What steps should be taken to reduce the high rate of unemployment in the United States?
Revert to free market principles which have built this country and made it the superpower it has become.
Deport the socialists and statists to some island paradise they can destroy to their hearts' content, until they finally see the light.
One way would be to eliminate many government regulations that make it difficult for businesses to operate. So many regulations are passed by dimwits in offices who have zero real-world knowledge of the industries they are trying to "regulate." By reducing the number of ill-conceived and harmful regulations businesses would be able to expand and hire more employees, to a degree.
But that is just a start.....
Make it profitable for businesses to thrive here. I remember divisions of Hughes Aircraft moving to Tijuana when I worked there in the 1980s. Look at all of the things that are made in China. I sell Betsey Johnson jewelry on Ebay. Betsey Johnson is an American designer. It was cheaper for her to have jewelry manufactured in China and shipped back to the US. Chinese sellers are selling Betsey Johnson jewelry on Ebay for 99 cents to $5 or $6 bucks. There should be incentives for small business owners who have excellent products/services and hire at least one employee.
The answers to that in terms of detailed policy positions requires more space than what is allowable to type. But in simple terms, unemployment is reduced by capital investment in new ventures and expanding existing ventures. Capital can only be created privately. And as the old saying in the world of economics goes..
Capital goes where it is most welcome. And capital stays where is is treated best.
The US at the Federal level, and in many states has become hostile to business. Between our tax laws and the ridiculous level of complexity associated with them, and the overbearing regulatory environment we must operate in, I can't imagine why anyone would want to hire someone these days.
Corporations today are sitting on a record two trillion in cash, which pays them ZERO at current interest rates. That means when adjusting for inflation, they are guaranteed to lose money on their cash holdings. But the slow loss on cash is more attractive than investing in new ventures in the hostile business climate that currently exists, which only poses greater risk with a nominal potential for reward. So instead, they will hire only when absolutely required to. And existing employees will be forced to do more work for very little if any in additional compensation.
The fundamental problem is that people in DC think that they create jobs. In fact nothing could be further from the truth. Politicians don't create jobs. They can only get out of the way. The reality is that the vast majority of job creation comes from small business owners. I have never yet met a small business owner who said "Thank God for the politicians...I couldn't have done it without them" For the most part, the political figures in DC are obstacles to efficient distribution of capital. The more they get involved, the more they will get in the way, and the less productive job creation will be.
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