One of the principal impediments to job creation is uncertainty on the part of American companies, large and small. We've all watched as companies have sat on a lot of capital. They're uncertain about what tax policy is going to be. They're clearly uncertain about how health care costs. They're uncertain about all the regulations on capital markets.
We have wandered too far off the path envisioned by our Founding Fathers of a government with few and defined powers. Government was supposed to be about doing only a few things; today government is about doing nearly everything. It has intruded in our business and personal lives in ways unimaginable to the wise men who gathered in Philadelphia in the sweltering summer of 1787. And to increasingly little positive benefit.
Recently, Washington has been great at issuing overly complex and ineffective regulations—breeding uncertainty among America’s job creators and stifl ing their ability to grow the economy. To add insult to injury, Congress and the administration are considering myriad new regulations to pile on top of business owners, threatening to make it even harder to keep their doors open.
America is sinking under the crushing weight of the ever-expanding regulatory state. This burden threatens to disrupt our recovery, hamper long-term growth, undermine our global competitiveness, and suffocate the entrepreneurial spirit so vital to America's success.
[A dramatic increase in regulation under the Obama administration is] threatening to short-circuit our recovery and undermine our long-term growth....More importantly , it is suffocating the entrepreneurial spirit so vital to America’s success.
[Obama tax proposal is] a bullet in the head for an awful lot of people that are going to be laid off and an awful lot of people who are hoping to get their jobs back.
[The government involvement in the economy] is so overwhelming and beyond anything we have ever seen, that we risk moving this country away from a government of the people to a government of the regulators.
Our concern is that ... it will create a one-size-fits-all federal system that will marginalize both directors and shareholders.
This one-size-fits-all approach would distract directors from managing a company, lessen shareholders voice in proposals and director elections, and continue to disenfranchise retail shareholders.
Congress, the administration and the states must recognize that our weak economy simply cannot sustain all the new taxes, regulations and mandates now under consideration. It is a surefire recipe for a double-dip recession or worse.