President Obama and Small Business
“Small businesses are the back bone of this country”. That is something you will likely hear from both candidates and all Congressmen as the November elections near. It is the unified justification for whatever legislation one is trying to get passed. The belief in Washington is that as long as what you are proposing is good for small business, or at least that what you opponent wants is bad for small business then you are doing it right. Why are small businesses so important, well for starters, they employ half of all private sector employees, pay nearly 50 percent of total U.S. private payroll, create more than half of the non-farm private GDP, and generated 65 percent of all net new jobs in the past 15 years just to name a few. Naturally this represents a large voter cohort and can’t be ignored. How is the President doing with this group? President Obama has been under some heat recently perhaps kick started by his misinterpreted comment “somebody else made that happen” speech. This alone is not enough to cause one to lose their faith in the President’s policy with respect to small business but now, as The Huffington Post reports, there are some other more serious issues. They continue, “Virtually every economist insists small businesses will lead us into a more robust recovery. Despite all of this, the president has done little to bolster small business since he took office. Here's what we know:
1) When federal funds get doled out, small businesses bring up the rear.
2) Regulations have a greater negative impact on small businesses, but that doesn't stop Obama from seeking more.
3) Obama believes tax increases on small businesses are necessary, perhaps even "fair."
4) Promotion of the SBA Administrator into his Cabinet came with strings attached.
5) Big Business and Big Unions got Obamacare waivers.
Click on the link below to see the explanations behind each.
Source - Huffington Post