Home Depot Co-Founder: Stop the Regulations
Exclusive: Bernie Marcus on job creation, 'Occupy' protests
- Duration 13:26
- Date Nov 4, 2011
Exclusive: Bernie Marcus on job creation, 'Occupy' protests
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Don't -- severed very much 80000.
That is how many jobs the American economy added last month it still is not about to get the jobless rate below.
9% which is exactly where it is then raise it up for the president to once again was his jobs.
If we want to grow the economy right now.
We have to think bigger.
We've got to do something -- and more significant.
Bigger bolder translation spend more home be vocal crowd.
Marcus says he's just spent joins me now in this exclusive chat you're saying repeating the same old thing is is not gonna get any -- -- -- -- The deal deal.
So what we have to stop politicking and start doing something about it I -- suggested for the president all the yes -- take a pen.
He's left the okay take a pen and signed one order.
And let the keystone XL pipeline go through he'll create a 120000.
No money on the part of the taxpayers.
It's private industry that'll do it.
Why in God's name was he not doing that do you have a solution for -- do you have a via an answer for that deal.
What about just doing something bigger.
He wants to do well follow up on the stimulus he's had and you've been -- known critic of it in the past.
But it there was something that could go beyond just let's say the oil industry.
Would -- be.
-- I don't know cut tax rates would it be to bring that foreign money home that a lot of companies have what -- today.
Neil if you don't want to say let's do the same thing you hear it over and over again the truth of the matter is that's exactly what you have to do.
You have to make the environment.
Available for business people to survive and to grow if you don't do it you're not gonna see -- thing.
When government spends money now we saw what happened with.
The over the energy companies that we invested in.
We didn't make any money on that we lost the time they don't want that if the government would stay -- -- the business man's way I think that we could see -- jobs grow in the United States.
Otherwise we're not gonna say it.
It's as simple as that I -- why can't the people in Washington understand now I understand president.
He's never been a job creator man -- have a job and his life.
But we have people in congress they ought to know better they've been -- for a number of years and they know what could create jobs.
They're just not willing to do it it's lower taxes its take their regulations off.
Stop killing the businessmen with the regulations.
Look we have.
We have today and then I'll -- NLRB that's running wild.
And -- -- -- be -- about the National Labor Relations Board go ahead.
Oh sure -- do you know that card check was knocked out by the congress Democrats and Republicans both bids supported didn't want it.
But the NLRB is doing it anyway.
And so and you have the EPA doing the same thing.
It's look while you're talking out of one side to your mouth.
You have to understand -- damaging the economy with the other side the amount you gotta put them all together and start doing the right thing for America and the right thing for America it's -- -- businesses create jobs and keep the government out of the job creates a business that's not their business.
So what do you say when Nancy Pelosi saying yesterday at a congresswoman on this very show yesterday -- who -- -- That if not more that stimulus.
Policy are you well but unemployment would be markedly higher at 15%.
Rather -- nine present -- looking.
-- -- Neil I don't know what they're drinking but you know what I think -- -- -- spread around America we all need to have some something good happen to us it's only happening in Washington is not happening anywhere else.
And and to hear Nancy Pelosi come out I don't know what -- she's getting these fables from -- she believes -- wrong garbage and I think that that's the problem.
There inside the beltway they're not outside the beltway they don't know what's happening in America and small businesses in America today which is the backbone.
-- of the economy if the small businesses are not surviving.
America's not gonna survive and small business today and I -- -- Neal did not hiring.
-- would have taken only when you got a Home Depot off the ground and you're in Abu rob Peter to pay Paul you scrape together -- and and it could.
To get that don't Ewing can -- and some of the bodies.
-- you did very weak if the economic environment.
And many of the great ones that -- those -- became billionaires very successful stores like yourself that Steve Jobs Bill Gates.
-- -- the respiratory died a couple of days ago they.
All you all started when times were tough very very tough.
So let's just say there aren't little mini Bernie Marcus is running around right now not listening to -- -- watched Washington -- against succeeding despite it.
That may be -- it has nothing to do.
-- the entrepreneurial spirit and it's -- really good at what you do you'll do well what whatever Watson's.
You know what -- let me tell -- America's a great place and I think the American people are wonderful and not to renew or you just can't hold onto the -- down.
But the truth is that.
It can happen is easily and not as easily -- took it took thirty years -- Home Depot to grow to a point where today Home Depot has 330000.
People working for it -- is -- jobs that that they've created in.
And out and all over but you have to remember back in 1978.
Up into the eighties until the middle of the ninety fives.
We didn't have the regulations that we have today we didn't have servants Oxley the way we have servants Oxley.
We didn't have a strongly PA the way we have a strong EPA today.
We didn't have the regulations coming out of Washington.
So you're saying you know could not have done.
But today what you did that.
No I don't believe -- I really don't I I have tried to put myself back in those days and I honestly god don't believe Neil.
That if we had if we started The Home Depot today with you -- -- the same.
Would no big stores the way our stores where we could not have gone -- ten or fifteen stores it's impossible.
You you if you just look at the litigation today that -- businesses go through.
-- not running a business you cannot believe the amount -- litigation on every single thing you're doing.
My board was made up of people who are involved in our business we had all investors in our business.
And I didn't have when we made it -- decision.
Author myself and -- we ever -- about lawyers we never have to do that.
Today I CEO cannot make a decision with -- groups of lawyers helping him make the decision out of.
Now -- get a deal to run this administration and others anomalies Occupy Wall Street folks who.
Who don't trust guys like satellite guys like him and they say this is Larry.
That's doing very well -- the -- than the average Joseph has gotten so bad.
That does something must be done on the government has got it is up to and they seem to have at least the sympathy if not the outright support.
Of the White House.
Well look -- the Occupy Wall Street group of kids.
You know they started out I think they have a better target I think they ought to go -- they have -- Barney Frank by himself just Barney Frank by himself.
Chris Dodd I mean the two of them I have done more than it did damage United States in their economy that the banks will ever do.
And I got into their bigger yeah I'm not I don't -- that -- -- One of them said boy somebody's getting out the way you know what I -- -- what -- told -- it's I just curse them out they still think that was -- it but.
-- what I asked is there anything.
To the perception.
That then becomes the relevant media covers them on nauseam that that.
It is business and and and businesses giving average folks that business wants more breaks once artifacts.
Write offs and it's not there or not.
Let's listen Leo first of all this group and Wall Street and the groups around the country the guys in Oakland never breaking windows and everything in there a small percentage from America.
American people how you think that most independent voters especially independent voters.
I'm looking in this is saying.
How sad look where we've gotten and and and look if you think that this is going to change the policies the United States -- 100%.
Totally wrong it's not gonna happen that's why we formed a job creators alliance -- we've talked about a -- you and I before.
The job creators alliance which is a group of business people.
Who are talking about the things that they need to have happen in the United States for business to grow and up to about small business people.
-- about people that don't have the lobbyists in Washington this is a guy who owns you know three restaurants or man and that has 4500 people working form.
These people aren't don't have anybody represented -- they get bounced around the elected -- like a rowboat in the ocean just bouncing around they don't know where to -- The one thing that they know is certain and and you know a lot of people talk about the uncertainty that people are not -- because of certainty.
The truth is it's certainty they know their taxes are gonna go up.
They know with obamacare coming down -- to be faced with a tremendous decision on what to do with the health insurance for their employees.
They understand that the EPA is gonna create problems so it's this certainty that it's keeping people from invest these.
And what do you think it what I thought that problem in Brooklyn federal Warren Buffett says the rich -- Kmart I think you should pay more reason.
Well I think Warren Buffett should be given away a lot of money earlier than he did now I mean he could have been due -- for the last 1520 years.
Which is what I advise -- to do about fifteen years ago.
And I said warn you could.
By yourself you could honestly.
Cure some form -- cancer.
Because Warren Buffett is so -- held in high esteem by so many people that if he invested a billion dollars either race fifty million dollars the same day.
He's a line would tie president museums and a lot of the president you have any.
Political horses in the -- you're looking -- or liking.
Yeah I think that they all have a point I think the one thing that's coming out of this is really good.
And then in -- to about the debates because -- will which you know when you get away from the bickering that's going on among the candidates.
I think the one thing that's coming out is that.
Whoever gets in office if it's -- every Republican they know they have to do something dramatic.
They understand that they can't keep it the way it is I think the tax code needs a complete overhaul and if you took all of those plans that they have together.
And you came up with one plan.
I think a flat taxes it's time to by the way I was an opponent a flat tax you know five years ago seven years ago when -- first came on the scene I'm beginning to like -- more room.
And make it I'll make it clear that Herman -- Blanton hit one of the lawyers of one of his accusers on this -- thing -- being that the media right now we're not gonna take we are just letting people know.
That he's sort of taking questions -- the media but.
Leaving aside these charges when lawyers are doing.
And -- you make it his 999 plan.
A lot of people.
-- and on that.
No I don't like this 999 plan and I will tell you the truth because I think that if he had a 9% tax on on goods that you body.
Every state has -- -- on on on on merchandise also and all of a sudden -- Europe and around 121415%.
And a poor people I mean a lower little lower income people not going to be able to afford that it's not fair to them so I don't like that plan I think that.
Other parts of the plan makes sense to me lower corporate taxes I think we have to bring some of the money back from overseas I think that's important.
So it tackles for glory -- a lot of blue dog Democrats a talking about a tax holiday for that money are you for that.
Yeah I am I am I think if you bring that money back it's gonna only help create jobs summit Rodney what do you mean what if Mitt Romney burning.
Well a -- -- on the I think -- to get a little stronger and what he's talking about I think he's playing the safe road.
By the way I must tell you I -- and I said this have been around them of the state -- you right now.
It Mitt Romney have -- the won the election last time and the he really was the most competent to do it to get the nomination for the Republican Party I don't think we'd be in this kind of trouble today.
I think that we're in this trouble today because we have a group of economists.
That are all.
Economist at a universities.
Who really don't have a clue not a single clue.
On how to create jobs in America solve this problem.
And the president has surrounded himself of these kind of people.
The people like me I mean somebody like me why would he listen to me I've only created several million jobs in my lifetime and -- rapidly got to talk to them.
I -- why listen to me a guy like me I don't have a I don't have a Ph.D.
behind my name okay throughout have a retailing experience that said.
So I look look.
Which I really could have done something with your life and -- it's entity -- -- -- day I couldn't -- -- I could have been so happy no question about it.
-- a pleasure and an honor as always.
One of the legends.
An American corporate history created so many jobs.
Home Depot and some -- a good plan updated where -- -- so much more on thank you could see cancer.
Thank you all right -- as a.