Add to that Unions are killing business and other utter nonsense. Does anyone look at history? Companies in the1950's and 60's had to deal with taxes that were double that of what the rate is today. Many if not most major companies of the time had pension plans, either their own or union. Regulations? the companies of that time had as many if not more than they do today. Hey guess what they not only survived, but they also grew and expanded. So what is wrong with big business and their supposed inability to survive in today's world?
So what is the problem? The way I see there are three main parts;
1. Corporate/Wall Street greed and mismanagement.
2. Unions losing focus and any ties to doing what is best for their members in the long term.
3. Poor Federal laws and policies, along with both political parties helping and encouraging problem's #1 and #2.
To go in depth on the above reason would have me typing all day, so I am going to focus on an issue in #3 that does impact any companies ability to survive in today's global marketplace, FREE TRADE. Other than outright Greed, free trade is killing our countries economy more than anything else. With our Union/personal desire for a living wage, combined with much needed environmental laws and regulations, it is almost impossible to compete with many nations. Lets face it how can a U.S. company compete when it has to pay $16+ an hour and deal with all the costs associated with being environmentally friendly, while other nations can pay a few dollars a day and pollute all they want with no consequences? They cant and cutting their tax rate to zero wont help. Yet our Government keeps pushing free trade deals, and corporations keep fueling their greed by sending our jobs to other countries.
In answer to this many cry out to ease the regulations and get rid of unions because they make the workers too expensive. To those people I must ask why should we be forced to make our country more like the third world nations? If they want to do business with us, shouldn't they be forced raise their standards to match ours? We are supposed to be the greatest nation on earth but yet we want to become less great? That just doesn't make any sense.
Free trade should only be with countries that have laws and wages similar to our own. Tariffs on non food products are needed to level the playing field with all the other nations. Some would say that will start trade wars, but how citizens of third world countries who only make a few dollars a day going to afford items we routinely pay $20 and more for. As for the environmental issues, everyone pays in the long run. Pollution does not respect national boundaries. It will also be easier to get companies to go along with better environmental regulations as long as they know that a polluter in China wont be able to undercut them due to new cost the regulations will have.
My final comment I am borrowing from a failed Presidential candidate from our recent past. Ross Perot may have failed to win the election but he was spot on with this comment:
"That giant sucking sound you hear is jobs leaving this country due to the passage of NAFTA"