Why don’t we build anything in America any more?
Well, we do build many things, but if the question is changed to “why aren’t we building more?” then the answer is that the costs of building things in America are much higher than building them elsewhere. One reason is that we have the highest corporate tax rate in the world. Another reason is that we pass regulations that make it expensive to make anything here.
Here is a report from the Daily Signal about a new study by the Heritage Foundation.
A new study predicts that more than a half million manufacturing jobs will be eliminated from the U.S. economy as a result of the Obama administration’s proposed regulations to curb carbon dioxide emissions.
“Every state would experience overwhelming negative impacts as a result of these regulations, but especially those with higher-than-average employment in manufacturing and mining,” said Nick Loris, a co-author of study, which was completed by energy experts at The Heritage Foundation—the parent organization of The Daily Signal.
The researchers projected how many manufacturing jobs would be eliminated in each state and congressional district as a consequence of the carbon plan, which is the centerpiece of President Obama’s effort to combat climate change.
The results show that 34 states would lose three to four percent of manufacturing jobs by 2023, and nine other states would lose more.
In Ohio alone, 31,747 jobs would be lost.
The study predicts that the Midwest would be hit the hardest, with Illinois, Indiana, Michigan, Ohio and Wisconsin losing more than 20,000 jobs each.
[…]The analysis comes just months before the Environmental Protection Agency is set to finalize its carbon regulations covering new, existing and modified/reconstructed power plants by mid summer of 2015.
Heritage’s study looked at the totality of the Obama administration’s efforts to limit carbon dioxide emissions—from motor vehicles and power plants, both new and existing.
The EPA’s plan forces states to cut power-industry emissions by 30 percent in 2030 from 2005 levels.
We have to save the planet!!!1!!
Meanwhile, in Boston:
So, the next time anyone asks you why we don’t build anything anymore, tell them it’s because they voted for Democrats, and how this resulted in higher taxes and more burdensome regulations. Higher taxes and more regulation causes companies to close down here at home and move elsewhere, or they just scale back here and expand elsewhere. Democrats cause American jobs to go overseas, raising the unemployment rate. That’s why our labor force participation hasn’t been this low for decades. It’s basic economics.