The Friday's jobs report was mixed. The good news is that jobs were created but the overall unemployment rate went up to 9%.
I can not recall the last time that the unemployment rate went down and back up in a recovery.
What kind of recovery do we have? It looks like 'a jobless recovery" so far.
The Washington Post has a good editorial: How to fight structural unemployment
"The main point is that unemployment remains well above what it should be; the longer this persists, the more we risk a “new normal” of structural unemployment, which is a fancy term for elevated human suffering and snowballing economic waste. We dare not let this happen.
The question, though, is how to generate the new jobs."
Indeed! So how do we generate new jobs?
First, let's look at how "NOT" to create jobs.
The Obama administration is currently at war with a private sector company opening a plant in South Carolina.
We are talking about Boeing, a great US company known all over for making those big jet airplanes.
Boeing wants to build a plant in Sout Carolina and bring 1,000 jobs to the area.
Unfortunately, the Obama administration and the NLRB filed a lawsuit to stop the new facility.
Why? It's simple.
First, South Carolina is 'a right to work" state like so much of the South.
Second, the Obama administration, and the Dems, need union jobs so that workers continue to pay their dues, i.e. fund the party!
Back to the question: How do we really create jobs?
The answer is free markets and capitalism, precisely the economic system that gave us the prosperity we currently enjoy.
Let's try a few suggestions:
1) Cut corporate taxes to 10%. Make the US the most attractive place in the world to open a plant or business.
2) Eliminate the IRS monster with a simple "flat tax". No deductions. No complex IRS rules. You make a $100 and pay $10.
3) Look at Texas. Why are we creating jobs and attracting so many businesses, i.e. job creators?
4) Don't forget trade. Give US exporters the chance to penetrate other markets by agreeing to free trade deals such as Colombia and South Korea.
5) Take a break from regulations and taxes.
The Obama years have been characterized by too much talk of regulation and taxation.
All of this "anti-business" may sound good in front of 18-year olds screaming "yes we can".
It is frightning talk to the people who crate jobs and pay taxes.
6) Cancel Obama-Care and let the states figure out how to fix their health care issues.
My six suggestions are rooted in one simple principle: capitalism
It worked in the past. It will work again.
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