Don't be fooled. This is a political event to make the public fell the administration cares about them and is working on the problem. The truth is, they are creating the problem, overwhelming the system and hoping you turn to them for help out of despair.
Aside from the incorrect mindset by this administration that government creates jobs, it is actually the private sector that does. Fixing the job problem is not particularly challenging, but the mechanisms to get the job done go against the policies of this administration. In an effort to be of assistance, here are a handful of ideas.
1. Uncertainty. Investors, small business owners and corporate America are paralyzed as the amount of regulation and taxes seem poised to increase substantially in the short term. Markets and forecasting HATE uncertainty and the high level of it that exists now must be eliminated.
2. No Free Lunch. Remember Peggy Jospeh? Transferring wealth from successful Americans to those who take no risk, are unable due to secure long standing employment due to lacking skills is the equivalent to exercising a tax on those who create jobs and provide an avenue for those on the low end to build and enhance their skills.
3. Energy Policy. Vice President Joe Biden attempted to throw Sarah Palin under the bus quipping "it is more than just drill baby drill". Not really. Get serious on this this afternoon.
4. Minimum Wage. It was just increased. It should be eliminated. The free market should dictate wages based on demand for the service and the abilities of the workers.
5. No new programs. Cap & Trade and the Health Care Plan will cost businesses untold and unpredictable dollars, which is money that could and should be spent on business expansion.
6. Bush Tax Cuts. Obama will not continue them, which is the wrong move. Recall from economics class when you tax something, you get less of it.
7. Cut Corporate tax. Businesses need to be free from excessive taxation and regulation to conduct business, which leads to increased tax revenue and, oh yes, expansion in employment.
8. Global Climate Change. Although encouraging everyone not to pollute is great, this global warming deal is a hoax and in reality represents a vehicle for the global transfer of wealth. Until completely exposed, and given our main stream media this could take some time, it acts a tax on business, which is passed along to the consumer. That is money that could be used for business expansion, and, jobs.
9. Immediate suspension of stimulus package. Only about 25% rolled out (given the level of unemployment you would think this would be on the fast track), it is already apparent that it is not working (who knew?) and it should be stopped.
10. Reduce corporate taxes. This will help businesses, get this, generate business, and therefore jobs and tax receipts for the government. Instead, Congress and the Obama administration are looking for ways to add to the tax burden, from inheritance tax to war taxation. Increasing taxes in various ways is not good, and one could refer to the Laffer curve for review.
11. Eliminate the Czars. In America, we actually currently have a pay czar. This is far from helpful.
12. Government Interference. A striking example of this is the government takeover of the car companies, and Uncle Sam screwing the bond holders. This was a very bad precedent and possibly illegal.
So there you have it, a dozen items. I doubt Obama will hear any of these thoughts at the summit today, since small business is not invited. Labor unions, SEIU, Academics, government officials and companies involved in global warming are among those participating.
The following chart gives you an idea of the real story in Washington:
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