Hi everyone. I came across and interesting article posted on The Atlantic website. The article was written by financial author Gary Shapiro. I was unaware of this but apparently Gary Shapiro is the author of a New York Times bestselling book entitled “The Comeback: How Innovation Will Restore the American Dream.” In this article he talks about 7 steps that can be taken to restore the US economy to the full health and vigor it once had. I think most of his ideas are very good and I can only dream that they do get put into action.
The only idea that I do not think will make a big impact is the “take easy unionization off the entrepreneurial table” which I’m not sure is the right thing to do. I do not know why so many capitalists are so scared to death of the word union. Workers have a right to organize and work towards and protect their interests just as much as the capitalists. Healthy profits can be garnished by companies even if their workers are unionized. But anyways, this is a whole other discussion and I do not want to get into a rant.
I’d also like to add to that list the idea that the Government should give tax breaks to small businesses and entrepreneurs. The entrepreneurial class should be exalted and everything must be done to further its success.
OK, enough of my opinions, here is a brief summary of the 7 steps Gary Shapiro talks about in the article (link to the article source is at the bottom of this post):
1. Stop penalizing investments in start-ups.
2. Direct any public funding of start-ups by private investors, not by government bureaucrats.
3. Take easy unionization off the entrepreneurial table.
4. Let any company fail, whether large, small or entrepreneurial.
5. Make economics, business and entrepreneurism studies compulsory in school curricula.
6. Ensure that business tax rates are transparent and predictable.
7. Change tax laws to favor investment over debt.
Read more online at The Atlantic.
Have a great day everyone!