Business, Government Legal News from throughout WVTax burdens will stunt America’s growth

Tax burdens will stunt America’s growth

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  • OPINIONLetters to the Editor

  • Thursday, May 10 2012 9:36 AM EDT2012-05-10 13:36:30 GMT
    As a Ph.D. petroleum reservoir engineer and geologist having spent 30 years in petroleum reservoir modeling, assessment and fluid flow analysis, I was both shocked and angered by Dr. Myers's absurd theory
    As a Ph.D. petroleum reservoir engineer and geologist having spent 30 years in petroleum reservoir modeling, assessment and fluid flow analysis, I was both shocked and angered by Dr. Myers's absurd theory
  • Thursday, May 10 2012 9:35 AM EDT2012-05-10 13:35:51 GMT
    This letter is being sent so that readers may learn more about the Pancreatic Cancer Research and Education Act introduced for the 112th Congress on Feb. 16, 2011.  Congresswoman Anna Eshoo of California,
    This letter is being sent so that readers may learn more about the Pancreatic Cancer Research and Education Act introduced for the 112th Congress on Feb. 16, 2011.  Congresswoman Anna Eshoo of California,
  • Wednesday, April 25 2012 5:30 PM EDT2012-04-25 21:30:59 GMT
    Rachel Huff Charleston I think we've all heard the statement "Everyone is entitled to their own opinion, but not to their own facts."  In Delegate Rick Snuffer's opinion piece entitled "Obama's Latest
    Rachel Huff Charleston I think we've all heard the statement "Everyone is entitled to their own opinion, but not to their own facts."  In Delegate Rick Snuffer's opinion piece entitled "Obama's Latest

We have all listened in disbelief to the growing talk about America's economic decline. While our country remains a beacon of inspiration and opportunity to the world, it's obvious to every observer that our luster has dulled in recent years. 

As Washington imposes regulation after regulation, business leaders have looked on with frustration. For decades, people from around the world have viewed America's economy with admiration, not because of our stifling regulations, but rather the innovation and free nature of our private sector. 

Today, some in Washington, D.C., want to enact further burdens by specifically targeting one of America's most vital industries: energy. Although energy is the lifeblood of our economy, some politicians still want to repeal domestic and international tax credits for the U.S. energy sector. This move would have catastrophic consequences for jobs and would be a major blow to the U.S. economy. This policy would give a leg up to foreign competitors by hitting American companies with significantly higher taxes. Our elected officials should know that these burdensome regulations will drive away American jobs.

As someone who has owned and operated businesses my entire life, specifically in energy and technology sectors, I can attest to the influence tax policies have on the private sector and a company's future outlook. Establishing dramatically higher taxes for American businesses will set a dangerous course for the economy and will certainly not persuade companies to start hiring again. Experts estimate that hundreds of thousands of jobs and billions of dollars in economic output could be lost if irresponsible tax policies are approved in Washington. 

I strongly believe America's business sector can be a leader, competitor and engine for global prosperity once again, but the government must refrain from onerous tax policies. 

Patrick Esposito Sr. is a small businessman from Morgantown, West Virginia

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