Comments on: Producing Jobs: Thoughts on Obama’s Plan for Small Businesses

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By: The Greenroom » Forum Archive » “Stop stimulating us!”

The Greenroom » Forum Archive » “Stop stimulating us!” — Wed, 10 Feb 2010 14:37:40 +0000

[...] Bruce Yandle does it shorter: Imagine yourself as owner of a small business with 20 employees. You are trying to decide if you should build up inventories again, hire one or two people, and lease another pickup truck. Would you make your decision on the basis of the fourth quarter GDP numbers? Would you base your plans on the explosion of existing home sales that followed the first-home-buyer stimulus? Most likely not. I’ll bet you would wait so that you could get a better fix on the real economy. [...]

By: Doug Thorson

Doug Thorson — Tue, 09 Feb 2010 21:42:08 +0000

Nicely put Professor Yandle. All business must take into account your comments that, “Too many policy boulders are being dropped in the water. One can hardly determine the effects of one before another one is thrown in the pool.” The current policies are dislocating resources and sending signals that if taken seriously will cause more businesses to make bad decisions now.

I agree that we need government to simply step back from any more “stimulus” programs and allow the markets to work. I also agree with you that the best route is to, “just abolish capital gains taxes for all businesses. Doing this would put an end to trying to determine what is stimulus and what is real and what may change at the end of the year.”

Nice job! Keep them coming.

By: BCM

BCM — Tue, 09 Feb 2010 19:20:51 +0000

Very interesting article and accurate analysis, I think. Thanks.

I disagree on one minor point, however, where you write about the complex decison making that small businesses face when they make a decision to hire or fire. Reflecting on your own experience, you write: “I hope that some of Mr. Obama’s close advisers know these things as well as, if not better than, I. I am betting they do.”

I would actually bet that Obama’s adivsors do not know as well as you do, given that less than 10% of Obama’s advisors have any private sector experience. See Mark Perry: http://mjperry.blogspot.com/2009/11/help-wanted-no-private-sector.html

By: Jeff

Jeff — Tue, 09 Feb 2010 18:05:14 +0000

I don’t understand why Obama has not been shouting about the one business in America that is humming along, hiring more workers and raising the salaries of many to twice the national average ?
Business has been good for the Federal government and especially for those who make over $100K in the government. This is a success story that nees to be told.

By: Tom Nally

Tom Nally — Tue, 09 Feb 2010 17:22:08 +0000

Among the elected class, there seems to be an aversion to allowing citizens and businesses to simply keep more of their own, darned money. Rather, the elected class would much rather extract our hard-earned income from our pockets, then dispense it back to us as part of a “special program”.

This achieves two political purposes: (1) it leads citizens to believe that jobs and prosperity are created by government; and (2) it keeps us grateful. One thing that this devious scheme doesn’t do is create long term growth.

It goes without saying that prosperity and wealth originate in the private sector as a result of investors and entrepreneurs placing capital at risk for the opportunity to make a buck. But it’s not an accident that large portions of the electorate do not understand this. I’m convinced that the lack of understanding is completely intentional. The elected class, and other members of the public sector, want us to think that prosperity flows from them. The more we think that, the more power we grant to the elected class. Since the public sector controls public education, it’s doubtful that the indispensibility of free enterprise will ever be taught. It’s against their interests.

—Tom Nally, New Orleans, visiting by way of Cafe Hayek

By: Bogart

Bogart — Tue, 09 Feb 2010 16:37:35 +0000

There is no nudge and unfortunately there is no standing back. The only way to improve the business environment is to do the hard work of cutting back government. The best place to start is where the liberty folks have been saying all along and that is to cut back on the two wars and foreign military bases. Then there is the Federal Reserve System with the other two towers of destruction the Social Security and Medicare/Medicaid Systems.

Rothbard’s had the right means to end recession, that is to cut back on all constraints to people building capital/acquiring private property for investment.

By: Speaking Words of Wisdom

Speaking Words of Wisdom — Tue, 09 Feb 2010 15:49:57 +0000

[...] “Producing Jobs: Thoughts on Obama’s Plan for Small Businesses“ [...]

By: Derek Havens

Derek Havens — Tue, 09 Feb 2010 15:31:41 +0000

Bruce,
Again you bring years of practical experience along with clear understandings of the micro and
macro to bear on an important issue. It’s not so much where as how help is offered.
Thanks,
Derek

By: File Strengthen

File Strengthen — Tue, 09 Feb 2010 14:35:05 +0000

Great post. It is clear You have a great deal of unused capacity, which you have not turned to your advantage.

The way you write shows you have a need for other people to like and admire you, and yet you tend to be critical of yourself.

It seems to me that while While you have some personal weaknesses you are generally able to compensate for them.