Libertarian Party of Wake County Position Paper

How can we strengthen economic opportunity for North Carolina’s residents, businesses and entrepreneurs?

Summary

The way that individuals and businesses participate in our economy is strongly directed by state taxation and regulation policies. To create the jobs and businesses of tomorrow, we must encourage an innovative economic climate today.

State economic policy is heavily influenced by established, well-connected interests. These policies stand in the way of innovative new businesses and hurt the customers they serve.

Creating an environment where innovation can thrive and individuals can prosper starts with choice. When entrepreneurs can create new products and businesses can deliver new services without artificial barriers, everyone benefits.

Tax policy and regulation influences business activity

We rely on corporations, small businesses and entrepreneurs to drive our economy and support a better life for individuals and families across North Carolina. We need the jobs and industries that will propel us forward in the 21st century. We want an economic environment that benefits everyone in North Carolina. Our approach to tax policy and business regulation will determine if we will be a national and global economic leader.

Politically influential interests work together with government to limit opportunity

When government oversteps its regulatory or taxing bounds, politically influential special interests determine the shape of those rules. Politicians and agencies, despite good intentions, create a situation that benefits established, well-connected interests, and prevents better ideas and unique solutions from developing. When we ask bureaucrats to define how our economy can grow, we deprive ourselves of the potential for innovative businesses to imagine the products and services of tomorrow.

Choice can open doors to greater economic potential and better options

A better approach to policy will lead to stronger economic potential for everyone in North Carolina. This approach is based on the freedom for individuals, businesses and entrepreneurs to explore innovative ways to participate in the economy. It includes the freedom for owners, employees and professionals to strengthen today’s established businesses and create the innovative businesses of tomorrow. And it opens doors for people to engage in personally and financially rewarding occupations.

North Carolina can promote the type of prosperity-generating economy that invites everyone to share in its potential and income mobility. Businesses and entrepreneurs need the choices that allow for better ways to serve customers and employees. Individuals need the choice to define the work environment that meets their personal needs. And consumers need the ability to make choices about their own economic activity. With more choice to personalize and innovate, we can promote a stronger, more dynamic, future-looking economy that supports everyone in North Carolina.

Real, Practical, Effective Solutions for Economic Policy

• Eliminate or reduce state occupational licensing requirements that simply represent financial protection and do not perform a critical role in vital public safety, opening economic doors for millions in North Carolina.
• Eliminate restrictions that force business relationships between private parties, such as those between North Carolina’s craft brewers and distribution middlemen, allowing these businesses to grow in ways that best serve owners and customers.
• Lower the costs and regulations for starting a new business, enabling entrepreneurs and small business owners to follow their dreams and create the great North Carolina businesses of tomorrow.
• Strengthen the ability of property owners to meet the growing needs of our expanding and changing population through unique residential configurations that allow for small dwellings and affordable housing.
•  Support the sharing economy and the ability for individuals to define the way they utilize their time and property for their own economic benefit.