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January 31, 2012

Itís All About Jobs, Stupid!

Adam Avery

In the private sector – for those of us who actually create jobs despite having to struggle with mandates from state and federal government – we have a saying: “Revenue solves all problems.”


For my core business – reverse mortgages – closing a loan and the revenue generated from doing so fuels every other aspect of the business. Growth for job creation and existing employee morale are uniquely and undeniably tied to the end result of my success in driving leads through the business infrastructure, ultimately ending with a closed loan and revenue or a lost lead and non-recouped expenses.


As the Republican nominees traverse the country and put on their dog-n-pony shows known as the debates leading up to state caucuses/primaries, much is made about issues like repealing Obamacare, disclosing tax returns, who did what and who didn’t 30 years ago to push a conservative agenda and who is most conservative today, and who is and isn’t a social conservative – read pro-life or not.


While these discussions are secondary in importance and make good fodder for campaign managers to exploit or minimize the damage caused it’s on the trail to the next caucus; and while these issues cause discussions which sometimes make for good television, it is all noise which has nothing to do with what voters should be concerned about when they head to the ballot box and choose between incumbent President Barack Obama and the eventual Republican nominee.


The only issue that matters, the only issue which will turn around our economy and improve the morale of individuals, and the only issue the Republican candidates should be talking about is how to create jobs.


It’s all about jobs, stupid. Nothing else matters.


If I were any one of the remaining Republican candidates, I would immediately change course and talk only of my plan to get Americans back to work. I would explain in layman’s terms how the Obama Administration – and its penchant for taxing and regulation – has killed jobs; and I would articulate a specific outline of how to reverse course as soon as possible.


In the event that the candidates don’t take my advice, or are unable to talk to the average American, I offer a narrative I think would work.


My fellow Americans, stop listening to President Obama’s lies. He has not increased job creation. He has not created three million jobs in the past two years. Mr. Obama has not “created,” nor has he “saved,” millions of jobs. That is all political rhetoric.


The President doesn’t create jobs, a legislative climate which fosters risk taking does.


Regulating and taxing business does not create jobs. Forcing business to hand over profit to the government does not create jobs. Stealing the discretionary income earned by individuals and investment capital from businesses prompts individuals and businesses to cut expenses.


The largest expense to any business is its cost of labor. Its second largest cost of goods sold (COGS) is corporate tax. Arguably, a businesses’ third largest COGS is its cost of keeping up with and complying with ever evolving and poorly described regulations on their industry.


The largest source of revenue for individuals is earned income. An individual’s largest expense is tax on earned income. An individual’s next largest expense is the aggregate of all the other taxes and fees paid to participate in life.


Hence, regulating and taxing businesses and individuals does nothing but force business owners to lay off employees and individuals to hold onto what little money they have left rather than invest it in the economy.


Taxing capital gains causes investment income to be harbored somewhere other than a vehicle which creates jobs. Taxing corporate profit causes businesses to cease investing in jobs which increases the chance to earn profit. Mandating additional expenses on business causes business to throw up their arms and give up trying to earn a profit.


I know this firsthand, for I have done it.


Without profit, there is no money for business to invest in new positions. Without profit there is no money to invest in new ventures which create new positions. Without profit, there is no money to contribute to charity. Without profit, there is no money to reward existing employees with a path to increased wages.


This November your choice for President of The United States is important; but it isn’t as important as votes for members of Congress which defeat liberal progressives who never met a tax or regulation they didn’t approve, and voting in conservatives who understand that regulation and taxation is the death knell to growth and prosperity.


Our economy could be saved overnight by doing the following: Eliminate capital gains and estate taxes – that’s right eliminate as in none, nada, zilch. Cut the corporate tax rate to 10% (from its current 35%). Cut marginal income taxes by at least 50% for each bracket, with the highest bracket being 15%. Make everyone pay something, whether through payroll or income tax not to exceed 15% of earned income.


Once accomplished, we can move on to eliminating EPA regulations and razing ineffectual departments like that of Education.


This is such a simple plan. One would think simple minds could follow this blueprint…


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