An endangered species – Part II

In our most recent post, we discussed the most endangered species of all; Entrepreneurs. This post if the follow-up.

It has often been said that the business of government is Business. The American Entrepreneur is the symbol of progress and success. It serves as the engine of our economy. Yet, is threatened with extinction. What can policy makers do, or not do, to encourage entrepreneurial efforts in this new decade? Here are a few recommendations.

First, reduce the pressure on taxpayers (Small Business) by drastically reducing Federal Spending. By doing so, the demand for more tax revenue is diminished. In addition, more capital is available for small businesses to use in growing employment.

Second, completely revise the tax code to encourage entrepreneurs to innovate and create. The current tax code punishes achievers and forces them to bear an inordinate share of services. Small businesses are forced to support millions who contribute little to the cost of services.

Third, eliminate useless federal regulations and remand control of business to the individual states. This fuels competition between states and promotes creativity and innovation.

Fourth, enforce employer compliance to hire only workers legally here to work.

Fifth, encourage state and local school administrators to engage local business owners to create education platforms that prepare local graduates for responsible work.

Sixth, allow small businesses to pool risk (Health Insurance, Life Insurance, etc.) with other small businesses to reduce benefit costs.

Seventh, enact tort reform to stop encouraging people to use small businesses as their own personal lottery. There is already so much risk involved in starting and running a small business. Individuals need to be discouraged from bringing frivolous actions against small business. This type of defensive management drives up costs and restricts the number of employees a business can hire.

We must act to protect this species. Without it, our society will be missing an integral part of the economic engine, and that’s a part we can ill afford to lose.

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2 Responses to “An endangered species – Part II”

  1. Mark Baird Says:

    I hear much talk regarding tort reform but no one ever backs this talk up with empirical evidence of any kind. Everybody wants to take the rights away from the common man because these trial lawyers have some sort of magical powers that no one else does. Is what you are saying is that their is a group, a majority of Americans, that cannot be trusted to make decisions about the conscience of their society?

  2. Jeff Hartline Says:

    What I am saying is that there is open season on people who are producers by virtue of the fact that anyone may sue anyone for any reason. It becomes a lottery for people who wish to make their living off of people who are attempting to produce goods and services for the public. Without some sort of restraint, the monies needed to fend off these complainants makes everything cost more and drives individual people out of business. Many who use this as their form of making a living have nothing to take if one decides to countersue for a frivolous lawsuit. In medicine, a full 26% of medical prodesures are ordered in order to cover this risk produced by trial lwayers and unscrupulous plaintiffs.

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