It’s true that government can create jobs, but it’s terribly expensive and usually creates duties of questionable necessity. Of course, letting contracts for construction can put people to work … and that means spending paychecks and paying taxes.
Government can also hand out tax incentives to businesses that hire people. But I’ve always believed that a thriving, growing business is not motivated by tax incentives to put people to work.
I think it’s up to business and industry to create new jobs. Government should look at its laws and regulations, and eliminate those that unnecessarily tie businesses’ hands. As long as a business operates legally, it should be allowed and encouraged to compete with as few restrictions as possible.
Politicians ought to look for ways to enhance economic freedom in the private sector and ensure that competition is fair; then get out of the way.
Corporations are sitting on billions in cash, but unless somebody makes and sells something, there is no reason to spend that money on creating jobs.
Our thought for today is from Henry Ford:
“The highest use of capital is not to make more money, but to make money do more for the betterment of life.”