The U.S. trade deficit has hit an all-time high, and Iowa Congressman Jim Nussle says three “problem areas” are driving American companies to other countries. One he cites is the United States tax code. Nussle says the more you tax them, the more they look for ways to make money “in other areas.” He says laws and lawsuits are another thing that put a chill on business. He thinks the biggest factor is liability, particularly as it’s driven up healthcare costs, saying too many lawsuits are filed over healthcare and product liability. He cites malpractice insurance costs that have grown so high that doctors aren’t delivering babies in 33 Iowa counties, saying young families won’t move to those counties and neither will business. Nussle says the suits add up. Nussle says there are “too many people suing at the drop of a hat” and being a litigious nation is driving away big companies, but will also affect us here locally. A member of the House Ways and Means Committee, Nussle says regulations on business also cause headaches. Nussle says while we should be concerned with safe products and clean air and water, some regulations add only paperwork and don’t increase safety.
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