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  The USA has driven business from its shores through tax policy and regulation. The most impressive affront to business is the Sarbanes Oxley act that has driven foreign companies to avoid the NYSE and list in Tokyo. Additionally, SOX has driven public firms private. The latest to go private is Dunkin Donuts. The cost of regulation far outweighs the benefits derived.

  The Federal government and the regulation mad government have driven profit making organizations to foreign shores and out of public markets. Along with the unions that are destroying the competitive position of the U.S. auto industry, the federal government has caused the export of our manufacturing sector to foreign countries.

  While Ford is closing over 30 plants in the United States, they are building new plants in Mexico. Likewise, as General Motors closes U.S. plants it is building new plants in China! The government that believes the money hungry corporations that need excessive regulation are going to die. The revenue to support the government comes from the profitable businesses that are being driven away. Government and the bleeding hearts that think they know better than the market will wake up too late when the credit status of the country declines significantly and the tax revenues vanish as corporations move to foreign locations.

  SOX really protected the small investor - now he cannot even find the stock to buy because it has either gone private or moved over seas. The consumer has to be aware that they are buying products made in foreign countries - how many of your Christmas presents were made in China or somewhere else in Asia. Congress has to stop the DoD from selling F-14 parts to Iran (a no-brainer for us money hungry corporations but obviously not for the government workers that want more money).

  Even government is contracting with foreign companies to get lower prices because they do not have the sense to see they are giving away the tax revenues from paying a little more to buy from American corporations (the government agencies may save a $1 on the purchase but they give away $1.50 in potential tax revenue by purchasing over seas! No one in government has the outlook of the country in mind they simply want more money and do more things to destroy the greatest economic engine ever in existence. Put your TSP contributions in the foreign market opinion.

  taxpayer Posted February 2, 2007 6:52 AM
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  Blah, blah, blah! Remember the biblical passage: "The love of money is the root of all evil." That's multinational corporations to a tee. Of course they don't want any rules, regulations, or restraints on their greedy profit-making. How churlish to insist on protecting worker's rights, salaries, and healthcare. Just hire people from another country illegally (sound familiar) and get on with it. Unrestrained capitalism is unrestrained evil, period.

  GovExec.com reader Posted January 31, 2007 10:12 AM
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  Super article. This topic has been discussed widely in recent business writing. Mr.Friedman's book goes beyond other writing. It gives many examples of the changing world and discusses them in depth.

  It is a challenge and a warning. It is a wake-up call. "E" or be eaten.

  GovExec.com reader Posted January 31, 2007 8:08 AM