RI Economy: Solution is Obvious to (almost) All

John Kostrzewa writes:

The state’s economic development strategy needs short-term and long-term goals. It gets out of balance when too much energy goes into attracting out-of-state companies with tax breaks or taking care of the demands of the politically connected while deciding not to invest in developing companies that will create jobs in the future.
The other lesson is that the key constituency is the small-business owner. There are 54,000 of them in Rhode Island, and by Carcieri’s own estimate, they employ 90 percent of the workers. Too often, they feel left out of the state’s plan and think the state, with its tax or regulatory policy, is only out to hurt, not help them.
Small-business owners have a clear list of priorities; they want a lower cost to do business; access to capital; a consistent, manageable system of rules and regulations and the ability to keep more of what they earn.
The other constituencies — the elected officials who seek special treatment and the big-company leaders who have the ear of the governor — will all fall into place if the first two lessons are learned.

This is nothing new. It’s been said here, there and everywhere. The governor’s small business plan is a start, but more needs to be done, across the board.

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Tom W
Tom W
12 years ago

In the end, it all boils to the prevailing world-view of the Democrat General Assembly. Unfortunately, theirs is one hostile to business. This is nothing new.
Sir Winston Churchill once said, “Some regard private enterprise as if it were a predatory tiger to be shot. Others look upon it as a cow they can milk. Only a handful see it for what it really is: the strong horse that pulls the whole cart.”
The “progressives” wing of the Democrat General Assembly (and its RI Future cheerleaders) definitely fall into the “predatory tiger to be shot” camp – their weapon of choice being taxes and regulation.
The public sector union wing of the Democrat General Assembly definitely falls into the “cow they can milk” camp (even at the expense of their increasingly-unemployed private sector union brethren).
So the Democrat General Assembly’s “economic policy” inevitably skews toward those ends, their “photo op” special deals to high profile business “economic development” notwithstanding.
Which brings to mind another Sir Winston quote: “We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.”
This image should be the logo of the RI Economic Development Corporation, with the quote above the image, and the caption below: “Rhode Island, a state where the government will work hard to keep your business from succeeding. Come see for yourself!”

Tom W
Tom W
12 years ago

>>The public sector union wing of the Democrat General Assembly definitely falls into the “cow they can milk” camp (even at the expense of their increasingly-unemployed private sector union brethren).
I should have said:
The public sector union and poverty pimp wings of the Democrat General Assembly definitely falls into the “cow they can milk” camp (even at the expense of their increasingly-unemployed private sector union brethren).

Mike
Mike
12 years ago

Anyone else see William “Blackjack” Murphy on Newsmakers?
He was asked directly about pension reform and repealing the insipid Caroula Act.
Look at this youtube video for his answers. Look at the whole video for a good laugh.
http://video.google.com/videosearch?hl=en&q=best%20little%20whorehouse&um=1&ie=UTF-8&sa=N&tab=wv#

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