I feel rather special for being singled out in the title. I feel a little annoyed, though, so many seem to have such a dim view of the capabilities of the American entrepreneur vs those in, say, Germany.
Germany has a much higher tax burden and far greater regulatory issues. They've even got a more grim
GDP/National Debt ratio, and even owes much more of its
debt to foreign countries than we do. Yet there are people just like me over there who have no problem making a buck.
However, they are sitting on a pretty enviable 6% unemployment rate.
They do a much better job of investing in things like education, health care and infrastructure, especially in the good times, and it's helping them get through these rough times.
Maybe I'm just less whiny than the US Chamber of Commerce, but I just don't feel like regulation or tax rates make that much difference in my day-to-day business. If my customers have jobs and can afford my products, I make money. If they don't, I don't. It doesn't take complicated arguments about revisions in health care policy or the ability of the top .5% to accumulate capital to fund investment in growth sectors to understand why I will or won't make a buck.
I've got plenty of access to capital. I worry about health care, of course--a hell of a lot more than the typical German small businessman. But I'm in the same boat as everyone else. If my health care costs or finance costs or costs for conforming to some regulation or another rise, well, it's probably true for my competitors too. We all jack our prices a little and none are really that much better or worse off than the others.
But if you take jobs away from my customers, especially in this current economy, well, I'm fucked. If the customers have no money, I have no business. Corporations are sitting on trillions of dollars in cash right now, too afraid to spend it because there's no point in investing if there ain't consumer demand. I am sitting on a very small nest egg too for the self-same reason. The only entity in the US that does have the wherewithal to cut massive checks in this economy is the federal government. Meanwhile, we've got infrastructure problems all over the place.
I'd like to see our government:
1. Implement some new tax brackets for those making, say, more than $1 mil and $10 mil.
2. Vastly simplify the tax code for everyone, eliminating almost all deductions. Just a nice simple progressive system with space for obvious keepers like 401ks and college savings plans. Other than taxing the top .5% of the US more, it's otherwise revenue neutral. The focus is really simplicity, not raising revenues.
3. A long-term plan for Medicare/Medicaid/SS that puts it on the path to stability. I'm ok with raising ages, "death panels" (lol--I prefer the term "advanced care planning consultations", but whatever) and means testing.
4. Short-term investment in a major infrastructure stimulus plan focused on ports, highways, power grid, rail, etc. Also invest more in science/NASA, but the real dollars are actually quite minor.
5. Pulling out of Iraq/Afghanistan.
Honestly, I think if Americans had an up or down vote on the above, I'd be shocked if it didn't pass with massive overwhelming support.
It's a moderate, middle-of-the-road roadmap that sadly only makes sense in the real world and not the political world. So of course it has no chance of happening.
Was it something I said? I sure hope so.
