Let's talk about the American economy by focusing on the importance of hard work, fair opportunity, and the values that help businesses and communities thrive.
First, I believe in an America where hard work is rewarded—where people can enjoy the fruits of their labor. A strong economy isn't just about numbers; it's about having a system that balances capitalism with integrity. This means upholding our constitutional freedoms while also ensuring that taxes and regulations aren't overwhelming. The goal is to create an environment where free enterprise can flourish.
Did you know that over 33 million small businesses are running in the U.S. right now? These businesses employ around 62 million people—almost half of the entire workforce! They’re the backbone of our economy, making up more than 90% of American businesses and contributing to about a third of all exports. Yet, these small businesses are under pressure from high taxes, strict regulations, supply chain issues, and monopolies from large corporations. These challenges are holding back our nation’s entrepreneurial spirit.
The Scriptures put forth the principle that if someone doesn’t work, they shouldn’t expect to eat. However, we know God doesn’t just want us to make a living; He wants us to prosper, using the gifts He’s given us. That’s why we value business—it’s an American tradition and a way servant leaders can make a real impact in the world. But when businesses are buried under taxes and excessive regulations, they can’t focus on creating jobs or supporting new startups.
One key area that needs fixing is our tax system. We need something simple and fair. A 10% federal flat tax, with no loopholes, deductions, or shelters, would be a start. The current tax system is too complicated. Each state should have the flexibility to set their own tax rates, considering the well-being of their residents. States should also encourage new businesses by offering tax breaks, especially in areas where economic opportunity is lacking.
Another major issue is overregulation. Many of the rules in place end up hurting small businesses while giving big corporations an unfair advantage. Instead of constantly adding new regulations, we should focus on keeping the ones that make sense and getting rid of those that are outdated or unnecessarily complicated. After all, when businesses succeed, they create jobs and help the economy grow. But this doesn’t mean that we should be against all regulations. Some are necessary, especially when it comes to preventing crony capitalism, where government and big business work together at the expense of taxpayers. We also need strong oversight in industries like food, drug, and tech to protect public health, maintain fair competition, and ensure freedom of speech.
When it comes to the idea of a minimum wage, it's often seen as a way to help workers, but it’s not really supported by Scripture. In Matthew 20, Jesus tells a story about a vineyard owner who pays workers the same wage, even though some worked longer than others. When those who worked the longest complained, the owner reminded them that he was free to be generous with his money. The point is that employers should have the freedom to decide what to pay their workers.
Raising the minimum wage might sound good, but it can actually hurt businesses, especially small ones. It reduces profit margins and can make it harder for them to hire new employees, especially for entry-level jobs. This has a big impact on young people and low-skilled workers, who rely on these positions to gain experience and move up in their careers. Thankfully, in a capitalist system, workers have choices. If they want higher pay, they can seek out more training, switch jobs, or even start their own business. Companies that don’t pay their employees fairly won’t be able to compete long-term. I believe in creating an environment where companies are empowered to pay fair wages and employees have opportunities to grow.
In the end, a strong economy is about freedom - freedom for businesses to succeed, for workers to choose their path, and for communities to flourish. That’s the America I believe in.
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