Business Economics on Ballot The American economy largely relies on large corporations for generating growth and wealth. That engine is under attack on numerous counts by politicians looking to stoke voter support by creating a scapegoat. Democrats have pledged to raise the corporate tax rate from 21 percent to 28 percent. Both political parties’ presidential candidates want to deny the takeover of U.S. Steel by Japan’s Nippon Steel. The only rationale is that the United Steelworkers Union opposes the business transaction despite Nippin’s vow to not cut jobs. The union and politicians have concocted national security as the concern, but Japan is a close ally, and the U.S. government can dictate on security concerns regard...

TAGS – North America, Macroeconomics