Jeff Thompson on The Economy
Campaign Website Statements
Jobs & the Debt
Creating jobs, balancing the budget and reducing our debt
Job creation initiatives:1) Repeal as much regulation as possible! When a business person has an idea that they think could be profitable, they need capital in order to implement the idea. Our current regulatory environment discourages new and expansion of current business because the compliance of regulations is costly and burdensome. Often times, extra employees must be hired just to fill out government forms. This cost reduces the profit margins and discourages new start-ups. In addition, when you add these costs to businesses, they pass the costs on to consumers thus, it increases our costs for goods and services. It’s bad for businesses and it cost the consumers more! There are a lot of very successful people that are sitting on the sidelines, waiting to see what happens, before they will risk their capital to start a new business or expand their current business. Repealing as much regulation as possible must be a priority!
2) It’s time for repatriation of off shore money. There is over a trillion dollars of money in offshore institutions because of our poorly thought out tax code. We need a “Repatriation Holiday” where all of the money can come home without the 35% tax. I propose bringing it back tax free with one condition: instead of a 35% tax, you must use at least 25% of it for new jobs. Let’s get the money back in our economy.
3) Approve the Keystone Pipeline. Instant jobs, treat our neighbors to the north with some respect and dignity. Very low risk of oil spills. Remove restrictions on drilling. Allow for shallow water drilling. Very safe, instant jobs, increased oil supply. Both of these initiatives will reduce the price of gas because oil speculators don’t like to bet on the price going up when they see an increase of supply on the horizon. Lower fuel prices will aid the economy, reduce the shipping costs of goods and services and create more jobs in other sectors.
4) Bring home as many of our troops as is feasible. 53,000 in Germany, 28,000 in Korea. Imagine if we stationed them along our southern border. First, we’d increase border security. Second, they would be spending their money in our country instead of abroad. This would also boost our economy! In addition, it’s time for other countries, that enjoy our security, to pay for it. Japan, Germany, Korea, Kuwaitand many others have enjoyed the security provided without paying the cost. This must change.
5) Reduce taxes. We are taxed over 47 different ways. Our citizens are entitled to the fruits of their labors. We give too much of our hard earned money to the government and they are very poor stewards of our money. The American people spend their money much more effectively than the government. This will also create jobs and stimulate the economy! Remember every time our government taxes a business, it costs the American people more for goods and services.