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ThoughtsOnline

Wednesday, September 07, 2011


Growth comes from increases in spending and production. Increases in spending and production can only come from people and businesses who have the money and motivation to do so. The key therefore is to get these people to open up their wallets.

With this in mind, and not that he will listen, but here are some things Obama could push in his 'jobs' speech on Thursday night...

* Make it easier for businesses who want to hire to do so. Raise the employee threshold at which businesses become subject to various workplace rules and regulations (such as FMLA and ADA). Allow a business that hires someone during the next six months to fire that person for any reason during the first six months of employment.

* Freeze current individual tax rates and limits on deductions. Removing the fear that taxes are going to go up removes a huge incentive for people to hoard money.

* Allow multi-nationals to bring home foreign earned profits TAX FREE, provided they pay out that amount in dividends. This would not only put a ton of money in the hands of people to spend, the taxes paid on those dividends will generate a fair amount of tax revenue.

* Roll back the minimum wage. Why not let someone take a job for $6 an hour than sit home with no job at all?

* Open up domestic drilling and exploration for oil and gas. This will not only increase employment, it will put long term downward pressure on gas and energy prices, freeing up cash for just about everybody.

* Eliminate the requirement that government projects pay wages at the union level. This would effectively give the federal, state and local governments 25% more buying power for their construction dollars.

* Hold those reponsible for filing (unsuccessful) lawsuits against construction projects for the cost increases resulting from the delay. There isn't much that is truly 'shovel ready', but these nuisance lawsuits make everything that much less 'shovel ready'. If a plaintiff can't win their case, then they should have to pay for whatever costs are incurred as a result of the delay they caused.

* Make it easier to start a business. Eliminate the rules that restrict people from getting into various industries.

* Change the climate. Stop demonizing businesses and the people who run them. Stop complaining that the rich don't pay enough in taxes. \

* Pledge to keep government spending at no more than what was spent last year.