Great Corporate Control

John Boehner; Speaker of the House said, “We can't raise taxes on the very people who create jobs, and keep spending money that we don't have.”

The founders understood job creation needs start up funds and a stable banking system to encourage entrepreneurs to be the “jobs creators”, something we lack here in the US.

From the book 13 Bankers by Simon Johnson -”Alexander Hamilton believed that the government should ensure that sufficient credit was available to fund economic development and transform America into a prosperous, entrepreneurial country, and who “favored a stronger federal government that actively supported economic development.”

Today we have Joel Naroff, president of Naroff Economic Advisers stating, “A lot of the especially large companies that have a lot of business overseas are looking towards their overseas markets, rather than the domestic U.S. markets to expand. As a result of that, they may be making a lot of money, but they may be putting that money to use somewhere else outside the United States.”

Lisa Lynch Dean of the Heller School for Social Policy and Management at Brandies University said “new entrepreneurs that come into a bank that are looking for funds to go off with some new idea that no one else has done before are encountering a lot of resistance in terms of raising that capital that they need to grow their businesses.” “And a lot of net new employment at this stage of the recovery in the past would have come from new businesses starting up and adding employees. And that's not happening either.”

What we need is a strong federal government whose main interest is a sound financial environment where entrepreneurs can flourish and create jobs. Instead, we have an economy where mega Banks are in control of the nation’s wealth and monopolistic Conglomerates are in control of the jobs. This economic and political influence renders our politicians incapable of standing up for the founding principals which made this nation one of the most prosperous in the world. Today we are seeing giant corporations creating astronomical job losses, yet Representative Boehner insists the way to stop it, is to cut taxes on these jobs exporters.

Teddy Roosevelt said in his 1901 Inaugural address that “Great corporations exist only because they are created and safe guarded by our institutions; and it is therefore our right and our duty to see that they work in harmony with these institutions”. The economy will not improve until we reclaim our right to ensure economic harmony.