5 Things the U.S. can do to revive economy.
While listening to U.S. President Obama lay out elements of his ” Jobs Act” to Congress as a road map to economic recovery, I was reminded of a simple solution that was passed along to me by Navin Chandaria, an Indo-Canadian entrepreneur friend of mine who operates more like an ultra-preneur.
His theory is based on the notion that Entrepreneuurs’ make the world go around. They take risks that others won’t, they build things, innovate, and create most of the jobs. He tells me there are tens of thousands of Entrepreneurs around the world who would give their eye teeth to operate in the United States and have access to the market but can’t immigrate easily or quickly ( partly because of the Patriot Act that was passed in the wake of 911. )
Here’s a plan that he thinks would turn things around in America if the Government did the following things:
1 ) Loosen the Patriot act to allow anyone who brings a minimum one million dollars ( U.S. ) or more into the Country – no green card required.
2) Impose the condition that in return for American status they must start a business within 6 months of landing and must hire at least 5 people.
3) They must buy one existing house from the inventory of homes under foreclosure within the first year of arrival.
4) They must buy one new American built car within the year.
He is convinced that Foreign Entrepreneurs who qualify will jump at the opportunity and that the American economy will begin to thrive because jobs will be created, the housing stock will diminish and American products will once again be consumed.
Too simple? Too dangerous ? What think you? – makes sense to me.