Greg Norman on Fox Business talking about America's failure to Lead, High Taxes, Over-Regulation

[Mr. Desmond]

It was actually lack of oversight and poor regulatory control, not having too much. If you want to count over 170,000 pages of regulations not having enough

I would be a fan of the VAT if all other forms of sales taxes were repealed. It would be stupid to just lump it on.

Yea  a simplified income tax system would be huge as well. As well as a reformed corporate tax system. A huge reason why we loose jobs here is because of our tax system.

I have to agree on that one. His golf dominance was late 80's to mid 90's. That was over 20 years ago.

He clearly has a good business sense. I don't think he's making much on his brand now because of who he was as a golfer. It probably helped out when he left golf and went more towards the business route. I think today his brand is more just his business brand, rather than his golfing brand.

By lack of regulatory control, I should have said "supervision." I understand that financial  regulators were either not funded, not appointed, or were staffed by lobbyist's interests.

Yes, they need to reform the entire tax system. Since the '80's, the global economy has changed and we are still operating under a pre-global, complex tax system.

Lower corporate rates, let them write off capital improvements, eliminate special interest breaks and place most industries on an equal footing other than industries w national security interests.

Norman's apparel attracted mostly older men, from the looks of it. I noticed this year that they have "younged it up" a bit...

As to his steakhouse, depends on the market. But for the last 7 years, the steakhouse concept isn't exactly one that "strapped" folks visit. If he has good food, to attract a larger market, you've got to offer value and a variety of prices.

[saevel25]

Norman's apparel attracted mostly older men, from the looks of it. I noticed this year that they have "younged it up" a bit...

As to his steakhouse, depends on the market. But for the last 7 years, the steakhouse concept isn't exactly one that "strapped" folks visit. If he has good food, to attract a larger market, you've got to offer value and a variety of prices.

The problem with restaurants are they are all too similar. Steak houses are a dime a dozen really. Usually they are more expensive. I can easily see steak houses having tougher times over the past 5-10 years than other types of restaurants.

[skydog]

The problem with restaurants are they are all too similar. Steak houses are a dime a dozen really. Usually they are more expensive. I can easily see steak houses having tougher times over the past 5-10 years than other types of restaurants.

Agreed. I've never been quite sure why someone would pay their own dime to go to any one of the countlessly generic athlete steak houses across the country (Shula's, Elway's, Norman's etc). I've been a few times to them for work meetings (not on my dime) but in any of the cities they're in, there are typically many more unique, better, and less expensive restaurant options out there. Like opening a vineyard it seems like much more of self-serving status symbol for these ex-athletes rather than an actual money making venture.

As for Norman, he's an arrogant blowhard. We all know that U.S. businesses (and individuals) are amazingly overtaxed and over regulated, we don't him to tell us that.

[MS256]

Agreed. I've never been quite sure why someone would pay their own dime to go to any one of the countlessly generic athlete steak houses across the country (Shula's, Elway's, Norman's etc). I've been a few times to them for work meetings (not on my dime) but in any of the cities they're in, there are typically many more unique, better, and less expensive restaurant options out there. Like opening a vineyard it seems like much more of self-serving status symbol for these ex-athletes rather than an actual money making venture.

As for Norman, he's an arrogant blowhard. We all know that U.S. businesses (and individuals) are amazingly overtaxed and over regulated, we don't him to tell us that.

I wonder that about all endorsements and I doubt if anybody I know would admit to buying much at all because of advertisements or endorsements.

Problem is that everybody I know would either be lying or mistaken or not typical according to data.

BTW I go to Baumhower's Restaurant whenever I get the chance but I'm holding out that it's the food and service instead of being owned by a former football player.

[cubdog]

As for Norman, he's an arrogant blowhard. We all know that U.S. businesses (and individuals) are amazingly overtaxed and over regulated, we don't him to tell us that.

I agree! More importantly though I love your avatar and user name.

cubdog

[saevel25]

As for Norman, he's an arrogant blowhard. We all know that U.S. businesses (and individuals) are amazingly overtaxed and over regulated, we don't him to tell us that.

Sure we do, because there are A LOT of people in this country brainwashed by the liberal agenda to think that they are not overtaxed and over regulated.

[skydog]

Sure we do, because there are A LOT of people in this country brainwashed by the liberal agenda to think that they are not overtaxed and over regulated.

True, but unfortunately there isn't much hope (or change) for those sad souls regardless of what the Shark says.

[newtogolf]

Sure we do, because there are A LOT of people in this country brainwashed by the liberal agenda to think that they are not overtaxed and over regulated.

The people that think they are not over taxed are typically the ones that are not working (very rich and poor).  The very wealthy are making a good portion of their income off capital gains or are so rich (Buffet, Gates) they don't worry about income tax rates.  The poor are benefitting from all the free programs, EBT cards, etc and aren't paying any taxes so they aren't likely to care either.

IMO, over regulation is the result of our Federal Government believing it's their responsibility to create another level of public dependency (government jobs) beyond welfare that requires its continued growth into areas it was never intended to get involved with.

[MSchott]

The people that think they are not over taxed are typically the ones that are not working (very rich and poor).  The very wealthy are making a good portion of their income off capital gains or are so rich (Buffet, Gates) they don't worry about income tax rates.  The poor are benefitting from all the free programs, EBT cards, etc and aren't paying any taxes so they aren't likely to care either.

IMO, over regulation is the result of our Federal Government believing it's their responsibility to create another level of public dependency (government jobs) beyond welfare that requires its continued growth into areas it was never intended to get involved with.

In my case, my family is decidedly Middle Class and I don't at all think I'm over taxed. Compared with many other nations we are severely under taxed and the result is our crumbling infrastructure, poor education system, extremely high cost of secondary education and the widening gap between the middle class and the wealthy. I am more than happy to pay taxes to help those who need it.

But to keep this on golf, Norman is no different than most pro golfers who are wealthy and politically Conservative. Most PGA pros come from Country Club backgrounds which are very much bastions of wealth and power.

[newtogolf]

In my case, my family is decidedly Middle Class and I don't at all think I'm over taxed. Compared with many other nations we are severely under taxed and the result is our crumbling infrastructure, poor education system, extremely high cost of secondary education and the widening gap between the middle class and the wealthy. I am more than happy to pay taxes to help those who need it.

But to keep this on golf, Norman is no different than most pro golfers who are wealthy and politically Conservative. Most PGA pros come from Country Club backgrounds which are very much bastions of wealth and power.

This is about golf, so not looking to get too political here.  I agree with all of the bold, the difference between us is I think the Federal government has the money today to fix it all, there is just too much fraud, misuse and abuse within all levels of government.  Let them run the country like I had to run my business and I bet you'll find money isn't the issue it's all the waste that is preventing us from achieving what's important in our country.

As for country clubs being bastions for wealth and power, I can only comment on the ones I've belonged to, and I'd say it's 50/50.  Wealthy people tend to get altruistic in their older age and try to make amends for all the people they screwed while accumulating their wealth.  I think they tend to be fiscally conservative because most have all had to manage money properly in order to acquire their wealth and they see the waste that exists at all levels of government (republicans and democrats).

[skydog]

In my case, my family is decidedly Middle Class and I don't at all think I'm over taxed. Compared with many other nations we are severely under taxed and the result is our crumbling infrastructure, poor education system, extremely high cost of secondary education and the widening gap between the middle class and the wealthy. I am more than happy to pay taxes to help those who need it.

I could spend a few weeks on this paragraph but will refrain as this is a golf forum. I'll just say MSchott that you need a serious lesson in free-market Austrian Economics. Do yourself a favor and pick up a copy of 'The Road to Sefdom' and read it a few times.

[saevel25]

In my case, my family is decidedly Middle Class and I don't at all think I'm over taxed. Compared with many other nations we are severely under taxed and the result is our crumbling infrastructure, poor education system, extremely high cost of secondary education and the widening gap between the middle class and the wealthy. I am more than happy to pay taxes to help those who need it.

It isn't a money issue. It is a system issue. The USA spends more on education than any other nation. It isn't about money, it is about how the money is spent and how the US goes about education.

The problems over the past few decades has never been about the money. It goes much deeper than that.

As for country clubs being bastions for wealth and power, I can only comment on the ones I've belonged to, and I'd say it's 50/50.  Wealthy people tend to get altruistic in their older age and try to make amends for all the people they screwed while accumulating their wealth.  I think they tend to be fiscally conservative because most have all had to manage money properly in order to acquire their wealth and they see the waste that exists at all levels of government (republicans and democrats).

Yep, and lets not forget that the United States has always slightly leaned towards the conservative side, usually by as much as 5-10%. There are 29 conservative governors in the United States, compared to 21 democrat governors. Those are elections won based on a whole state. It isn't electoral college (presidential) or the gerrymandering (Congress) were many of the seats are just constant blue or red 100% of the time.

[MSchott]

I could spend a few weeks on this paragraph but will refrain as this is a golf forum. I'll just say MSchott that you need a serious lesson in free-market Austrian Economics. Do yourself a favor and pick up a copy of 'The Road to Sefdom' and read it a few times.

No thank you. I'm pleased with my current economic philosophy. In doing a quick Internet search, there are many who have serious concerns about Mises' philosophies.

[MSchott]

This is about golf, so not looking to get too political here.  I agree with all of the bold, the difference between us is I think the Federal government has the money today to fix it all, there is just too much fraud, misuse and abuse within all levels of government.  Let them run the country like I had to run my business and I bet you'll find money isn't the issue it's all the waste that is preventing us from achieving what's important in our country.

As for country clubs being bastions for wealth and power, I can only comment on the ones I've belonged to, and I'd say it's 50/50.  Wealthy people tend to get altruistic in their older age and try to make amends for all the people they screwed while accumulating their wealth.  I think they tend to be fiscally conservative because most have all had to manage money properly in order to acquire their wealth and they see the waste that exists at all levels of government (republicans and democrats).

I love when some say you should run the government like a business. The tripartite government in the US is not like any business I know of. No doubt there's waste but until we change the way money effects elections, that will not change. It's the influence of special interests that creates waste and undue influence.

[newtogolf]

I love when some say you should run the government like a business. The tripartite government in the US is not like any business I know of. No doubt there's waste but until we change the way money effects elections, that will not change. It's the influence of special interests that creates waste and undue influence.

Special interest plays a huge part of it, but also there's no motivation on the part of elected officials to manage money properly.

The entire government budget process is broken.  In my business when we spent less money than we budgeted in a specific department, we didn't penalize that department, we rewarded them for being responsible.

In the government, departments are encouraged to max out their budgets out of fear of having their budget cut the next year.  People in government are rated in terms of importance by the size of the budget they oversee, not how profitably or fiscally responsible they are in managing their budget.

I worked at both the Pentagon and NCSC, the waste of money at the Federal level is disgusting.

[jgreen85]

I don't get this "failure to lead" comment. I hear it a lot as criticism. How can someone tell if "America is leading"? I see a lot of business people on the thread, so I assume there are metrics out there to grade the lack of leadership from America from those who agree with Norman's comments.

[dfreuter415]

Compared with many other nations we are severely under taxed and the result is our crumbling infrastructure, poor education system, extremely high cost of secondary education and the widening gap between the middle class and the wealthy. I am more than happy to pay taxes to help those who need it.

Two points:

1) Those nations that tax their people more than the United States are decidedly socialistic in nature.

2) I, too, would be willing to pay more taxes, but only if I could designate where all of my tax dollars would be spent.

[newtogolf]

I don't get this "failure to lead" comment. I hear it a lot as criticism. How can someone tell if "America is leading"? I see a lot of business people on the thread, so I assume there are metrics out there to grade the lack of leadership from America from those who agree with Norman's comments.

America is no longer the #1 manufacturer, it's not the economic powerhouse it once was, our educations system ranks poorly compared to other nations and our national debit is embarrassing.  40 years ago America was the leader of the world, today we are a nation that clings onto our past while it borrows on it's future.