Switzerland Bound

There is a lot of talk in Washington about fighting for American jobs. Talks about wanting to keep companies from outsourcing jobs to other countries. While nearly all economists will agree that preventing such things from happening is not good for the nation's overall economy, I can respect the desires to protect American jobs.

The problem is that the actions that Washington is taking, specifically higher business taxes, are actually chasing companies away from the United States. Washington's solution to this problem has been to propose higher taxes on companies that outsource jobs. It does not take much to see the flaw in this logic.

In the mean time there are quite a few major businesses that are looking to move their business to other, more tax friendly nations. This is an excellent story about the benefits that Switzerland is feeling because of their business friendly tax code.

A tax code that is not business friendly is not the way to spur economic growth in a time of recession. It is about like throwing water on a fire to make it burn.

- The Banker