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Are Regulations Hurting Job Growth?

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    Forbes Media Chairman Steve Forbes on the impact on the job market of government regulations.

  • Duration 3:38
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This transcript is automatically generated

Such as make is that there's too much regulation so it's just too hard to get anything done but if you don't have regulation EC would happen in the financial crisis that's -- argument others tactics when he said that.

That's one thing to have rules the road like you don't go hundred miles an hour and -- own but quite another only government tells you what to drive -- to drive and one to drive.

That's the kind of regulation we're getting today.

The congress turns down cap and trade -- the EPA is gonna do it by rule making like this is a third rate to Third World country.

Mean come on we have the rule of law once the administration -- -- to realize that.

He don't do by Dick -- Fiat what congress doesn't say can do but how do you know you are in the spectrum.

I mean we thought we had a lot of regulation before and in the financial crisis happen.

So prove that they we didn't have it now we think no one lot of current terms the financial crisis the biggest cause of the financial crisis was not wayward banks.

It was the Federal Reserve burning too much money to have Britain too much money never had the juice for the housing crisis who created Fannie and Freddie.

Federal government who told banks they should lower their mortgage standards the government who said he should go on communities you normally wouldn't go into -- -- have a higher standards the government.

Do we get crazy with the American dream of everybody owning a home.

One government pushes it yes when you allow normal market forces to take place -- Canada which should none of that junk that we did.

Has higher home ownership proportionally than we do.

We are just people trust the markets which are people.

We are in the deep -- now I mean when you really look around at how much the economy has stalled how many people are out of work.

You we keep talking about the U six number which is the actual measure of people who are totally discouraged.

Ticked up again they're too discouraged to look for job whether or not they don't have enough work to make and as much money is they actually need.

How long do you think it's gonna take to take out of this -- You could do within a matter of a few months we saw that in the early eighties when we finally killed the inflation.

Tax cuts came in this economy came roaring back at 8% a year instead of 2%.

Would be good vice president right way.

While -- though thankfully the Republicans have a good deep bench you've got to Rob Portman Bobby Jindal of Louisiana Chris Christie in my home state.

-- rubio won Florida.

-- -- Kelly I have -- from from New Hampshire.

-- -- -- -- -- -- -- like Paul Ryan of Wisconsin yeah I've known for years and he is a man of substance.

But the others would be strong candidate let anyone who can do math I think when you did CFO to run this country don't you -- Paul Ryan has gotten -- calculated to do is just.

That's ranks and -- -- the former an anti don't wanna ask you about this as story coming out of the UN the billionaire's tax I don't know of you've heard about this and it got together and they -- -- somebody intelligent about it right.

Pulled on your wallet they -- that together you know the billionaires.

Own an estimated four point six trillion dollars and -- and assets so 1% tax on their well.

Would raise 46 billion dollars.

It wouldn't hurt them right this is -- what they were all -- To each other what do you think about that what what next you billion REIT trust the U -- 46 billion dollars who do you trust more to invest money.

Bill Gates -- the United Nations I'll take -- you -- they would say that they're gonna -- help starving children and that that's where where the money she -- -- gonna go to some don't like Bill Gates -- done more to get vaccines and help people around the world -- bureaucracies because one -- knows how to run a business -- knows how to crack -- bring together and get real things done.

That's what you want on another bureaucracy that's for most the money goes bureaucratic -- get people can make real things happen and free markets.

That's -- you lift people out of poverty.

Steve Forbes so much for coming on I -- appreciate -- thank.

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