With Obama’s dismal record on jobs, there’s a lot of debate about how to improve the employment situation.
I take the pro-market position in this special report on Fox News.
The discussion focuses on the following questions.
- Does government spending create jobs? This is the discredited Keynesian notion that you become richer by switching money from your right pocket to left pocket, and I explain that this approach has never worked.
- What does create jobs? I explain we need to shrink the burden of government and I cite my favorite Golden Rule about the importance of making sure the productive sector of the economy grows faster than the public sector.
- Should there be more government workers? Anyone who has seen this video knows my answer to that question.
- Is it a good idea to raise taxes on the rich? I argue that penalizing success doesn’t make sense, so class warfare tax policy should be rejected.
- Would it help to impose higher taxes on corporations? Since the United States already penalizes companies with the world’s highest corporate tax rate, that question answers itself.
- Should the United States copy Europe? My answer shouldn’t be a surprise. I say that Europe is a giant warning signal about the dangers of excessive government.
In other words, there is no secret to job creation. Just get government out of the way.