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Forbes Media Chairman Steve Forbes on how the Administration can help stimulate the economy to boost business and job growth.
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Hi I'm just wrapping up restate bus tour in Illinois holding another town hall meeting at this hour earlier today the president give it some hints about what -- -- -- -- new plan to create jobs and this is the plan He will unveil -- -- speech next month but Steve Forbes already has some suggestions on what President Obama should say the chairman and editor in chief of Forbes media.
Joins us now.
If you're the president right now what would you say at these town hall meetings.
Well first I think -- governor Romney did get off for good phrase magical misery tour.
Because the president simply trotting out and updating has failed proposals what He should do is is gonna have a dollars good as gold.
Genuine reform that tax code stopped have been spending.
Repeal obamacare -- see the Dow Jones go up a thousand points is approval ratings go up twenty points He get reelected but He can't bring himself to repudiate what he's done.
Are at least say about the dollar being as strong as gold is basically getting foreign investment here attracting foreign capital in here right -- -- to deceive the government and -- -- -- -- neither Republican -- Democrat.
But also this notion that they can create purchasing power that the Federal Reserve can create purchasing power the -- is pushing on a -- right now.
Why do you create jobs and how do you create demand in this environment how do -- I -- to say about what the president -- -- and that -- -- but it wouldn't.
-- -- when when you print money or you're doing is confiscating people's real resources through the printing press for -- learned that from the 1970s and governor Perry even though -- of let's say over vivid in -- description of the Fed mr.
Bernanke.
I did have a valid point about the Fed -- -- chief cause of the misery we have today printing too much money.
So the way stimulate the economy is having money people can trust so instead of having capital lead the country capital comes back to the country.
Lower taxes on businesses so businesses start up again.
Have a simplified tax -- of people -- use their brain power for productive things and not crush businesses with regulation I mean we've got 4000 pages of Dodd-Frank.
Obama care thousands of regs coming up to match what the EPA is doing to the energy industry.
Well you look at all of the things that these headwinds.
You wonder where at the tail winds at this point four big corporations and small businesses as well yesterday the SBA -- was on with us and said.
They're going to double their investment in rural small businesses and try and help them get off.
The grounded in this situation but let's go back to -- this point.
Creating demand out of thin air you can't make demand can you.
You don't make demand the American people do it if He would get out of the way in that we did that in the early 1980s.
Killed the inflation so the dollar had integrity again.
Lower tax rates -- simplified the tax code.
Deregulation one of the first things Ronald Reagan did when He got -- officers -- price controls and oil and gas on gas prices went down production went up.
American economy move forward we can do it again today.
People create demand by in effect trading with one another Adam Smith got it right maybe we should send a wealth of nations of the White House.
Having -- -- you look at Nixon who's more of a central planner than anybody right pocket He didn't land Smith by the Russians but this didn't -- of the Republican candidates.
Best matches what you survey and do it seems like it's a mixed message well there -- getting their acts together.
There are Ron Paul whatever you think of us foreign policy not profoundly disagree with them on that does get it right on money.
I think Rick Perry is Begin to realize the potency of not having the dollar trash so I think that's going to be winning issue for him.
We'll see if Michelle Bachmann picks it up.
And that governor Romney.
All I know is that He doesn't want bureaucrats to hurt people well I think that's nice but it's not gonna help -- -- Seems as if the candidates that are emerging here all have a right on one or two issues but then there are problems in some you know what that was -- a lot of them are sort of feeling their way of saying -- -- this this is why I drive by the the process now.
Is not gonna be to instructive because these people are getting their sea legs as a whole new arena.
Never been an arena before everything you say is going to be held against you one way of the of the can't -- a comment you think it's funny others are not going to think it's funny looking at but by the end of the year early next year.
These people will have their act together and they'll be formidable candidates including governor Perry -- what's reflected to the markets though and stocks and -- corporations we just had.
-- for staying on and He in essence says that the Dow's going to 8200.
Can buy them.
Well -- the Federal Reserve goes on another binge who knows what happens in Europe but in terms of investors my advice to them would be.
We're gonna see our way through this next year and a half.
2013 is going to be like the early 1980s this country's get back on track it's very messy process but we're getting back on track.
Stay with it you'll get rich and sit tight okay Steve Forbes thank you so much thank you be capitalist.
