This is an excerpt from an article written by 
Since 2009, according to the Wall Street Journal, "the U.S. has lost more than $200 billion in investment capital." They add: "That is the equivalent of about 2 million jobs that don't exist on these shores and are now located in places like China, Germany and India."
President Barack Obama's rhetoric deplores such "outsourcing," but his administration's policies make outsourcing an ever more attractive alternative to investing in the United States and creating American jobs.
Blithely piling onto American businesses both known costs like more taxes and unknowable costs — such as the massive Obamacare mandates that are still evolving — provides more incentives for investors to send their money elsewhere to escape the hassles.
Hardly a month goes by without this administration coming up with a new anti-business policy whether directed against Boeing, banks or other private enterprises. Neither investors nor employers can know when the next one is coming or what it will be. These are unknown unknowns.
Such anti-business policies would just be businesses' problems, except that it is businesses that create jobs.
The biggest losers from creating an adverse business climate may not be businesses themselves especially not big businesses, which can readily invest more of their money overseas. The biggest losers are likely to be working people in America, who cannot just relocate to Europe or Asia to take the jobs created there by American multinational corporations.
Thomas Sowell is a senior fellow at the Hoover Institution. His column is distributed by Creators Syndicate. Email comments to letters@detnews.com.
From The Detroit News: http://detnews.com/article/20110810/OPINION03/108100381/Americans-lose-with-Obama’s-policies#ixzz1XGvNzzQi
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