The Most Important Issue - JOBS!

Job creation would not take massive changes in policy or huge government expenditures. Unfortunately, Democrats and Republicans are of the mindset that every economic problem can be solved through adjustments in taxes or spending. The simple fact is that we have created an environment unfriendly to small businesses, which are the only net creators of jobs in the United States. Fortunately, the job climate can be improved tremendously with three microeconomic changes that will free American businesses from the regulations that prevent them from growing and creating jobs.

Step 1 - Allow Businesses to Advertise for Investors

Small businesses are at an immediate disadvantage when it comes to raising capital. Since the enactment of the Securities Act of 1933, it has been illegal for small businesses to solicit investors through advertising. Federal and state elected officials apparently don’t want Americans investing in local businesses when they could instead invest in the giant corporations that fund state and federal officials’ re-election campaigns.

If Congress would amend the Securities Act and exempt (under the interstate commerce clause) all efforts by small businesses to raise capital up to a specified amount, millions of businesses would be able to grow and hire millions of new employees.

Step 2 - Remove Payroll Regulation to Encourage Hiring

Carl’s “First Three Are Free” plan would create about 3,000,000 jobs over a one-year period. Twenty million of the nation’s small businesses are solo operations. Most do not hire a first employee because of the substantial increase in work required to comply with the same laws that apply to large national and multi-national corporations. The time and cost of payroll compliance is too much of a leap for self-employed persons to take, so they refuse to hire and expand their businesses. As president, Carl would direct the IRS to adopt a regulation that exempts the first three designated employees of any business from all regulation, and to treat such designated employees as ‘independent contractors. This means that in order to hire up to 3 employees, a small business or self-employed person would not have to

obtain a workers compensation insurance policy or a disability income insurance policy
withhold taxes from wages or make period deposits and reports with the IRS
post employee notices, comply with minimum wage requirements or be subjected to a state Insurance Commission audit.

Instead, the self-employed individual or small business owner could use that time and money to build the business and create even more jobs.

Step 3 - Expand the Ability of Businesses to Train Employees

The most destructive job-killing regulations are placed on education. The nation’s colleges and universities do not provide the type of training that businesses need, and any business that hires individuals must dedicate a certain amount of time, money and resources to training. Private businesses need to produce trained individuals, but they are prevented from doing so by state laws, which prohibit any instruction before a long, costly and dubious course of licensing in which the applicant is required to spend $250,000 to $1,000,000 or more. Even if they obtain a license, businesses could have their licenses revoked at will by the licensing authority. Under these circumstances, no schools have been started, and the required instruction does not exist.

There are 10,000,000 skilled, high-paying jobs waiting for individuals trained to provide business needs in areas as diverse as finance, marketing, customer service, purchasing, shipping, business communications, management techniques, etc. The federal government needs to pass a statute preempting all state regulation of post-secondary vocational training to encourage private enterprise to create the schools and training programs needed to prepare students to fill the millions of jobs awaiting them.

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