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Forbes Media Chairman Steve Forbes and Captive-Aire Systems CEO Bob Luddy on why government policies and regulations hurt businesses and job growth.
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Laid out -- last three trapped.
Somehow as usual it involves yet more government but does government create jobs.
Bob bloody created real jobs about 700 he built a business.
And Steve Forbes runs the magazine that calls itself probably a capitalists -- because he understands real jobs are created by capitalism.
But Steve I don't think people get that because polls show what you want government to do create jobs.
All government can do John is create the environment where people go out and create jobs -- -- the government can just -- jobs they could just pay people to do stuff.
-- magicians can create rabbits but not -- its.
It's not not in the real -- And and and so -- when they.
Government tries to do -- businesses do you get Solyndra it's meritocracy vs cronyism.
And we have an environment are entrepreneurs can do real things.
And chief success and accept failure not get bailed out by the government.
By golly this economy creates jobs and allows people to move ahead as Abraham Lincoln said improve your lot in life.
Government keeps people and their place.
Government -- opportunities because government does not know how to create things real people do.
-- the people and they will do it.
Topic.
-- -- years ago to start a business you make kitchen ventilation systems fans that suck up the bad air.
And now government wants to make your business better and I see there about seven -- nine pages from the Energy Department.
That they're going to help you.
Health all of you.
That continue mention -- small enterprise focusing on 79 pages of new government regulation.
Many -- the manufactures and our business are very small you know other resources to do this it'll.
At 79 pages it's too abstract but I tried to read any of this -- in how.
No notice of for pool proposed rule making customers subgroup analysis section thirteen.
Complete MIA missing in action it's unintelligible.
And it but what they're trying to do is make your.
-- use less electricity.
We already use them the smallest amount of electricity we can we have a very efficient and industry.
It's essentially we have a paradox here the president wants to create jobs but he wants regulators to death.
As Steve Forbes mentioned the key to creating jobs is freedom creativity.
The involvement of families -- investment small investments that are made over very long periods of time and government.
Dampens that for all of our company.
John the thing to keep in mind is you don't succeed in a true free market unless you meet the needs and wants of other people.
So even if -- the caricature Obama nesting for money and all like kind of stuff.
If you don't better sure Obama the one that he.
Paper -- pays a view of -- plus -- being -- -- all like kind of thing can take your no -- over your pile of money yes and and helping people get more miserable.
It's it's it's absolutely perverse.
But even if you lust for money John you don't get it -- should provide something that somebody else wants.
And that's why in terms of electricity that the market wants more efficient fans.
Bob will provide them and other entrepreneurs will provide them.
Government -- -- -- markets respond just take the cellphone you know the thing thirty years ago because a shoe box.
Cost 3995.
Dollars the President Obama had been involved not -- today.
9995.
Dollars and could -- be talking.
Brings us some stuff.
But the president says it's not fair -- CEOs that you you get all the money and the average person doesn't get any.
And that's not fair he's gonna raise the minimum wage.
Sounds fair to people if CEOs are making a lot of money than they must have an awful lot of success and they must of police a lot of customers.
Just like baseball players do or movie actresses.
All right but raise the minimum wage for the guys at the bottom.
With the guys at the bottom are teenagers and what is gonna do is just taking out all this jobs I -- for 85 cents an hour and I was in high school.
And I was very happy to have that job.
John when people start out -- life they don't have the skills.
This in May when you get taken an entry level job.
You start to get the skills to move up start to get to higher wages as you get more skills what this -- does is create more teenage unemployment they never get a chance to -- of the workforce of Paramount who are most at.
People applauding that line.
They get it they're the ones hurt the most by the stuff the president said six million new jobs have been created since he took office.
Yes as if he created them what he left out is.
That -- -- pay of those jobs John overall their low skill low wage jobs not the kind of diversity of job creation we -- with Ronald Reagan.
And with Bill Clinton we had an environment or -- commercial not punished for trying to do real things.
-- sense the public is against you or look in yesterday's New York Times.
Big front page story young.
Voters are liberal and open to big government.
And when you poll people young people especially what you want government to do create jobs so we understand -- somehow a free market does that.
But we're not.
Within the hearts and -- John that the free lunch always sounds good going in -- 60%.
Of the small business job creators.
In a recent survey said that.
The federal government.
Is hostile to small business now how can the federal government be hostile small business and create jobs it can't happen it's a paradox.
And I mean eat your CEOs in general have been -- they have not wanted to participate in the public debate you're -- -- -- or CEOs to speak out but this small business.
People are speaking out.
In this survey saying that the federal government's hostile.
And it's that inhibits job creation.
It dampens freedom just like our friends -- at the Department of Energy was 79 pages of regulation so why don't more entrepreneur -- were CEOs speak about -- they're intimidated by political correctness and and they're afraid of the federal government frankly.
That if they speak out they'll be regular absolutely.
Or they may be targeted by the IRS who knows.
Look -- look what had to happen to Standard and Poor's.
They did -- poor job but sort of their competitors who gets targeted standard poor's lowers the rating of the government government targets them.
A -- told.
Next to Michelle Obama -- was head of apple Tim Cook.
And what that I thought that there's a big difference there -- Obama's praising gives us.
But Obama now that he's one has a captive customer base for four years.
You and Tim Cook yet to please your customers every second -- you lose them in you lose everything -- -- Big difference.
And CEO turnovers the highest it's ever been.
You -- all of us feel sorry for on the page view you well the market works.
If you're paying a lot -- expect to deliver if you don't out should go who wish we had that kind of thing and baseball.
Or in politics thank you -- -- -- --
