Jobs and Un-employment
Each public sector jobs exists at the expense of every private sector job. The result is less private sector investment, smaller margins, and an unfavorable environment for business. The best way to improve the labor market is by reducing the barriers erected by governments. This includes lowering taxes, reducing or eliminating business license requirements, provide easier access to capital, and scaling back crippling or expensive regulation.
Instead of tending to the basics, the US government has grown into a bloated conglomerate of political services that gets larger every year — with no end in sight. Libertarians believe that the government’s role should be to protect our Constitutional rights and defend us from foreign attack. A federal government that did only those two things could do them better and at a small fraction of the cost.
In the United States, politicians pay for non-smoking campaigns while subsidizing tobacco farmers, send foreign aid while the deficit swells, spend exorbitant amounts on public art, run trains, bail out banks, construct houses and buildings, sell insurance, print books, and build sports stadiums. The bulk of welfare tax dollars goes to pay the handsome salaries of well-educated welfare workers, leaving the poor with little but a cycle of despair. The fact is, every service supplied by the government can be provided better and cheaper by private business in a competitive marketplace. Libertarians want to stop the wasteful spending of tax dollars and get government out of “non-essential” expenses.
Libertarians advocate a world not of mandates, force, and decrees, but of voluntary agreements, opportunity, and free will. Economic studies have shown that minimum wage laws lead to inflation and raised living expenses, and increased unemployment rates. The Libertarian Party promotes the end of minimum wage laws, to allow greater market access to workers with lower skills levels who would otherwise be priced out of the market, thereby increasing employment.
Libertarians believe you should be able to opt out of Social Security and invest your money in a retirement account. An account that you own and control – one that politicians can’t use to fund current endeavors. Although most won’t admit it publicly, politicians' “solutions” to the Social Security crises are a combination of tax increases and benefit cuts. Libertarians know that there’s a better way. Countries like Chile, Mexico, Britain, and Australia have successfully made the transition from their failed Social Security systems to healthy systems based on individual retirement accounts. It’s time America did as well.