The US Government has invested billions into “job creating” activities. They’ve done a terrible job and have by-far cost us more than the tiny gains we may have made. I’ve noticed everyone running for office has been talking about jobs and job creation and I have yet to see anyone offer actual solutions. I’ve tried to offer some valuable ideas which still hold true but we need to look at the root of the problem because if we don’t, even things like eliminating the corporate income tax won’t bring jobs back.
Those of you who I have met on the campaign trail have heard me talk about how our current Congressman has failed to learn one of the most glaring lessons of the New Deal as pointed out by economist Thomas Sowell in his recent book, The Housing Boom and Bust, and I quote; “is that massive and unpredictable government interventions in the economy creates uncertainties as to what government is going to do next- as well as uncertainties as to what the actual economic consequences of government policies will turn out to be.”
We are all keenly aware of the lack of consumer confidence right now and the unpredictability of government policy. I’ve read people blaming the banks for hoarding cash. I’ve read about biodiesel industry unsure of their future because of certain tax credits that Congress has yet to extend. We still see the New York Stock Exchange having record gains in the last two years followed by record losses shortly thereafter. While I’m still pushing that private investment incentives, eliminating corporate income taxes and other solutions I’ve discussed in the past will boost the economy and promote job growth, it is secondary to this one, big thing – No one knows what our President is going to do next.
The only thing consistent about current policy is that it’s failing over and over again. It’s failing because it lacks consistency. Businesses and investors have no confidence in the system because they don’t know what kind of tax burden they’ll fall under the following year. They don’t know if the government is going to bully their companies around like we’ve seen in the financial industry. When we can no longer predict the actions of our leaders, we are no longer willing to take risk. President Obama, Congress and many of the leftist drive-by media keep talking about how banks shouldn’t be allowed to take on much risk. Well, based on current policy, they won’t. Not because Obama forced them to but because they don’t know what he’s going to do next which makes mitigating risk nearly impossible to do.
Our government has been unconstitutionally interfering in the private sector, Congress has over-stepped their powers and the economic consequence of this complete disregard for the Constitution has destroyed our economy. I know, almost guaranteed, I can get a 5% return on my money in a high yield savings account with most banks here in Des Moines, IA. Why would I put my money anywhere else if I can’t effectively mitigate risk because the government may step in and raise my tax burden, or that of my bank which, in turn, becomes a trickle-down tax and financially impacts me.
So what’s the answer? To the Whitehouse and Congress – Get OUT of our system! Leave us alone! This one thing would build consistency in policy and give consumers the confidence they need to start investing again. There are many successful businesses out there and many opportunities for successful investments. Let us take advantage of these without having to worry about what Big Brother is going to do next to pay for their $1.4 trillion deficit. Once the government can prove consistency to consumers and we can effectively mitigate financial risk we can start promoting job growth in the PRIVATE sector that will reap great benefits, increase personal income, increase tax revenue and rebuild our economy.
Thus far, the only predictable thing Congress has going for them is that we know our representatives like Leonard Boswell are sure enough going to be voting with Pelosi and Democratic leadership which is not in our best interest. That’s NOT the kind of consistency we need. We need consistent representation that supports economic growth. Not public sector investments. Not higher taxes. Stop the Stupid Spending and give the American people a chance.
One of the most frustrating things I’ve seen lately is government’s inability to see that we the people can fix this economy if they would just give us a chance. If they would get out of the way, we American’s can fix this economy because we are an innovative, intelligent and productive people that have worked through difficult circumstances in the past. We don’t need the government other than providing consistent economic policy that keeps themselves out of our way. President Obama and Congressional leadership are a stumbling block for our economy right now. Either they need to step out of the way or we’ll move them out of the way.
Written by Dave Funk
Candidate for Congress in Iowa’s 3rd District
Photo by Dave Davidson
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