Michael Shedlock has delivered a masterful diatribe against government’s small business blockade today, his central point being that startups have been the source of all net job creation since 1977.
His thesis is that government-as-venture-capitalist, selecting which companies to lend directly to, is an inherently failing policy and that taxation of small business is the best way to drive hiring, profits and activity offshore.
Within the the post he lays out some solutions, a bullet sheet with ten items that could help create jobs…
How to Create Jobs
- Slash corporate income taxes.
- Scrap Davis Bacon and prevailing wage laws. Please see Thoughts on the Davis Bacon Act for more on the insanity of prevailing wage laws.
- Privatize jobs held by public unions. Firing Public Union Workers Creates Jobs.
- Require competitive non-union bidding on all projects involving Federal funds.
- Legalize hemp for use in bio-fuels and clothing.
- Kill crop subsidies
- Allow drug imports from Canada
- Simplify the tax code
- Open up medical insurance across state lines
- Stop attempting to be the world’s policeman
Those are 10 easy things we can do that will foster job creation over the long haul (directly in some cases, indirectly in others buy putting more money in people’s pockets). In general, government needs to get the hell out of the way and reduce taxes so people and businesses have more money to spend.
I agree with a bunch of these items, especially the bit about opening medical insurance across state lines and who doesn’t, at least in public, agree on the need to simplify the tax code?
Bleak Outlook for Small Business and Job Creation (Global Economic Trend Analysis)
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