Every American voter is approaching a critical decision. Of the two presidential candidates before us, who is best suited to lead our nation through the next four years?
The answer to that question is a simple test: can they ignite economic growth? The economic crisis we face is our greatest threat, affecting every American. For investors – and today over half of Americans are investors in some form – this issue is particularly pressing as it impacts not just their financial situation today, but also their retirement and other long-term goals. Economic growth is the only ingredient that will help pull the country out of its present funk and allow us to solve our pressing issues.
Economic growth is the fuel that makes new jobs, creates new industries, and helps your hard work pay off. A four percent GDP growth rate would lead to three million new jobs every year and lead to higher wages for those already employed. Growth expands the tax coffers nationally and locally, enabling investments for the future. That same four percent growth will provide America with $150 billion per year in additional tax revenue. With growth, everyone benefits.
Growth is not complicated. It is a force of nature. But when it stalls, as it has for the last four years, it will not return without effective leadership. A great leader understands and applies the power of incentives to encourage growth. Incentives appeal to a basic human instinct and motivate productive choices. They are used throughout our lives from grades in school that encourage learning and higher performance, to the incentives we use at work through pay, bonuses and promotions to recognize and encourage accomplishment. Incentives are the most powerful tool a government and its leaders have to spur economic growth.