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The Truth About Creating Jobs in America

Is Obama "The Candy Man"?"We can rebuild our schools for the 21st century, with faster Internet, and smarter labs, and cutting-edge technology. And that won’t just create a better learning environment for students -- it will create good jobs for local construction workers.

Last week, I visited a bridge in Cincinnati that connected Ohio to Kentucky. Bridges need renovations. Roads need renovations. We need to lay broadband lines in rural areas. There are construction projects like these all across this country just waiting to get started, and there are millions of unemployed construction workers ready to do the job."

Barack Obama
September 27, 2011

You may have noticed that I have been writing less lately. It’s not that I don’t care; it’s just that I’m having a tough time listening to Obama talk.

Every time he opens his mouth, all I can think of that old Sammy Davis song – The Candy Man (everyone sing along):

Who can take tomorrow, dip it in a dream
Separate the sorrow and collect up all the cream
The Candy Man, the Candy Man can
The Candy Man can 'cause he mixes it with love and makes the world taste good

Our president sounds like a broken record -- "the rich must pay their fair share, the Buffet Rule, and oh yeah -- more candy for everyone else if you just vote for me."

Suspension of Reality

The problem with Obama’s super-charged class warfare demagoguery is that he is the president and far too many people in this country think he is “the smartest man in the room.”

Dopes still believe that jobs that are fabricated by a bankrupt government that has no money to pay for them are real jobs that help the economy.

I’m sure that there are 50 year-old street sweepers in Greece who just got laid off in an austerity measure who believed this too. Or a 75 year Greek pensioner who never imagined that his meager “Social Security” check would be cut by 10% and then cut again by another 4% just to keep his nation from stumbling into the dark ages. But that’s the reality of Obama’s “tomorrow dipped into a dream.”

Have you looked at what is happening in Greece – this week?

Greek lawmakers passed a property tax bill on Tuesday — part of an accelerated strategy in which the government will cut the 730,000 public workforce by a fifth, reduce the public wage bill by 20%, and lower overall pensions by 4% in addition to the 10% cut already agreed to in previous plans. The new real estate tax will be extended until 2014, two years longer than originally planned (source).

That’s the reason I’ve stopped listening to Obama. Fast forward his “dream for America” and you have Greece 2012.

The Voice of American Job Creation

Today, the great entrepreneur Charles Schwab joined a long list of American CEO’s laying the blame for today’s jobs malaise directly at Obama’s feet.

He wrote a very powerful opt-ed in the Wall Street Journal titled Every Job Requires an Entrepreneur in which he said:

“We can spark an economic recovery by unleashing the job-creating power of business, especially small entrepreneurial businesses, which fuel economic and job growth quickly and efficiently. Indeed, it is the only way to pull ourselves out of this economic funk.
But doing so will require a consistent voice about confidence in businesses—small, large and in between. We cannot spend our way out of this. We cannot tax our way out of this. We cannot artificially stimulate our way out of this. We cannot regulate our way out of this. Shaming the successful or redistributing income won't get us out of this. We cannot fund our government coffers by following the "Buffett Rule," i.e., raising taxes on Americans earning more than $1 million a year.
What we can do—and absolutely must—is knock down all hurdles that create disincentives for investment in business.”

Jobs: The American Way

A lot of liberal pundits argue that it is the “lack of demand” and not Obama’s policies that are keeping businesses from hiring. It's true that demand is way down and why would anyone increase their operating cost to build capacity if no one wanted to by their goods or services?

The problem with the simpleton line “there is a lack of demand” is the next words that come out of their mouth – “so the government needs to stimulate demand” (by handing out money they don’t have).

Every boom in America has created new jobs and every boom in America started the same way; private investors and private businesses invested in expanding private sector companies in advance of demand so that they would be able to capitalize on future demand. Then these newly hired workers spent their private sector funded paychecks and voila -- demand returned!

The Power of Private Capital

As I have pointed out several times, the amount of private capital that is sitting on the sidelines thanks to Obama is at record levels. Forbes has pegged it at $15-20 trillion!

That’s 30 to 40 times the size of Obama’s Job’s bill and the best part; we can get it into the economy without creating new debt!

Schwab has pointed out half of the problem; every time Obama opens his mouth, he describes a vision for America that will increase the cost of doing business in the future. There’s the increased cost per employee and $2 trillion in new taxes to fund Obamacar e, the billions in compliance costs from Dodd/Frank, and now $2 trillion in new private sector taxes to fund Obama’s anti-business, pro union, pro-government worker Jobs Plan.

Schwab’s right, we must pretty much repeal everything Obama has done and stop him from doing further damage, but that’s not enough – the hole is too deep.

The time has come for Washington to lead the economic recovery of the private sector by supporting their growth and expansion.

Government Job Programs The Will Work

Over the past few weeks, I have written about two ideas that would immediately draw private capital back into the American economy at record levels and create millions of new jobs.

The first idea was something I called “The Private Capital Recovery Act.” It simply drops the capital gains tax for American businesses that create jobs and freezes that lower rate for the 5-7 years it typically takes to see a profit from serious venture capital investing. Interestingly enough, this is pretty much the opposite of Obama's so-called "Buffet Rule," which proposes to raise capital gains taxes -- virtually assuring years of recession.

The second idea was called "A Jobs Plan that Obama Won’t Touch!", that mirrors the economic engine that fueled a full recovery in Canada by developing the vast Bakken sand oil fields in the northern plain states. Few people realize that we have more oil in this region than Saudi Arabia (the world’s largest oil exporter) and needless to say, this one product without any shortage of demand.

These are just two ideas for promoting private sector growth that cost the American people nothing -- I’m sure there are more. The point is, the jobs problem in America has two sides; Obama is doing everything he can to discourage hiring and doing nothing to encourage job growth.

And that’s the truth about creating jobs in America in 2011.

Dave

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The Truth About Creating Jobs in America
Wednesday, 28 September 2011

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