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The Obama "Jobs Summit"
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The Obama "Jobs Summit"
Who In the White House Has Ever Created a Job? By Newt Gingrich Tomorrow, the Obama Administration will hold its much-hyped "jobs summit" in Washington, D.C. Plenty of politicians will bethere, as well as labor bosses and academics. No doubt, some business representatives have been recruited to attend as well.Today, in contrast, a very different group of Americans will kick off a series of "Real Jobs Summits" in Cincinnati. Tomorrow, we will be in Jackson, Mississippi. Instead of politicians who talk deceptively of "saving or creating"jobs, we will have entrepreneurs who have actually created jobs.Instead ofso-called "experts" who offer theories, we will have small businesspeople who know the reality of joblessness in America today.Ask yourself this:As the Obama Administration convenes with the so-called "experts" inWashington, how many in the White House have actually created a job? A Jobs Valley,Not a SummitWhat the Obama Administration is promoting as a jobs "summit" tomorrow is in fact a jobs valley.
After 10 months and the authorization of $787 billion in governmentspending, the economic policies of the White House and the DemocraticCongresshave failed. 15.7 million Americans are out of work, 3.2 million ofthem since the stimulus was first passed in February. Unemployment, at10.2percent, is higher than the President promised it would be if he did nothing. The Obama-Pelosi-Reid economic policies are hurting, nothelping.
The stakes are high, and no doubt the White House and the DemocraticCongress (as does every American) would love to see the jobs numbersimprove. But three fundamental facts of their approach are cripplingtheir effort: - Ideology
- Interest Groups
- Personnel
Number 1: Ideology. Secular Socialism Has Never Worked to
Create Jobs and It Won't Work HereThemainstream media roll their eyes and laugh at the term, but theObama-Pelosi-Reid economic policies are genuinely secular-socialistpolicies.
Their central purpose is not to create wealth but to redistribute wealth.
The problem is this big government, high taxing, big bureaucracy andpolitician driven model simply does not work to create jobs. It was themodelof the United States in the 1970s and the model of Europe today. It hasnever worked anywhere to create jobs and wealth, and it won't workhere.
A Very Different Ideology: Free Market CapitalismAs the Obama-Pelosi-Reid machine attempts to force itssecular-socialist model on Americans in the form of job-killing health,energy, and big laborlegislation, American small business people are crying out for a verydifferent set of solutions. These are the solutions that will take center stage at the American Solutions Real Jobs Summit in Cincinnati today. They are the solutions of Ronald Reagan and the Contract with America. Reduced taxes to spur jobs and investment. Controlled governmentspending to favor entrepreneurs over bureaucrats. Reduced regulationandlitigation to produce jobs and create wealth.If the goal is more jobs, both history and the opinions of Americanbusiness people couldn't be more clear: More economic freedom works,moregovernment doesn't. Number Two: Democratic InterestGroups.
Redistributing Rather Than Creating WealthThe second fact that cripples the Obama-Pelosi-Reid jobs effort is theliberal special interest groups these politicians are beholden to.
Trial lawyers, labor unions and government employees are re distributors of wealth, not creators of wealth.
When Democratic special interest groups meet, there is practically no one in the room who has created a job.
The American Solutions Real Jobs Summits will work with those whocreate jobs and wealth to make their jobs easier and their success morelikely.
Our interest groups are the engines of our economy - the smallbusiness owners and entrepreneurs whose voices aren't being heard inWashington today.
Number Three: The Obama Cabinet.
The Least Private Sector Experience in Over 100 YearsThe third reason to doubt that the Obama-Pelosi-Reid economic policies will produce more jobs is succinctly illustrated in this graph. Itshows that the Obama Administration cabinet has far less private sectorexperience than any administration in over 100 years. A stunning 90percent of the prior experience of the Obama cabinet is in government,not the private sector. These are the people America is supposed to listen to in order to create new jobs? American Solutions, in contrast, is building a Small Business AdvisoryCouncil, a network of entrepreneurs with long experience in jobcreation. The American Solutions Jobs Here,Jobs Now, Jobs First SolutionsThese experienced entrepreneurs have helped us formulate a real planfor real job creation that we can enact right now to create new jobs. - Reduce Spending and Reform Government to Achieve a Balanced Budget.
WhileI was Speaker, federal spending rose by an average of 2.9 percent peryear, the lowest increase since the 1920s. We can apply the sameprinciples that worked from 1995 to 1998 to create jobs and fourstraight balanced budgets through smaller government, less spending,lower interestrates, and less debt.
- Five Tax Reforms to Reward Job Creation, Entrepreneurship, Savings, and Investment.
a. Immediate Payroll Tax Relief. Allow workers and employersto keep more of their hard earned money through an immediate, two-year,50percent reduction of the payroll tax. This step would immediately boostthe take home pay of every worker, and dramatically free up cash foreveryemployer to hire and invest. This tax relief could be paid for withunspent TARP and stimulus money.
b. Incentives for Small Business Investment. Allow small businesses to expense 100 percent of new equipment purchases each year to help theminvest in new, more productive technologies.
c. Abolish Taxes on Capital Gains. Match the Chinese capital gains rate of zero. Federal Reserve Chairman Alan Greenspan testified in the1990s that this was the best rate for economic growth.
d. Reduce the Business Tax Rate.America has the second highest business tax rate in the world. Weshould match the Irish business tax rateof 12.5 percent. Combined with a zero rate of taxation on capitalgains, America would become the most desirable country in the world inwhich toinvest and start a business.
e. Abolish the Death Tax. Inheritance is the most powerful accumulator of capital. Studies show that eliminating the death tax would createhundreds of thousands of new jobs. - American Energy Plan to Create American Jobs and Keep American Money at Home.
Developing more American energy while protecting the environment wouldmean the creation of millions of new American jobs and the generationofbillions of dollars in new federal tax revenues, largely without theneed for any new federal spending. The first steps we need to take aretodevelop more of America's oil, natural gas, and oil shale resources,expand nuclear power, provide prizes for key energy breakthroughs, andanemphasis on incentives, not taxes, to achieve our energy andenvironmental goals. And for more information about the American Solutions Jobs Here, Jobs Now, Jobs First plan, go to AmericanSolutions.com.
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Conservative Views of America
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