Jobs, jobs, jobs
August 31st 2009 10:50
Despite the worst economic downturn since the Great Depression, Barack Obama chose to move full speed ahead with his political agenda upon taking over in January. Seven months later, the economy continues to languish, the national debt is growing to unprecedented levels, and Obama's approval numbers are tumbling lower each day. If I could offer the president some advice, this is what I would tell him to focus on:
Jobs, jobs, jobs.
When unemployment (as well as underemployment) is high, the national mood deteriorates precipitously. Hopelessness sets in and folks start looking for someone to blame. Where do they look for a scapegoat? They look to Washington. The Democrats control the White House, the Senate, and the House of Representatives, and they will get the blame. The way to begin lifting the nation out of the doldrums we're in is to revive the job market. Put the brakes on other agenda items -- especially those that will drive the country further into debt. Then, do something to spur job creation in the private sector.
Democrats frequently talk about raising taxes on businesses, but we already have one of the highest corporate tax rates in the industrialized world. If the Democrats want to spur the creation of private sector jobs, they could offer significant tax breaks for companies that create jobs here in America. That may seem counterintuitive, but the loss in taxes from corporations would be offset by the taxes paid by newly employed workers. Those newly employed workers would, in turn, spend money on goods and services. This would result in increased sales for a wide variety of businesses.
So the president should slow his roll and start focusing on reviving the job market. That is the one surefire way to both lift the country's mood and get our economy going again.
Jobs, jobs, jobs.
When unemployment (as well as underemployment) is high, the national mood deteriorates precipitously. Hopelessness sets in and folks start looking for someone to blame. Where do they look for a scapegoat? They look to Washington. The Democrats control the White House, the Senate, and the House of Representatives, and they will get the blame. The way to begin lifting the nation out of the doldrums we're in is to revive the job market. Put the brakes on other agenda items -- especially those that will drive the country further into debt. Then, do something to spur job creation in the private sector.
Democrats frequently talk about raising taxes on businesses, but we already have one of the highest corporate tax rates in the industrialized world. If the Democrats want to spur the creation of private sector jobs, they could offer significant tax breaks for companies that create jobs here in America. That may seem counterintuitive, but the loss in taxes from corporations would be offset by the taxes paid by newly employed workers. Those newly employed workers would, in turn, spend money on goods and services. This would result in increased sales for a wide variety of businesses.
So the president should slow his roll and start focusing on reviving the job market. That is the one surefire way to both lift the country's mood and get our economy going again.
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