First the good news:
A contrary view, by Tom Friedman in the NY Times: "Good-paying jobs don't come from bailouts. They come from start-ups.
Far be it from me to put words in Mr. Friedman's computer, but the gist of that article would seem also to imply, "Good-paying jobs don't come from new IRS agents and bureaucratic oversight. They STILL come from start-ups."
I cited that Friedman article in this blog back in April. The points Friedman made then still apply:
my fun fact for the day, provided courtesy of Robert Litan, who
directs research at the Kauffman Foundation, which specializes in
innovation in America: “Between 1980 and 2005, virtually all net new
created in the U.S. were created by firms that were 5 years old or
Litan. “That is about 40 million jobs. That means the established firms
no new net jobs during that period.”
"Message: If we want to bring down unemployment in a sustainable way, neither rescuing General Motors nor funding more road construction will do it. We need to create a big bushel of new companies — fast."Link to that Tom Friedman article, "Start-ups, not bail-outs"