"In centralized planning, like the Soviet Union and actually with China today, [governments] do create jobs. The party runs the country," said McNabb, a member of the Trump Leadership Council, an independent group of business leaders designed to advise the GOP nominee on policy issues.
"But in this country ... governments don't create jobs," said McNabb, a board member of oil giant Continental Resources. "A government can create more bureaucracy. And that's the only way they create jobs." McNabb just retired as chairman and CEO Willbros Group, a specialty energy infrastructure contractor.
Small businesses drive job growth in the U.S., but the regulatory burden imposed on companies by Presidential Barack Obama have hurt the economy, McNabb said on "Squawk Box." Trump is "waking up America," he argued.
Last week on the program, Trump told CNBC regulations are "making it virtually impossible to start new businesses, and a lot of old businesses are being hurt very badly." Trump singled out Obamacare as "devastating businesses."