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The past several months have been filled with uncertainty. Everyone wanted to wait and see who would be our next president and how the political landscape might change. Now the elections are over, and the polls are all closed, so we should all be getting back to business, right? Publisher Michael Goldstein shares insight from our state-of-the-gear-industry survey.
A few years ago, during a presidential election campaign, I saw an editorial cartoon that depicted a man standing outside a voting booth with a bemused expression on his face. Over the door to the booth was a quotation from Dante: "Abandon hope, all ye who enter here." Unfortunately for all of us, the grim jest is just as timely now. Once again, when we make our choice for president this year, the pick seems to be between Mr. Well-He's-Not-Actually-Awful and Mr. At-Least-He's-Not-The-Other-Guy. A candidate who can arouse truly positive and hopeful feelings in the electorate is once again not on the ballot.
Taxes may be one of the only two sure things in life, but that doesn't make them popular. Nobody is happy to pay them, and the bigger the amount due, the unhappier the taxpayer. Conversely, politicians know that coming out in favor of a tax cut is the equivalent of voting for apple pie and motherhood. It's a sure-fire success at the ballot box.
Of timing is crucial in the successful implementation of good ideas, then now is the time to reinstate a good idea that fell into disfavor in the mid-1980s. Now is the time to include the investment tax credit as part of whatever inevitable tax structure tinkering is going to take place during this election year.
A good many things bother me about election years - the annoying sound bites, the negative commercials, the endless political over-analysis. But what bothers me most about the coming election is this: So far (when I'm writing this, it's admittedly early in the campaign) there's little or no talk about what is one of the most critical national issues of the next thirty years - our growing government debt.
In the approximately 15 years that I have been writing editorials for Gear Technology, I've purposely avoided certain topics. Sex, religion and my own used gear machinery business are among the subjects that have always been off limits. But with this issue, I'm going to break one of my long-standing taboos by talking politics.
The two candidates in the upcoming presidential election offer two distinctly different approaches to solving America‚Äôs economic problems -- neither of which is likely to be successful
Publisher Michael Goldstein is confident that the manufacturing economy will continue to grow throughout next year, no matter who wins the 2012 presidential election.