Jobs (or the lack thereof) are a key indicator of the state of the U.S. economy. We are still losing jobs, which really is a concern of mine, as it is most Americans. Since small business makes up 99.7% of all employer businesses, it only makes sense that if jobs are on the rise, then the economy is doing well. It doesn’t take long when I turn on the television first thing in the morning to hear about the unemployment rate on the rise. President Obama claims to be pro-small business, but his ideas generally seem counterintuitive to promoting small business (increasing taxes on small business? Really?) So how can the government really help small businesses create new jobs?

I have an idea.

Hopefully, most of you small business owners have some of that green stuff in the bank at the end of your fiscal year. That money is called “profit”. The problem with Uncle Sam and that pile-o-cash (some are small, others are big), is that he wants to tax you on it. But you and I both know it really isn’t “profit”, it is money that is poured back into your business to help increase its success. So what ends up happening is Uncle Sam takes a large portion of the money you would use to help grow your small business next year.

To solve both issues, how about we create a government-mandated “account”, similar to the Section 125 cafeteria plan used to help pay out-of-pocket medical and childcare expenses, that is tax-free and can only be used to “hire” and employ new people for the coming year? Don’t get me wrong, I am not a proponent of more government, but if the government must get involved to help stimulate job growth, this seems like an excellent way to promote job growth, help the small business, which in turn will stimulate economic growth.

Of course, my idea needs some work. I have been thinking about this for a few months now, and it seems plausible to me. I say it is time to turn Mr. Obama's campaign slogan “Yes We Can!” into an action, rather than an empty promise.