You Can’t Legislate Morality

The immorality of the feeding frenzy against American businesses is tragic. Politicians say they care about American business, yet they constantly demonize it, saddling it with regulations, increased taxes, complicated accounting regulations and ever-changing tax codes, and they make no effort toward tort reform. They are killing American business and it’s immoral.

My grandfather came to this country in 1907. He was a sculptor. He carved beautiful statues and flowers in stone. After working for someone in Barre, Vermont for ten years, my grandfather moved to Connecticut in 1927 and established his own business. In that ten-year period we passed the income tax amendment, we established the Federal Reserve, we got involved in World War I, we pushed for the League of Nations, and the homogenization of America began.

Millions of immigrants, like my grandfather, came to this country because of the guarantee of personal freedom. Freedom to succeed, freedom to fail—regardless, the prospect of liberty was, and always will be, appealing. Over the past century, United States citizens have endured at every level ever-expansive government and equally intrusive impingement upon personal freedom. This is immoral.

They have successfully created class warfare, jealousy, envy and outright hatred among citizens.Look at some of the things that have transpired recently. In order to protect the teachers’ union, Washington D.C. put a halt to the city’s school voucher system that allowed parents to choose their kids’ schools. Tuition vouchers offered opportunity to children in this depressed inner city but in one fell swoop the elite ruling class took it away. That’s immoral.

Enron used smoke and mirrors to sell energy, created a billion dollar corporation, gave tons of money to politicians, did not manufacture a thing, and created hidden accounting through backdoor earnings reclassification in order to “look good” on the books. Yet, knowing the house of cards was about to collapse, executives were unloading stocks while recommending that employees buy stock. The C-level folks were telling Enron employees their stock was a good buy. This is immoral.

What did the rest of us get as a result? The Sarbanes–Oxley Act, which forced corporations to spend tens of thousands, if not hundreds of thousands, to implement new accounting practices. It’s immoral. A vast majority of U.S. corporations were already spending small fortunes to ensure honest accounting practices.

Add to the corporate burden frivolous lawsuits and the constant increase expense of running a business like health insurance premiums, energy costs, liability insurance, etc., and you wonder why corporations have to go overseas to have products made. They’re driven there. It’s immoral. The end result is more costs passed onto consumers and few jobs.

This latest technique used to demonize corporations is class warfare. We hear catch phrases and sound bites all the time from politicians and they are parroted by conventional media: “Oil companies make too much profit.” “Car companies make too much money.” “Health insurance companies are gouging everybody.” “Big business….”

Do you know the average profit for health insurers is about 2%? Politicians either do not know what they are talking about or they are purposely being deceptive. For politicians to use gross generalizations and deceptive catch phrases just to pass themselves off as champions of the people is immoral.

Most people are smart enough to understand that a company doing $10 Million in annual revenue pays most of that money out in salaries, insurance, energy costs, materials, etc. If they are lucky, the company realizes a 2-3% profit, or $200,000 – $300,000. Don’t you think at the very least the owners deserve that profit margin for the risks they incur?

By the way they’ve been acting lately, politicians apparently do not think so. They have successfully created class warfare, jealousy, envy and outright hatred among citizens. That is immoral! And you can’t legislate morality.

Chuck Piola - In 1991, Inc. magazine dubbed Chuck Piola the King of Cold Calls for good reason. His then five-year-old partnership had grown by leaps and bounds ranking in the Inc. 500 three consecutive years. There was no magic to the accomplishment just grit, determination, and a lot of shoe leather. Subscribe to Chuck Piola - The King of Cold Calls by Email

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