Please Remove Your Blinders
Published: February 8th, 2010
By: Tom Morgan

Please remove your blinders

Mr. President, Members of Congress, please remove your blinders. 

That is a tall order. If they would do so, however, they would help the entrepreneurs of this country create a lot of jobs and expand the economy.

The President has spoken several times about how he would like to see more and more young people spurn business to go into public service. That is an example of seeing this country through blinders.

With no disrespect to him or to the public service, this is terrible advice. The country needs more people to go into business. It needs more entrepreneurs.

Forbes publisher Rich Karlgaard reminded us recently that in the depths of the last horrible recession Apple sold stock to the public for the first time. That sale created over 300 millionaires among Apple employees.

Imagine the taxes they paid. Imagine how much tax they paid over the years since. Imagine how much tax Apple has paid. Imagine how much tax all the shareholders of Apple have paid.

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In those same horrible years FedEx, Southwest Airlines, Microsoft, Genentech and Oracle all got off the ground. Imagine all the taxes these ventures generated over the years.

Imagine what would have happened to these ventures – and thousands more – if government had tried to pick winners and losers among startups. Imagine if politicians had tried to decide which companies to steer government largesse to.

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