Letters to the Editor: The more we punish businesses, the less positive economic news we’ll have
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To the editor: The Los Angeles Times does L.A. and California readers a disservice in lauding each positive economic news story as proof of our “enduring attraction” as a place to do business (“Billionaire exodus? California drew 10 times more venture capital than any other state this year,” July 10). I speak with employers every day and it is clear hyper-regulation in California is, as former gubernatorial candidate and San José Mayor Matt Mahan asserted, driving up costs, pushing out jobs and limiting opportunity. But this message did not resonate with voters, in part, because The Times frequently characterizes efforts to rationalize business regulation as support for billionaires and Republicans.
Top talent and great weather are why California continues to attract investment. A friend and business owner recently quipped, “At least our government can’t ruin the weather.” If we continue to punish investors and businesses with over-regulation and over-taxation (like the billionaire tax), the positive economic news stories for L.A. and California will be few and far between.
Bernie Resser, Los Angeles
