Uninvestable
Honestly, I’m not even sure this was a word until a couple of days ago. Kevin O’Leary, famous financial investor from Shark Tank, appeared on CNN and declared four very important states are “uninvestable” due to a number of financial and business reasons.
Which four states? New York, New Jersey, Massachusetts, and California.
Specifically, why are they uninvestable? Taxes. Regulatory requirements. Labor laws. Just to name a few.
This is an exceptional case of “you get what you vote for”. These states are all deeply Democrat run and have been for a very long time. The policies and bureaucracy set in place by the long line of blue administrations are finally reaping the disastrous decisions of the elected leaders as far back as people can remember.
Punishing large corporations and big businesses already established in these states by levying heavy taxes pushes them out and into places like North Dakota, or worse yet, out of the United States completely. Compounding the issue, companies looking to establish themselves in these states see the taxes and evaluate the cost benefit, or lack thereof, to build or buy and it drives them away. These states don’t even benefit for a short time from the high taxes because there is no incentive for businesses to start there to begin with, they just go somewhere else.
There is more to it than just taxes and fees. Some of it is local culture and whether or not a state or city wants the business there at all. Many large corporations from the firearms industry have moved from historically friendly locations due to culture shifts, legal issues, and business moves out of states like New York, Connecticut, California, and even Colorado, to North and South Carolina, Florida, Texas, and Wyoming where the local population and governments have welcomed them with open arms.
By the way, it isn’t just “gun companies” that are moving to more hospitable locals. Don’t forget Elon Musk packed up his companies and moved them for all the same reasons. He moved an EV company, not a gun company, for the same financial and political reasons.
These problems are not limited to individual states and certainly not limited to just the US. Political decisions weighed against businesses by national level governments have huge impacts, too. Do you think anyone is investing in Venezuela right now? Not a chance. Are you in support of the Brazilian Government shutting down the social media platform X? Good for you. Do you know who sees that as a significant issue? Large companies. They are already divesting out of Brazil as a result.
Companies only care about politics when it impacts them. They will go where their lives are easiest and they can make the most money. If that is Africa or East Asia, then that’s where they are going to go. If they have no incentive to build or stay in the United States, they won’t. If the local culture doesn’t support their product or their own corporate culture, they will leave. It really can be that simple. They have ZERO obligation to stay.
And who suffers for this? Individual workers and their families. Local small businesses like gas stations, restaurants, and apartment complexes that support the people who work in those large companies. Cities and states who no longer get any tax revenue from those businesses. Ask yourself, would you rather get a 2% tax payment from a billion-dollar corporation, or none at all? Would you rather have a factory that supplies 5,000 jobs along with another 1,000 jobs in local supporting businesses, or none at all?
Have you ever seen a city or town that was dependent on a large business AFTER that business leaves or shuts down? It’s devastating. Go ahead and take a trip to the former steel towns in Pennsylvania and let me know how that looks to you, even decades after.
Those four states have made themselves uninvestable through their own voting and their own legislation. These are self-inflicted wounds. People actually voted for this. They wanted this type of leadership. I have to believe it is because they were misled or flat-out lied to. No one who has a family to support would ask for this. These cities and states voted for this. Now, the same party that is pushing this type of uninformed, ignorant, and short-sighted political decisions are asking you to vote for more of this at the NATIONAL level.
If you do, understand it will no longer be limited to New York, New Jersey, Massachusetts, and California. Voting Democrat in November will make the entire United States….Uninvestable.