Hillary lost $6 billion but wants to run the economy

Hillary cannot account for six billion dollars lost when she ran the State Department.  But she now wants to run the U.S. economy.

Hillary's economic plan is:

1) raise corporate taxes,

2) raise the marginal rate on those making over $250,000 (the average fee Hillary charged for a speech),

3) raise the minimum wage,

4} free college for everybody,

5) open borders and open trade in the Western Hemisphere,

6) have the government retrain workers who lose their jobs.

7) If the above fail, then raise more taxes and more government spending.

First, the corporate tax rate should be zero.  Corporations pay the income tax by raising prices on their products and paying less money to their employees and shareholders.  If the tax rate is zero, then a corporation has more money to develop new products and hire more employees.  More employees means more taxpayers.  If you want more employees, then you need more employers.  If you want more employers, then employers must make a sufficient profit, which they cannot do with high taxes and excessive regulation.

Second, the minimum wage was intended for entry-level positons in part-time low-skill jobs such as fast food outlets like McDonald's.  It is not intended to be a wage to raise a family.  One starts at entry-level jobs, learns skills, and gets an education either in college or in a skilled trade such as plumbing, electrical, etc.  One does not stay at McDonald's for the rest of his life.

Raising the minimum wage affects how many employees one will hire.  For example, many grocery stores now use self checkout, and all gas stations (except in New Jersey and Oregon) are self-serve.  This eliminated many entry-level jobs.  Moreover, if the answer is to raise the minimum rate and you believe, as Hillary does, that it will not have any effect on how many employees an employer retains and hires, then raise the minimum wage to $50 per hour, and everyone will make $100,000 per year.

Third, Hillary believes that employers must be taxed and regulated by the government to the extent that the employers do whatever the government wants.  She believes that the government can run the economy and that the government creates jobs.  She believes in a command economy.  This assumes that the excessive regulations and taxation do not have any effect on whether employers hire and expand their business, and that employers stay in business even if they do not make a profit sufficient to stay in business.

In summary, Hillary believes that we can have economic growth by taxing and regulating employers with no effect on job creation.  She ignores that Obamacare has caused employers to reduce the hours of employees to part-time status to avoid providing medical insurance.  And when employees lose their jobs because employers cannot do as well because of the high taxes and excessive regulation, then the government will step in to retrain these employees.  But there will not be any jobs if employers are highly taxed and highly regulated to the point they cannot earn a sufficient profit on their time and investment.  There is no incentive to stay in business.  Hillary's plan decreases any incentive to open a business and expand a business.

Hillary's economic plan is consistent with expanding government control over our lives.  During her tenure as secretary of state, over six billion dollars cannot be accounted for.  Imagine running a business where you cannot find six billion dollars.  Do we want someone trying to direct the  economy when she cannot account for six billion dollars?

It does not matter how much you raise the minimum wage if there are no jobs.

Hillary cannot account for six billion dollars lost when she ran the State Department.  But she now wants to run the U.S. economy.

Hillary's economic plan is:

1) raise corporate taxes,

2) raise the marginal rate on those making over $250,000 (the average fee Hillary charged for a speech),

3) raise the minimum wage,

4} free college for everybody,

5) open borders and open trade in the Western Hemisphere,

6) have the government retrain workers who lose their jobs.

7) If the above fail, then raise more taxes and more government spending.

First, the corporate tax rate should be zero.  Corporations pay the income tax by raising prices on their products and paying less money to their employees and shareholders.  If the tax rate is zero, then a corporation has more money to develop new products and hire more employees.  More employees means more taxpayers.  If you want more employees, then you need more employers.  If you want more employers, then employers must make a sufficient profit, which they cannot do with high taxes and excessive regulation.

Second, the minimum wage was intended for entry-level positons in part-time low-skill jobs such as fast food outlets like McDonald's.  It is not intended to be a wage to raise a family.  One starts at entry-level jobs, learns skills, and gets an education either in college or in a skilled trade such as plumbing, electrical, etc.  One does not stay at McDonald's for the rest of his life.

Raising the minimum wage affects how many employees one will hire.  For example, many grocery stores now use self checkout, and all gas stations (except in New Jersey and Oregon) are self-serve.  This eliminated many entry-level jobs.  Moreover, if the answer is to raise the minimum rate and you believe, as Hillary does, that it will not have any effect on how many employees an employer retains and hires, then raise the minimum wage to $50 per hour, and everyone will make $100,000 per year.

Third, Hillary believes that employers must be taxed and regulated by the government to the extent that the employers do whatever the government wants.  She believes that the government can run the economy and that the government creates jobs.  She believes in a command economy.  This assumes that the excessive regulations and taxation do not have any effect on whether employers hire and expand their business, and that employers stay in business even if they do not make a profit sufficient to stay in business.

In summary, Hillary believes that we can have economic growth by taxing and regulating employers with no effect on job creation.  She ignores that Obamacare has caused employers to reduce the hours of employees to part-time status to avoid providing medical insurance.  And when employees lose their jobs because employers cannot do as well because of the high taxes and excessive regulation, then the government will step in to retrain these employees.  But there will not be any jobs if employers are highly taxed and highly regulated to the point they cannot earn a sufficient profit on their time and investment.  There is no incentive to stay in business.  Hillary's plan decreases any incentive to open a business and expand a business.

Hillary's economic plan is consistent with expanding government control over our lives.  During her tenure as secretary of state, over six billion dollars cannot be accounted for.  Imagine running a business where you cannot find six billion dollars.  Do we want someone trying to direct the  economy when she cannot account for six billion dollars?

It does not matter how much you raise the minimum wage if there are no jobs.