The American entrepreneur is extremely resilient. This is evidenced by even a paltry 1.9% growth rate in the face of staggering regulation, looming health insurance burdens, and uncertain taxes.
The one thing business needs to thrive is certainty. That is the thing above all others that they have lacked from the current administration. Business will find a way to grow and profit in any environment so long as the environment is stable.
Business people need to be able to plan in five and ten year terms. If a businessman presents themselves for a business loan at a lending institution, the first thing the institution wants to see is a five year business plan. You would think the administration would understand that since that is what the government’s small business administration website advises, but no.
This administration, through its regulators and legislation changes the business landscape on an almost daily basis. The health care law is hideous. Dodd-Frank is just as bad, yet in spite of this daily turmoil our producers and providers have still managed to eek out some meager growth.
To fix the problem is really fairly simple. Government get out of the way. Stop helping! No more helping! It was helping people who could not afford to buy a house buy houses that got us into this mess to begin with. It was helping commercial banks get into the investment banking business that got us into this mess. Helping doesn’t help.
This country was founded on people helping themselves and their own neighbors, not on government help. Every time the government helps, it makes those whom it is trying to help worse off.
Fixing the economy in five simple steps:
1. Repeal Obamacare
2. Repeal Dodd-Frank
3. Reinstate Glass-Steagall
4. Pass the Mack-Penny budget plan
5. Go to a flat 20% income tax with only mortgage, charitable and health savings account deductions.
Then do nothing else. America will fix its own economy if given half a chance.
I’m just sayin’