The Conservative Edge

There I was a couple of days ago, sitting in front of the computer, reading some columns featured on the Dayton Daily News website. I try to respond to one or two columns a week, just so I can feel good about contributing to a liberal newspaper from a conservative perspective. I noticed an article written by Thomas Friedman, a well-known columnist who writes for the New York Times. He states that America is losing ground in technological development and innovation. Part of this decline is due to the high cost of doing business in the U.S. Businesses here face extremely high corporate tax rates, and the federal government is reluctant to use subsidies or other financial incentives to keep corporations planted in American soil.

So, I felt the need to respond to Friedman’s column. I wrote that Friedman is actually correct in theory. There is no good reason that American companies should not prosper by operating here in the States. Furthermore, as companies grow, they usually provide cheaper goods and services, and employ larger numbers of people. This employment includes not just production workers, but research and development teams as well.

However, the Obama administration, and all Democratic leadership, consider corporate profits to be evil. Carter wanted to tax the oil companies, Clinton harassed Bill Gates and Microsoft, and now Obama has taken swings at the car companies, Wall Street, and the big banks. It seems impossible that Obama and his cohorts in the House and Senate could even think of reducing unemployment without stimulating business growth. They think they can increase taxes, pile on stricter financial and environmental regulations, and yet somehow realize positive growth of America’s GDP. I closed my remarks on the Dayton Daily News website with the statement “capitalism needs capital.”

Honestly, at the time I posted my comments, I had no idea that Jack Kemp had made that exact statement years ago. I didn’t read of his observation until today (March 6). He was right. Capitalism is the only economic engine that has allowed the rise of America’s middle class, and given so many individuals the chance to obtain real wealth. Capitalism also fueled the fantastic technological advances of the late 1800s and early 1900s. The capitalist system allowed the development of steam engines and railroads, and later the telegraph, electricity, motion pictures, radio and television, not to mention the automobile and the production line. None of these things would have progressed the same way under another economic system.

But we have a President, and a liberal Congress, that views capitalism as an evil institution. No wonder we are losing technological ground to China and Korea. No wonder that real unemployment hovers at 16 percent. No wonder that this country isn’t producing enough scientists and engineers. The only people prospering now are government administrators. Jack Kemp was right. Capitalism needs capital; and America needs capitalism.