published Tuesday, September 20th, 2011

Ideas to create jobs

If you need a job and want a job but don't have one, you surely would like to hear any reasonable proposal for creating some good job opportunities.

It is no solution for the federal government just to tax everybody who does have a job, and then use some of the money to create more government jobs or to subsidize "make-work" private jobs.

We want real jobs producing goods and services that meet real market demand -- and that are beneficial not only to the job holder, but also to the company for which he works and to our economy and people as a whole.

So some recent proposals by the U.S. Chamber of Commerce to create jobs deserve attention.

The Chamber says that if, among other measures, the United States cut tax rates on the profits that multinational corporations earn overseas, that would help persuade them to bring as much as $1.2 trillion into the U.S. economy -- and would create more than 6 million jobs within two years!

Here are some of the Chamber's other recommendations:

  • Temporarily reduce the tax rate companies pay when they sell capital assets.

  • Pass long-delayed trade agreements with Colombia, South Korea and Panama.

  • Increase oil and gas exploration to the levels that prevailed before the Gulf of Mexico oil spill restricted offshore drilling permits.

  • Approve a $7 billion oil pipeline from Canada to Gulf Coast refineries.

  • Relax a variety of unreasonable regulations and rules that hinder the economy and employment.

Anytime we want more of something -- jobs, investment or anything else -- it's a good idea to reduce restrictions and regulations, cut taxes on those things and then just "get out of the way."

That lets enterprising people find ways to create jobs, and it boosts government revenue by expanding the tax base.

Shouldn't we at least begin to try that, rather than follow the failed policies of more government borrowing and spending? Haven't we learned that government-planned economies just don't work?

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nucanuck said...

The US economy is undergoing structural changes brought on by rising energy costs. Those costs are permenantly reducing consumption levels and employment. We are not going back to the way things were. Those costs are diverting ever more of our income toward basics...food, shelter,and transportation.

The efficiencies of modern communication, on-line retail and computers are eliminating whole layers of jobs... they're gone forever. We are not cost competitive in most areas of manufacturing...those jobs are gone.

An editorial telling us that with tax cuts and free enterprise, we can get our mojo back is simply a pipe dream.

September 20, 2011 at 1:07 a.m.
conservative said...

Well put, but I have noticed that fools never learn. They are the ones who vote for more socialist programs, higher taxes, and debt. Their mantra seems to be "we can tax and spend our way to prosperity".

September 20, 2011 at 8:31 a.m.
nucanuck said...

Fools often suffer from a lack of self-recognition.

September 20, 2011 at 10:31 a.m.
nucanuck said...

L4F,

If the long term cost of energy is up substantially, and I believe that it is, then globalization may be peaking and re-localization becoming the primary trend. That would mean that jobs would be created in localizing food production, that small manufacturing would make a come-back. Think about it, the potential is only limited by our ability to think forward.

None of that means, however, that we can avoid 4-8 years of deep economic pain while we pay for what we bought on credit.

September 20, 2011 at 12:23 p.m.
holdout said...

If I am understanding you Nucanuck you are saying that energy prices are going to continue to rise and that the cost of making and shipping will rise along with it. That makes sense. And then once it becomes cheaper to make and sell something locally then it will be made and sold locally. That too makes sense.

I do think 4-8 years is overly optimistic for the time it will take to pay our debts. I don't think any one can accurately forecast what sectors of industry will be the profitable or useful ones at this point. After all we have to look further out than the next decade if we are to be realistic. Fifty years from now a sailing ship might be a cheaper way to ship goods than anything else. Whatever the future holds it would be best for the nation to be in a position to allow the market to determine where investment makes the most sense. If we had had the current government a hundred years ago there would still be government subsidized blacksmiths under every spreading chestnut tree.

September 20, 2011 at 1:11 p.m.
nucanuck said...

For forty years I have been more than a little successful at getting ahead of trends and the linear thinkers. Government intrusion will always be with us to one degree or another. We have to deal with the givens and find ways to see past that which we can't do much about.

Understanding all aspects of energy, green and otherwise, is key to understanding the road we are on. Those who holler about drilling bla bla bla, simply don't get where we are.

We are not going back to the way things were.

September 20, 2011 at 2:44 p.m.
nucanuck said...

holdout,

I agree that trying to estimate elapsed time for a future occurance is a bit of a fool's mission. Admitting that, the debt unwind could easily accellerate through some form of default. My guess would be that by 2016 or so the US dollar will break down badly, losing it's reserve currency status. That would probably mark the ultimate US bottom near that time. If so, we might expect to get back to a new normal within another five years.

That's my guess for now and as more input comes available, I'm sure those guesstimates will move.

September 20, 2011 at 3:31 p.m.
conservative said...

Do us all a favor and keep your next guess to yourself or share it with Obamboozler, he needs all the help he can get.

What an arrogant, condescending, know nothing!

September 20, 2011 at 3:44 p.m.
JustOneWoman said...

It is the banks, and until the people have more power than the corps, it will be this way. Good ideas have no where to go without money. Construction cannot start without the money.

Conserve, break the word down, con serve. Pretend to serve or against serving. And that is exactly what they are doing. Liberal, liberty, Lover of liberty. I bet everyone of you is a Liberty Lover. We all are. Brothers, you are slinging words to harm one another, so you are just another instrument in turning this country into dung.

Conservative said "do us all a favor and keep your next guess to yourself....." to nucanuck. How rude! I have been watching this paper for a while and there are several that are just rude. They act like mean bullies at high school. When they have no substance, they just start calling names. Again, people that is rude. We are all on the same team, The American Team. Show some respect! Nucanuck, I value your opinions. I have always found you to be very grounded and reasonable.

September 20, 2011 at 4:28 p.m.
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