Kevin Price
Obama boasts about jobs created by the Census
By Kevin Price
Currently the United States suffers from the worst unemployment in over a quarter of a century. The recent (and modest) job growth the US enjoyed last month was largely created by the government at the tune of 95 percent, according to CNN Radio. One of the biggest areas of growth in government was by the Census Bureau and President Obama boasted about it in a recent speech, stating that "This report is a sign our economy is getting stronger by the day." In reality, 411,000 of the 431,000 jobs created were government.
The President's economic agenda is fundamentally adverse to job creation. The only employment government can create is sustained through more taxes. Government cannot create jobs that last or create value, but jobs that undermine economic freedom and prosperity. There has to be a better way. The need for that "better way" is greater now than ever:
© Kevin Price
July 2, 2010
Currently the United States suffers from the worst unemployment in over a quarter of a century. The recent (and modest) job growth the US enjoyed last month was largely created by the government at the tune of 95 percent, according to CNN Radio. One of the biggest areas of growth in government was by the Census Bureau and President Obama boasted about it in a recent speech, stating that "This report is a sign our economy is getting stronger by the day." In reality, 411,000 of the 431,000 jobs created were government.
The President's economic agenda is fundamentally adverse to job creation. The only employment government can create is sustained through more taxes. Government cannot create jobs that last or create value, but jobs that undermine economic freedom and prosperity. There has to be a better way. The need for that "better way" is greater now than ever:
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Our nation is suffering from the largest unemployment rate in recent history. It is, in fact, much higher than the near 10 percent touted by the Obama Administration. Economic analysts of all political persuasions believe it is much worse simply because of the huge number who are not looking any longer.
The war on job creation. Most jobs come from those who make upwards of $250,000 a year, but this group is being singled out to cover the vast majority of the tax burden. Recently it has been reported that less than half of the population actually pay taxes, clearly lower income groups need some "skin in the game" so they will be encouraged to keep government more accountable. Furthermore, the tax burden on the rich is creating a very hostile environment when it comes to jobs. Capital can move too easily to other countries for the government to keep rates at such excessively high levels.
Inflation is on the rise. On one day alone last year the federal government pumped $1.4 trillion in the money supply in order to pay some of its recent bills and to "jump start" the economy. Inflation is simply caused by "too much money chasing too few goods." As more money is produced, the value of all dollars go down. This wicked form of taxation (on the value of dollars) destroys economic prosperity and job growth.
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Eliminate the barriers between people and jobs. This isn't through temporary government jobs that will run out with the subsidies and reduce private sector employment through taxes, but through real jobs that create cash flow for employment to grow in number and in quality. The federal government should mandate the states to have a minimum wage law of their own and allow them to set them based on the needs of the people and the cities. This would not cost the federal government a penny, but would spur economic activity immediately.
There should be a moratorium on corporate taxes, because they do not actually pay taxes, but are only tax collectors. Taxes are a fixed cost for doing business. If taxes are too high, businesses have no choice but move to other countries where the rate is less so they can lower prices and be more competitive. This would have a positive impact on high quality job creation. This policy would also encourage an increase in productivity and soften the blow of inflation (since it would increase the number of goods to be chased by the new money).
The government should end taxes on wealth creation altogether and replace income tax with a sales tax. This would eliminate the economic genocide against job creators and would more fairly spread the financial burden of government on all economic groups. This, in turn, would lead to a more responsible voting population who would have more incentive to keep the government fiscally responsible.
© Kevin Price
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