their best customer. Obama, stopped drilling off our cost. Obama, and his socialist green policies are the cause of increasing gas prices. Since it cost me so much more for gas, I am forced to spend less on other things.
Making only one blend of gas for the entire country, encouraging construction of refineries, nuclear plants, wind mill farms, solar farms, and ANY method of producing energy will reduce costs.
The government needs to push for America to be self-reliant. We are told to get hybrid and fuel efficient cars, but as taxes received by the government on gas become less, the government talks about taxing the miles driven. Every Government program is paid by a private sector tax. How silly is it for government to make it difficult for the very hand that feeds them? Why not encourage business by practicing capitalism? If the government permanently reduced taxes and regulation, business would grow because they could make money. Then watch people go back to work.