Business & Job Creation
Businesses need a friendly and fair business environment so they can compete, innovate, and create jobs. We’re keeping politicians from playing favorites by offering special deals and tax breaks to the favored few.
With America’s unemployment rate at or above 9 percent for three years, prior to the rate being pushed down by people leaving the workforce, job creation is on everybody’s mind. Unfortunately, for many policymakers across the country the ideas to turn that rate around – tax breaks for big corporations or outright subsidies to biotechnology, solar power, or other high-tech industries – have been tried, with little to show for them.
Since 2001, the federal tax code allowed business owners to write off more of the investment they make in their company each year and, today, businesses can write off 100 percent of the capital investments they made this year. But if Congress and the President don’t act, that tax cut will end in January 2012. State policymakers, on the other hand, could offer a little certainty in their state income tax code by allowing businesses to immediately write-off on their taxes the full value of their new capital investments.
On November 10, 2011, Wisconsin Gov. Scott Walker keynoted the Goldwater Institute Annual Dinner.
PHOENIX — In Arizona and across the country, small business owners and entrepreneurs spend billions of dollars and countless hours complying with regulations. But a new recommendation from the Goldwater Institute could offer these businesses help – and boost the jobs outlook along the way.
With unemployment above 9 percent for more than 2½ years, the last thing Arizona needs is a mandated increase in the price of labor. Yet, that is what we’ll soon have when the state’s minimum wage rises by 30 cents an hour, a result of a 2006 ballot initiative.
The Goldwater Institute is representing Cindy Vong after the Arizona Board of Cosmetology shut down her foot therapy spa, which uses tiny Garra Rufa fish to eat the dead skin off of customers' feet. Ms. Vong went on the Peter Schiff Show to discuss her case.
The Goldwater Institute's Stephen Slivinski appeared on KFNX's Legalease, along with State Representative John Fillmore, to talk about job creation and a proposal that would create a state bank.
The Goldwater Institute's Dr. Byron Schlomach appeared on KAET's Horizon to discuss Arizona's new venture capital endeavor--the Fund of Funds.
These days, most states have some sort of government agency responsible for bringing jobs into the state. Most of them, including Arizona’s new Commerce Authority, focus on “target” industries. Whether the focus is the solar industry or another group of companies, the punchline is always the same: a centrally-controlled body – either the agency or the state legislature – should direct taxpayer-financed resources to nurture specific companies for the good of the state’s economic future.