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During yesterday’s roundtable on ABC’s This Week, Donna Brazile tried spinning her way through a question about what President Obama has done for small business owners. Here’s what she said:

What we can do is talk about what the President is doing to help small businesses compete, what the President is doing to help small businesses grow and hire people. That’s what we’re talking about. We’re not anti-small business. We’re trying to help small businesses compete.

Let’s have that discussion. When a small business files their taxes as an individual, the business’s earnings are counted as the individual’s income. President Obama wants these S-corps and LLCs to pay a marginal tax rate of almost 40%.

This money typically isn’t taken in salary by “the rich.” It’s frequently invested in their businesses. How will increasing their taxes at this time help small businesses or their employees? It won’t.

How has this administration’s EPA helped small businesses? It hasn’t. This administration’s EPA isn’t greenlighting the permits needed for switching vehicles from diesel fuel to liquified natural gas. That step alone would cut delivery expenses dramatically.

When President Obama delayed a decision on the Keystone XL Pipeline project, he stopped small businesses from playing an important support role in building the pipeline.

These small businesses have been hurt by some of President Obama’s lesser known initiatives. That’s before talking about the 8,000 elephant in the room, aka the ACA.

That’s before talking about this administration’s disastrous energy policy, if it can be seriously considered policy. President Obama put a higher priority on campaign contributions than on strengthening America’s energy supply for a generation. The deal that the Chinese are on the verge of signing won’t stop global warming like militant environmentalists want. The Chinese deal will officially stop the Keystone XL pipeline, killing thousands of jobs.

If that’s this administration’s idea of helping small businesses, then I’m betting small businesses wish government got out of the business of helping small businesses.

This administration’s economic legacy is a disaster. Job growth is anemic. Economic growth dropped from 4.1% in Q4/2011 to a tiny 1.5% in Q2/2012. FYI- That 4.1% growth was the best of this administration. The Reagan recovery started in earnest in Q2/1983. The GDP that quarter was 10.9%. That quarter was followed by quarters of 6.5%, 7%, 7.4% and 5%.

In President Reagan’s third September in office, the economy created 1,100,000 jobs. After a strong start this year, it’s questionable whether the economy under this administration will create 1,100,000 jobs this year.

Finally, we know from corporations parking their money on the sidelines that their money will stay on the sidelines until regulations are reformed, the ACA is repealed and Dodd-Frank is just an awful memory. That means this is the best economic performance we can expect in an Obama administration.

That’s why we can’t afford 4 more years of this economic stagnation.

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8 Responses to “What has President Obama done for businesses?”

  • Terry Stone says:

    When private sector capital returns to the market, the government beast will be hungry. There is a need to hijack the private sector for money to pay off the oppressive debt Obama accumulated during his short period of unabated feeding at the public trough. Four more years of Obama would be more lost years of American prosperity, growth and world leadership.

  • Crimson Tide says:

    This sounds eerily similar to Gov. Mark Dayton. What has he done for Minnesota business? Attempted to increase taxes and regulations and then demonizes them for leaving Minnesota.

  • eric z says:

    Obama did not start two wars on Uncle Sam’s credit card. He inherited such stupidity. With it, he has a House majority that will not let him tax the rich fairly. Guys, if the rich do not pay a fair share, who has to cover? You. Is your tax rate 14%, like Mr. Romney’s? No? Why do you figure that is? Do you have a neighbor whose job’s been shipped overseas? Just wondering.

  • Gary Gross says:

    Eric, Here’s a clue. The 2 wars didn’t cause gas prices to spike. They didn’t cause unemployment & deficits to skyrocket either. Those wars didn’t lead to the EPA shutting down power plants in Ohio, Pennsylvania, Virginia & Indiana with expensive regulations that aren’t necessary.

    As for the Democrats’ fair share BS, let’s get something straight. We The People OWN the government. We The People created the government. It’s time that government got its oppressive foot off our throats so we can return to having a real economy again.

    You didn’t hear President Clinton whine about “the rich” paying their fair share. You didn’t hear President Reagan whining about it, either. They just made the economy soar.

    The most successful job-creating presidents didn’t whine about “the rich” paying their fair share. The worst jobs president in history whines about it all the time.

    There’s a lesson in there if you’re willing to open your eyes & learn it. I’m not holding my breath on that.

  • Ladylogician says:

    Shorter Eric Z.

    Gary stating facts. Eric Z -and squirrel!

    Gary states more facts. Eric – look shiny!

    Facts are, Eric, President Obama had the House AND A FILIBUSTER PROOF Senate and STILL couldn’t get it done. Stop blaming others for HIS failures.

    LL

  • Jethro says:

    Eric Z. – I would love it if you, Gov. Dayton, or any DFLer for that matter quantified “the rich should pay their fair shaire” in terms of an actual number. Perhaps lower income earners who pay nothing in taxes “should pay their fair share” which is some quantifiable number greater than zero. You never hear the media or the DFL talk about this publicly.

  • Cornelius says:

    Ladylogician – Obama only had a filibuster proof senate for about 2 months (technically 2 weeks because Ted Kennedy did not appear to that many senate meetings due to his illness and than dying). Speaking of filibustering the republican senate obliterated the record for most filibusters in U.S. history. Hey that is how the system works you have to pass stuff through congress. But when House Speak Boehner and other republican leaders say our number one priority is to make “the president a one term president” instead of helping the american people get through a recession is baffling.

    Gary, those wars cost us a near trillion in our deficit. The Bush tax cuts cost us nearly 2 trillion. We still have not even fully recovered from the housing crisis. Does Obama have some blame most definitely. He is spending too much. But to forget about the previous presidents goof and pretend his policies had no effect on the current president is extremely disingenuous.

  • Gary Gross says:

    Cornelius, I was thinking of deleting your comment but thought it was better to highlight the fact that you’re nothing but a windbag. First, the Ted Kennedy argument is laughable. The House Democrats didn’t pass the bills so that the Senate could act on them. Second, Senate Minority Leader Mitch McConnell said that he wanted to make President Obama a 1-term president. How’s that different than Senate Majority Leader Reid accusing GOP presidential nominee Mitt Romney of committing tax fraud from the Senate floor? My mistake. Reid accused Mitt of that without a hint of proof.

    Third, the total deficit for the entire Bush term was less than Obama’s first term deficits. The biggest deficits during the Bush administration came with a Democratic House & Senate. Those 2 deficits, coupled with the deficit caused by the Clinton dot.com recession, only slightly exceed President Obama’s biggest deficit. The smallest deficit happened in 2006 when it dropped to $161,000,000,000.

    President Obama’s policies have crippled our economy. That’s right. President Obama’s policies are the culprit. President Bush didn’t have a thing to do with President Obama’s EPA issuing new regulations that crippled the coal industry & hurt the natural gas industry. President Bush didn’t have anything to do with this administration’s decision to pass the job-killing ACA. Those are the reasons why Obamanomics isn’t working.

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