Join America's Roundtable radio co-hosts Natasha Srdoc and Joel Anand Samy with Bill Yeargin, president and CEO of the iconic boat manufacturing company Correct Craft which will be celebrating its 100th anniversary in 2025. Correct Craft's notable brands include Nautique, Centurion, Supreme, Bass Cat, Yar-Craft, SeaArk, Parker, and Ingenity boat companies, Pleasurecraft Engine Group, Indmar Marine Engines, Velvet Drive Transmissions, Mach Connections, Merritt Precision, Osmosis, Watershed Innovation, and Aktion Parks.
Bill Yeargin also serves as chairman of the National Marine Manufacturers Association with 1,300 member companies producing an estimated 85 percent of the boats, engines, trailers and accessories used by boaters and anglers throughout the U.S. and Canada.
The conversation highlights Bill Yeargin's recent op-ed piece in CEO World Magazine titled, "Losing Capitalism," in which he relays concerns about the strong headwinds that are blowing against the ideas of economic liberty and free markets. "I am a CEO, not an economist, and I confess to having a strong affinity for capitalism. I believe if you want to help people, you should start a philanthropic organization. If you want to help a LOT of people, start a business. Capitalism is the undeniable wealth creator, but right now it is on life support." — Bill Yeargin, Losing Capitalism, CEO World Magazine
The timely conversation also focuses on economic polices being presented including a major tax hike on businesses which will adversely impact small companies and workers, and schemes that will halt investments in America. As tax competition for lower rates continues around the world, America may well become an economic laggard with businesses leaving its shores for low tax jurisdictions.
The Wall Street Journal's editorial board opined by stating:
"The Democratic team that brought you declining real wages is now threatening to lower your pay again. That’s the practical effect of Kamala Harris’s idea to raise the U.S. corporate tax rate to 28%, and it’s instructive that an anti-growth tax increase is one of the Vice President’s few distinctive policy priorities so far. Ms. Harris’s endorsement Monday of a 28% rate, up from the current 21%, signs onto what President Biden has been proposing."
Over the decades, there have been certain forces decrying the ills of capitalism and making unsubstantiated claims. The think tank The Institute of Economic Affairs, which offered reformer Margaret Thatcher strategic ideas on turning Great Britain away from socialism in the 1970s and 1980s states: "...but when we see such unsubstantiated claims, we should remember; the data simply doesn’t support the anti-capitalists."
The discussion also raises the concerns of skyrocketing government spending. Milton Friedman, Nobel prize winner in economics and founding partner of International Leaders Summit (the think tank which launched America's Roundtable) said: “Keep your eye on one thing and one thing only: how much government is spending, because that's the true tax … If you're not paying for it in the form of explicit taxes, you're paying for it indirectly in the form of inflation or in the form of borrowing."
Bill Yeargin authored a number of books including the bestseller, "Education of a CEO", "Making Life Better" and the recently released "Faith Leap" - now available on Amazon.
In an earlier episode on America's Roundtable, Bill Yeargin shared about his experiences in the business arena and the principles which guided him and his company through a major transformation from $40 million in sales in 2009 to over $1 billion annually.
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America's Roundtable is co-hosted by Natasha Srdoc and Joel Anand Samy, co-founders of International Leaders Summit and the Jerusalem Leaders Summit.
America’s Roundtable radio program - a strategic initiative of International Leaders Summit, focuses on America’s economy, healthcare reform, rule of law, security and trade, and its strategic partnership with rule of law nations around the world. The radio program features high-ranking US administration officials, cabinet members, members of Congress, state government officials, distinguished diplomats, business and media leaders and influential thinkers from around the world.
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