How to create Jobs?

The White House can't seem to understand that it all starts with taxation. You have to put money in people's pockets and then trust the American consumers and businesses to do what is best with it -- let capitalism run its course. You can't stimulate job growth without stimulating spending. That said, the tax credits that have been proposed are silly and meaningless. Tax credits for new hires were included as part of the original recovery bill, and it's apparent they did no good whatsoever. Given the chance on FOX Business News tomorrow, I'm going to suggest the following actions to boost job growth:

1. Implement a meaningful payroll tax holiday for both employers AND employees (January 1st to July 1st, or better yet, ALL of 2010).

2. Permanently abolish the capital gains tax on any investments made in eligible small businesses (fewer than $100MM or under 500 employees) during 2010.

3. Repeal or drastically modify Sarbanes-Oxley, as it has only hampered business growth and hasn't done nearly as much good as was intended (I call it the "Accountant Full-Employment Act").

4. Get health reform RIGHT -- the plans in circulation are still missing two very important things: tort reform and the ability to purchase health insurance across state lines.

I'd also like to see our elected officials stop demagoguing business as "evil." That small change would make a big difference, because it's businesses that create jobs, not temporary government spending programs (when they call them "investments," watch out . . . where are our returns???). They'd like us to believe that government creates jobs, but it doesn't -- it only creates work and our tax dollars are expropriated to pay for this. It's the small and mid-sized businesses that will create the jobs that will put money in people's pockets and ultimately stimulate spending and help put money in people's pockets. We can't forget that.

So, be sure to tune in to FOX Business News at 9:15 tomorrow morning (better turn the TV on at 9:00am, so you don't miss it.) Seen you then!

Dedicated to Your Continued Success,

Chris

Christopher G. Hurn,
CEO/Cofounder
Mercantile Capital Corporation