Wall Street Journal is reporting what was already known to all: new business start-ups are down. Well, indeed. Plans to give everyone welfare or govt union jobs will at some point go very bad, worse than now.
Research shows that new businesses are the most important source of jobs and a key driver of the innovation and productivity gains that raise long-term living standards. Without them there would be no net job growth at all, say economists John Haltiwanger of the University of Maryland and Ron Jarmin and Javier Miranda of the Census Bureau.
"Historically, it's the young, small businesses that take off that add lots of jobs," says Mr. Haltiwanger. "That process isn't working very well now."
Too many people have govt jobs to care. Problem is, when it goes bad, the fruit of their jobs, crushing through regulation the innovation creating new businesses, they will find no work for themselves when the feds default on the SS, one way or another.
I am not worried about taxes, because we can just outsource overseas to beat those. It is the regulations that are the killer. Pointless, like a TSA search.
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