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The Guardian

 

'Pull Back On Regulations That Strangle Entrepreneurship'

October 11, 2011

By Diana Furchtgott-Roth

Let’s hear it for Governor Rick Perry. With jobs the greatest area of concern to Americans, Governor Rick Perry clearly articulated the barriers to hiring, ranging from Obamacare to energy regulation. He made a compelling case, based on his Texas record.

Most new jobs are created by young companies, and, as Perry pointed out, the healthcare penalty is one of the biggest obstacles facing employment growth. Under the new healthcare law, employers with more than 49 people who do not offer a generous health insurance policy will owe the government $2,000 per worker per year. Since the first 30 workers are exempt from the penalty, beginning in 2014, hiring 50 workers rather than 49 will cost a company $40,000 per year.

Plus, the cost of Medicaid, the health program for the poor, is booming, and states should have the flexibility to adjust their own programs without begging the federal government for waivers.

Further, as Perry said, opening up areas of domestic energy is key to job growth. Not only does energy provide jobs in energy industries, but lower-cost energy from our domestic resources of natural gas, oil and coal will allow further development of manufacturing.

America needs to pull back on regulations that strangle entrepreneurship.

Other candidates also offered serious reforms to America’s current economic situation. Congress should repeal the cumbersome Dodd-Frank financial apparatus. And the tax system needs reform, by lowering rates and getting rid of deductions for businesses and individuals. The Fed should concentrate on keeping the money stable. But Perry seemed to have the best overall perspective.

Original Source: http://www.guardian.co.uk/commentisfree/cifamerica/2011/oct/12/gop-debate-economists-verdict

 

 
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