Five Mile River Investmest Mgmt

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Income Tax
The Fed has exhausted most of their “lifesaving” tools when the sources of low growth and low job creation come principally from counterproductive fiscal government policies that include: 1) the highest marginal corporate income tax in the developed world at 35%; 2) the job-killing regulations of the Environmental Protection Agency on U.S. factories and utilities; 3) The Affordable Care Act (Obamacare) with its higher insurance premiums and taxes and penalties on businesses, insurance companies, medical device companies, and drug companies, with the net effect of pushing employees to part-time status under 30 hours a week and keeping a workforce total under 50 employees at individual companies; 4) Minimum wage legislation which is estimated by the Congressional Budget Office to kill a half million jobs; 5) The Dodd-Frank law which has led banks to pull back on lending to anyone other than their very best customers with the highest credit ratings. Dysfunctional and delusional may be accurate descriptors of this job growth/slow growth conundrum.

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