Government Can’t Create Jobs, But It Can Stop Them From Being Created

Ken Langone, one of the founders of The Home Depot, has a few choice words for the lecturer-in-chief:

If we tried to start Home Depot today, under the kind of onerous regulatory controls that you have advocated, it’s a stone cold certainty that our business would never get off the ground, much less thrive. Rules against providing stock options would have prevented us from incentivizing worthy employees in the start-up phase—never mind the incredibly high cost of regulatory compliance overall and mandatory health insurance. Still worse are the ever-rapacious trial lawyers.

Meantime, you seem obsessed with repealing tax cuts for “millionaires and billionaires.” Contrary to what you might assume, I didn’t start with any advantages and neither did most of the successful people I know. I am the grandson of immigrants who came to this country seeking basic economic and personal liberty. My parents worked tirelessly to build on that opportunity. My first job was as a day laborer on the construction of the Long Island Expressway more than 50 years ago. The wealth that was created by my investments wasn’t put into a giant swimming pool as so many elected demagogues seem to imagine. Instead it benefitted our employees, their families and our community at large.

* * *

It’s not too late to include the voices of experienced business people in your efforts, small business owners in particular. Americans would be right to wonder why you haven’t already.

Please do read the whole thing.  The contrast between the guy who created a great business, which employs 325,000 people, and Obama’s vilification of all things business is striking.

I am afraid that President Obama will never include experienced business people in his inner circle.  The problem is, they know what they are talking about.  Including them in the discussion would make it perfectly clear that the President does not.

Advertisements
Published in: on October 16, 2010 at 11:00 am  Leave a Comment  

The URI to TrackBack this entry is: https://mangyredbonehound.wordpress.com/2010/10/16/government-cant-create-jobs-but-it-can-stop-them-from-being-created/trackback/

RSS feed for comments on this post.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: