Times are tough today for profits

By Mark Tapscott
Editorial Page Editor 8/21/08

Traders gather at the post that handles shares of Merrill Lynch on the floor of the New York Stock Exchange Tuesday July 29, 2008. AP/Richard Drew In many respects, it’s harder to be a successful entrepreneur today than ever before, thanks to a growing tax burden, a host of stifling regulations at all levels of government and the expanding threats of litigation or prosecution for a host of seemingly innocent activities.

The irony, of course, is that economic freedom — variously called capitalism, the profit motive, entrepreneurship or business — is essential to creating jobs, providing needed products and services, and generating prosperity for everybody. The rising tide can indeed lift all boats, but first it must be allowed to rise.
In this special report, The Examiner has brought together in a three-part series appearing today, Friday and Sunday nine experts on the present and future health of economic freedom in America.

Today, former U.S. Attorney General Edwin A. Meese warns that your next business meeting may have to be held in prison, thanks to a bewilderingly complex trend of criminalizing conduct that has never before been considered even remotely illegal.

U.S. Chamber of Commerce President Thomas Donohue says that anti-profit politicians and activists often are beating up the goose that lays the “golden eggs” of jobs that pay the taxes and support the causes that make American life both prosperous and compassionate.

Finally today, Sen. Jim DeMint, R-S.C., calls on Congress to try a new approach — making the burdens on entrepreneurs lighter rather than continuing to heap on more taxes, red tape and mandates.

Schedule
Today: Tough times for profits
» Meese on why jail may be location for your next business meeting.
» Donohue on why everybody benefits when profits are plentiful.
» DeMint on what Congress must do to unleash entrepreneurs.

Tomorrow: Why is profit a dirty word?
» Klavan on no business like show business to bash business.
» Menefee on the most anti-profit journalists.
» Scanlon on the most powerful enemies of profit.

Sunday: New day coming for profit
» Lamm on keeping our balance on reforms.
» Jensen on the next great generation of entrepreneurs.
» Tapscott on wikinomics and profit.

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