OBAMA: LISTEN UP! GOVERNMENT DESTROYS JOBS ENTREPRENEURS CREATE THEM
Obama is dead wrong about jobs. Government does not create them. Entrepreneurs create them. The latest study of entrepreneurship shows that nearly 2/3 of net new jobs are created by new, young companies less than five years old.
Obama’s proposal to provide incentives for new hires should be DOA (dead on arrival) in the Congress -- IF there were any members of Congress who understood how jobs are created. Businesses hire when there’s demand for their products and services. A business owner would be a fool to put someone on payroll just to get a small government incentive.
Obama’s proposal to provide tax incentives for investment in “small business” is also misguided unless the business is less than five years old and investment comes in the right form. New or young enterprises need equity capital, not tax incentives or loans. Some states show the way. They provide tax incentives to those who invest “patient money” in promising new and young enterprises.
A government that builds huge deficits destroys jobs by taking capital out of private hands. Thus, there’s less to invest in new, young and innovative enterprises -- less job creation, less innovation.
No wonder China is getting the jump on us!
Congress and the 1st Congressional District in New Hampshire could use a Doctor of Economics who knows how to generate enterprise and jobs -- and who would be a truly strong, effective voice against the Obanomics that threatens to destroy jobs and bankrupt our nation.