What's Killing the American Dream? | 5 Minute Video

The American Dream is real, but it may not be for much longer. What exactly is the American Dream? And why is it in danger? Elaine Parker of Job Creators Network explains.

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Script:

What do you call it when people have a great idea and risk everything they have -- time, money, energy -- to make that idea a reality?

I call it the American Dream.

Ritu Shah-Burnham had an idea. She dreamed of opening a pizza franchise in Seattle, Washington. It wasn’t easy – it never is – but she made it happen.

Richard Clark had an idea. Office buildings in fast growing Northern Florida needed janitorial services. He was bound and determined to see that they got it. He grew his business to over 200 employees.

Kenneth Jarosch oversees a bakery in Chicago started in 1959 by his father and grandfather. The neighborhood has seen a lot of changes over the decades, but there’s always been one thing you could count on: delicious bread and pastries fresh from the Jarosch ovens.

Ritu’s, Richard’s, and Kenneth’s stories are played out every day across America: a million variations on the same theme -- starting a business, running a business, keeping a business going.

In fact, America leads the world in small business creation, with over 28 million small businesses. They generate over 64% of all new private sector jobs. And, let’s not miss the obvious: every big business with thousands of employees started out as a small business. Bernie Marcus opened two hardware stores in Georgia and Phil Knight sold running shoes out of the back of his car in Oregon.

Thus were The Home Depot and Nike born.

Given the importance of small businesses to the American economy, you would think the government on all levels -- city, state and federal -- would do everything it could to encourage their formation and growth.

In other words, you’d think the government’s attitude would be, “How can we help you?”

But, sadly, this is not the case. In fact, it’s the opposite. The government is killing small businesses -- killing them with excessive taxes, over-regulation and complicated compliance.

One such burden is the current push to hike federal, state and city minimum wage rates from about $7.25 an hour to as much as $15.

Ritu Shah-Burnham found this out the hard way. So did her employees. When the city of Seattle raised their minimum wage to $15 an hour, all the profit went out of Ritu’s pizza parlor. She couldn’t raise prices high enough to cover her new costs. She lost her business and her employees lost their jobs. Instead of their wages going up to $15, they went down to zero.

Then there’s the Affordable Care Act, which requires businesses with at least 50 full-time employees to provide health insurance for all of them. The law’s definition of “full-time”? Just 30 hours a week. To survive all the added costs, many small companies have reduced their workers’ hours to below 30 per week. They’ve also become wary of expanding beyond 50 full time employees.

[kathrinesmith]

The federal reserve is killing the American dream.

[brighamarce]

As a small business owner I wholeheartedly agree with this! Sometimes I wish big government could just get out of my way so I could focus more of my time on my business and create more jobs for people.

[lilspazatron]

It's so true. I tried to start a business, if you could really call it that, where my mother and I would go to farmers markets and sell things we made. We couldn't even do that. The fees, certifications and licenses, lab analyses, and kitchen inspections made it impossible. All we wanted to do was sell at a damn farmers market!!!

[SanDanrdDan]

I'm a small business owner and I endorse this message.

[jaikwanzamckfc]

Anybody who says that regulation is good for the employees has clearly never tried to open their own business.

[candiigurl]

"What's Killing the American Dream?"






High Fructose Corn Syrup.

[Aichomancer]

I get paid 8 bucks an hour to haul ass and clean condos at a golf resort in Wisconsin's fox valley. My friend in Seattle gets paid 13 dollars an hour to sit on a lifeguard chair which he said the training for was a joke.
Now I'm fully aware that there could be a huge difference in the cost of living for us, but I think 13 dollars an hour for a high school student working part time is ridiculous.

[warrenrhinerson]

And people wonder why I think we should have a person with a business background in the White House

[Trevor_M_F]

I love how straight forward this video is with the facts. Well done.

[jaysonwithay]

The American dream isn't only about small businesses. It's also about getting a good job and starting a family etc. which is impossible on $7.25 an hour

[dumyjobby]

i totally agree with this video and my personal experience confirms it. i lived in italy a few years and after 2008 they started taxing exerything. for someone who want to open a busines it cost a massive amout of money just for the paper and then he will have to pay a lot of taxes. so the italian economy is stagnating in the last 8 years. i'm now in romania and here i opened 2 busibesses. the cost of opening a business ( for the paper) is very low ( just 300$) and the tax is feaely low. it's 16% of the incame and if you are young and have a new business it's just 3%. so guess what? in the last 5 years salaries went up a lot and may small businesses opened. if you want a succesful economy dont suffate it with heaxy taxes. it does more harm than good.

[maireadsystem]

Like they mentioned, my job cut my hours below 30 when the change came, forcing me to get a second part-time job to make ends meet. Instead of getting benefits, I have to worry about holding two jobs with very different skill sets in order to make the same money. How did they not see this coming?

[presidential]

They say: "The American dream is a dream because you have to be asleep to believe it"






I say: "The American dream is a dream to those who DON'T believe it."

[TheLawnWanderer]

Removing trans fats is a issue now?
Merrica

[YousTubo]

What is the point of working for your business if having a decent life is becoming almost impossible with minimum

[Flabernat]

Big Government ruins everything; less taxes, less regulation, and just less government in general, and let the "invisible hand" of capitalism do the rest!

[jaredwalker]

wait hold up, PragerU. I love your videos, but I think you guys have this one wrong about the woman in Seattle and her small business. I live in Seattle, and the $15 minimum wage isn't even in effect yet until next year. Moreover, small business are exempt from the $15 minimum wage increase. Only large corporations like Boeing and Microsoft etc must comply.

[yapandasoftware]

The "Government" never says "How can we help you?"... rather they say "How can we help ourselves to your profits?"

[papichulo]

“Why do they call it the "American dream"? Because you have to be asleep to believe it.”
-George Carlin

[theresasteward]

What is killing the American dream is Progressivism!