On The Road with Dave: Creating an Ongoing Economic Incentive and Booming Economy!
“We have too many high sounding words, and too few actions that correspond with them.” --Abigail Adams
Note: Below is a brief summary of this week's video. Please click the link above to view the entire topic.
The Things that Congress Could Learn from Farmers...
[Admittedly, this is one of those topics that makes a lot more sense if you watch the video, but here goes...]
There is perhaps no better industry to illustrate the importance of setting a proper environment for productivity than farming. If cows aren't able to digest food in a relaxed setting, they won't produce as much milk. If a growing season doesn't provide an optimal mix of sun, moisture, and soil nutrients, crops don't grow well. If chickens are artificially stressed, they won't lay eggs and it takes them an unnaturally long time to re-establish confidence in their surroundings to start producing again.
The same holds true for our economy. Think about it...if the government meddles too much in market operations, businesses don't expand. If the mix of taxes and revenue aren't optimal, the economy won't grow. And if there is too much artificial stress (through mandates, regulations, etc.), then the economy freezes and it takes a painfully long time to regain it's footing for expansion.
Of course, in both farming AND the economy, we need to make sure to keep the proverbial "Madoff out of the hen house"...which means that just the right amount of oversight is always necessary...
Squaking from the Roost
Last week we talked about establishing a tax holiday starting immediately and going through the end of 2011 for all investments in new ventures and expansions of existing companies. Well, what happens after 2011? Simple. To constantly maintain an atmosphere conducive to economic growth, we replicate tax laws as they apply to home ownership: defer capital gains taxes when proceeds are re-invested. If business investors can defer taxes on gains they make by investing in subsequent businesses, we maintain a uninterrupted flow of start up (or expansion) capital in the economy. This, in turn, creates constant economic activity, job creation, and an on-going environment that is favorable for a robust American economy. It's a simple solution that meets the three criteria that we've established as being critical for any program going forward: 1.) it is Constitutional, 2.) it doesn't increase government spending, and 3.) it doesn't grow the size of government. (...and 4.) it works!)
Friends, we can do this. And when we get our economy back on track by re-igniting the entrepreneurial flame, we'll be one step closer to a the dawn of a new morning in America, again.
I hope you enjoy the video and I look forward to seeing you on the road…
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Paid for by Westlake for Senate, Tim Beine, Watertown, WI, Treasurer