Misguided and socialist policies contribute to bleak economic outlook

Most recessions begin with layoffs at the bottom and work their way up. If recent layoffs presage the beginning of another recession and more widespread job losses—asBut then again, it’s unusual for the interest rate onWhen borrowing costs soar, investments in long-term projects, such as research and development, are among the first things companies cut from their budgets. It doesn’t help matters when businesses simultaneously face new, unfavorable tax treatment for incurring research expenses.

the costs they incur on most capital expenditures, such as factory machinery and office equipment. Instead, companies will return to depreciation schedules of as long as 20 years. Punishing businesses for installing factory equipment or researching new technology is economic malpractice. These types of investments help build the economy and create a better future for Americans.

Businesses making such investments shouldn’t also have to give the government a de facto interest-free loan, especially in a high interest rate environment. The unfortunate reality is that punishing investments in research and physical capital will lead to reduced investment, fewer high-paying jobs, and stunted economic growth.

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