The United States is losing its competitiveness in the world economy. Sadly, instead of leading the innovation charge in the twenty-first century, we are becoming victims of policies that restrict our entrepreneurial roots.
As Ben Casselman of The Wall Street Journal recently wrote:
“Three long-running trends suggest the U.S. economy has turned soft on risk: Companies add jobs more slowly, even in good times. Investors put less money into new ventures. And, more broadly, Americans start fewer businesses and are less inclined to change jobs or move for new opportunities.”
These trends have been an issue in America for a while, but they’re exacerbated by recent irresponsible policies. Take the case of the Affordable Care Act. America’s businesses have had enough of a challenge trying to claw their way back from the recession, but Obamacare imposes rules that will negatively impact the workforce.
For instance, there is the quick-hit $63 per-person fee that will get passed down to employees in order to raise the $25 billion the administration expects. This might not sound like a lot, but when local businesses have to cover this fee for each person, that could result in lower wages or fewer people being hired.