Ryan Olson points out at the Heritage Foundation blog that the agenda of this week’s World Economic Forum doesn’t include economic freedom. And that’s a problem, writes Olson. Among the members of the U.S. Congress attending is North Carolina’s Rep. Patrick McHenry (NC-10), a staunch conservative and defender of freedom. McHenry is a true believer in the impact of economic freedom on prosperity and I have no doubt he’ll be talking about it with other attendees.
Rep. McHenry has a particular interest in access to capital for small businesses. I learned this last fall when I profiled his District 10 congressional race against Democrat Patsy Keever. Here’s the pertinent excerpt from my Carolina Journal election story.
McHenry believes he has a strong record of effective conservative leadership. He points to his stewardship of part of the Jumpstart Our Business Startups Act (JOBS Act) as his biggest accomplishment of the past two years.
The law, signed by President Obama in April, includes McHenry’s idea for crowdfunding, which gives small businesses more options to raise money by allowing them to tap small investors through an online platform such as Kickstarter or Indiegogo. McHenry cites this law and his work on border security and trade adjustment assistance as examples of his ability to work with Democrats.
Here’s what McHenry said about the trip to Davos in the press release from House Majority Leader Eric Cantor, who is leading the U.S, congressional delegation to the meeting.
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Chairman Patrick McHenry said, “With nearly 50 heads of state and 1500 business leaders from around the globe gathered, the World Economic Forum will host a robust discussion on tactics to spur job creation and move our economy forward. It’s an honor to be a part of the U.S. Congressional delegation and I look forward to participating in the conversation, particularly as it pertains to new methods of capital formation for small businesses and entrepreneurs.”
From Rasmussen comes the Right Direction/Wrong Track chart that encapsulates where we are in this country.
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The January/February issue of The Atlantic includes an amazing piece about the regulatory nightmare being endured by Ernest Scarano of Ohio, who owns a small distillery. Here’s what he has to do to comply with government regulations.
Scarano unlocked an inside barn door to show me the horse-stall-size space where his rye was aging in small casks. “When you put it in, you have to pay an intake fee, and then you have to pay a storage fee, and then you have to pay an outtake fee,” he said. Transporting the liquor—which in Scarano’s case involves moving the whiskey from this stall to a retail counter about 50 feet away—triggers a minor avalanche of additional notifications and paperwork, exacerbated by the fact that Ohio, as a “control state,” holds a monopoly on the sale of liquor. This means Scarano has to “buy” the liquor he’s made himself from the state before he can resell it to customers.
This is just one example of why we must be very careful about imposing regulations. There must be a cost-benefit analysis, and that is rarely done. Here in North Carolina, regulatory reform is a key priority for the legislature. We will likely see lawmakers continue with reforms they passed last session.Read full article » No Comments »