Small business, big problems

The engine of America is stalling -- and so is this administration

  • Follow Editorials

The key to getting this economy going again is to get jobs going – and that’s the job mostly of small businesses.

Small businesses, those employing fewer than 500 workers, represent 99 percent of all firms and employ about half of all private-sector employees. They’re responsible for some 65 percent of job growth in the past decade-plus.

To hear President Obama tell it, he’s Mr. Small Business – having cut small business taxes 18 times.

Investor’s Business Daily begs to differ.

“They are either too narrowly targeted or too complicated, require businesses to jump through hoops to qualify, or are too temporary to have any long-term incentive effect,” IBD writes of Mr. Obama’s minimal tax cuts.

“They are, in short, designed more to give Obama something to brag about than actually to help small-business owners.

“All of which might help explain why Obama’s policies have left small companies increasingly pessimistic.”

Indeed, the National Federation of Independent Business “small business optimism index” plunged in June, and as IBD notes, “just 3 percent say they plan to add employees over the next three months.”

The economy is an absolute mess, as the Orlando Sentinel noted in its editorial endorsing Mitt Romney – four years after having endorsed Barack Obama.

“Economic growth, three years into the recovery, is anemic,” the newspaper writes. “Family incomes are down, poverty is up. ...

“We have little confidence that Obama would be more successful managing the economy and the budget in the next four years.”

Nor is there anything in Mr. Obama’s approach to business that suggests cause for optimism. Critics rightly point to his unguarded remark that “If you’ve got a business, you didn’t build that. Somebody else made that happen.”

What an insult to every business owner and entrepreneur who ever got up early or stayed up late working his or her tail off building a business.

They deserve better from their government.

South Carolina Sen. Jim DeMint has been meeting directly with owners on his “Saving Small Business Tour” – and told us last week there is great pessimism about the land.

Tax uncertainty and the health care law are preventing many from hiring, and even those trying to hire are finding that potential workers can make nearly as much money from staying at home with government benefits.

DeMint also said business owners are being crushed by government regulations and uncertainty over rule-changing. They’ve gotten to the point where they think the government is their biggest enemy.

Writes IBD: “Obama may think he can fool the public into believing his tax policies are helping small companies survive and thrive. Small-business owners know better.”

Let’s hope the rest of the electorate does too – if they want the economy to improve.

Comments (14) Add comment
ADVISORY: Users are solely responsible for opinions they post here and for following agreed-upon rules of civility. Posts and comments do not reflect the views of this site. Posts and comments are automatically checked for inappropriate language, but readers might find some comments offensive or inaccurate. If you believe a comment violates our rules, click the "Flag as offensive" link below the comment.
wayne2410
1239
Points
wayne2410 10/24/12 - 05:03 am
7
3
Don't think the liberals will
Unpublished

Don't think the liberals will buy this ACES, small business owners tend to be hard workers, honest people, and independent minded, things liberals hate with a passion. Their heros are those who are lazy, dishonest, and are totally dependent to the govt to provide them everything and to tell them what to do. Freedom and independence scares them to death, due to cowardness I guess.

Techfan
6462
Points
Techfan 10/24/12 - 05:07 am
3
9
Another less than fact filled editorial

As usual, the AC fails to give the whole story. The Orlando Sentinel is owned by the Tribune Company which, LIKE MANY COMPANIES THAT OPERATE NEWSPAPERS HAD TO GO INTO BANKRUPTCY, and was driven into the bankruptcy by a private investment equity firm (hey, just like Bain Capital) who managed to rip off employees pension funds in the process. Thank you Sam Zell, yet another billionaire donor to the GOP. Great guy this Zell. Nothing like jacking up rents for senior citizens who rent spaces for their mobile homes in Florida, North Carolina, and other places. He's shelling out millions to the GOP. No wonder the Sentinel supports Romney this time. It's owned by a guy who's just like Romney on steroids.

InChristLove
22485
Points
InChristLove 10/24/12 - 05:28 am
7
4
Techfan, let us not get

Techfan, let us not get side-tracked. This article isn't about the Orlando Sentinel or who owns/owned it. The article is about the inability of this President to get the economy going again. How his policies are actually hurting this economy and small businesses.

"Indeed, the National Federation of Independent Business “small business optimism index” plunged in June, and as IBD notes, “just 3 percent say they plan to add employees over the next three months.”

The economy is an absolute mess, as the Orlando Sentinel noted in its editorial endorsing Mitt Romney – four years after having endorsed Barack Obama.

“Economic growth, three years into the recovery, is anemic,” the newspaper writes. “Family incomes are down, poverty is up. ...

“We have little confidence that Obama would be more successful managing the economy and the budget in the next four years.”

Techfan
6462
Points
Techfan 10/24/12 - 06:18 am
3
5
One of the GOP's biggest donors owns the Sentinel

If you read the post, you would see that The Sentinel was owned by a different group 4 years ago. Gee, just because the newspaper is now owned by one of the GOP's biggest donors (who drove it into bankruptcy), there's no way it would be biased is there? Evidently people have no memory of where the economy was going 4 years ago. It was headed straight down hill.
Dow on 1/20/2009- 7949
Dow on 10/23/2012- 13,102 (after going down recently)

Job losses Jan 2008-Jan2009- 4,662,000
Job growth per month 2012- 146,000

There's still a ways to go, especially with the GOP trying everything they can to tank the economy to make Obama look bad, but we stopped the bleeding, and the US is coming back to life. With Romney's experience of solely looking after profits with no concern for the toll it takes and people, coupled with his lack of knowledge in foreign affairs, and the side fact that he's taken both sides of pretty much every issue in the camapign (so I wouldn't trust him as far as I could throw him), I'll stick with Obama.

ultrarnr
944
Points
ultrarnr 10/24/12 - 06:28 am
3
6
Economy
Unpublished

If the economy is such a mess under Obama why are corporate profits at record highs, why is the S&P up 80% since Obama took office? Unemployment has dropped to 7.8%. Sure sounds like the economy is recovering to me.

rmwhitley
5547
Points
rmwhitley 10/24/12 - 07:42 am
0
0
I'm
Unpublished

certainly excited that only 7.8% ( 15,600,000) people are "reported" to be unemployed, as I'm sure they ( the unemployed) are.

InChristLove
22485
Points
InChristLove 10/24/12 - 08:16 am
6
3
ultrarnr, unemployment is

ultrarnr, unemployment is actually higher but when you finagle numbers, you can make them say anything.

InChristLove
22485
Points
InChristLove 10/24/12 - 08:26 am
5
3
How Government manipulates Unemployement

"The true unemployment picture is hidden by essentially splitting jobless Americans up and putting them inside one of three different "boxes": the official unemployment box, the full unemployment box, and the most obscure box, the workforce participation rate box. As we will explore herein, a detailed look at the government's own data base shows that about 9 million people without jobs have been removed from the labor force simply by the government defining them as not being in the labor force anymore. Indeed - effectively all of the decreases in unemployment rate percentages since 2009 have come not from new jobs, but through reducing the workforce participation rate so that millions of jobless people are removed from the labor force by definition. When we pierce through this statistical smoke and mirrors and factor back in those 9 million jobless whom the government has defined out of existence, then the true unemployment rate is 19.9% and rising, and not 8.3% and falling."

http://danielamerman.com/articles/2012/WorkC.html

Don't like this article, there are plenty more.....

Humble Angela
41338
Points
Humble Angela 10/24/12 - 08:30 am
6
3
Too many people (liberals
Unpublished

Too many people (liberals especially) can never seem to address the issue, rather they attack the source.

Humble Angela
41338
Points
Humble Angela 10/24/12 - 08:34 am
6
3
ultrarnr....I'll ask
Unpublished

ultrarnr....I'll ask again...why is unemployment so high? Why is gasoline so high? Why is food so high? Why are worker wages dropping? If you give Obama credit for the things you list, you have to give him blame for this as well....you can't have it both ways. Besides....your question about the stock market was answered quite well yesterday.

And what is unemployment rate when you actually include all the states instead of conveniently leaving out CA?

dichotomy
37448
Points
dichotomy 10/24/12 - 09:15 am
8
3
Techfan.....at least the mean

Techfan.....at least the mean nasty Republicans bought the newspaper with THEIR money instead of Obama giving OUR money to Solyndra and numerous others to go bankrupt with. Nice try at your usual tactic of diverting the discussion though. Obviously an Alan Combes understudy. You have mastered the "well what about when somebody we are not talking about did this" tactic. If guilt by association is your point then Obama must be a racist, communist, and terrorist based on his group of favorite people.

And the REAL unemployment rate is over 14%, record profits are because corporations have laid off so many workers, and economic growth is and anemic 1% when, even after the Great Depression, economic growth was 3% to 4% by this time.

The national debt is $16.2 TRILLION dollars and growing at a rate of $4 BILLION dollars a DAY. HOUSEHOLD INCOME is DOWN by over $4,000 a year. There are over 47 MILLION people on food stamps. Private health insurance is UP $2500 a year because of Obamacare and is projected to go UP ANOTHER $2500 a year by 2014 due to Obamacare.

Obama has propped up the economy with government spending and borrowing the money from China. But that well has run dry and things are getting shakey. This week the stock market has tumbled based on projected earnings forecasts for the coming year.

And Obama does not have any plan except to keep doing the same things he has done for the last 4 years. Which basically amount to holler "tax the rich" and deny us access to our domestic energy resources and the Canandian pipeline while the throws our money at bankrupt solar panel and battery companies. That's no plan. Obama and all of the Democrats know that if you taxed the rich at a 100% rate it would not even make a dent in our spending. The tax rate Obama wants to put on people making over $250,000 a year would pay for our current spending for six (6) days and would kill tens of thousands of jobs. It is a futile exercise in class warfare that would accomplish nothing but BAD. But that is the idiocy of having a socialist ideologue for a president.

Gary Ross
3347
Points
Gary Ross 10/24/12 - 11:16 am
3
2
2 WEEKS

We will find out in 2 weeks whether America will survive or not. It's a crying shame that things have gotten this far. Also in 2 weeks I'll find out whether I'll be able to retire in 7 years, or will have to work till the day I die.

KSL
143811
Points
KSL 10/24/12 - 11:22 am
3
2
New EPA regulations put off

New EPA regulations put off until after the election are expected to kill over 7 million jobs.

Gaffe
170
Points
Gaffe 10/24/12 - 12:22 pm
2
5
The first term of Ronald
Unpublished

The first term of Ronald Reagan's Presidency was maligned about the same as Obama's is being now. His economic policies "Voodoo Economics" were criticized, and unemployment shot up. Many people said what he was doing wasn't working.

By the end of his second term, he was hailed as "saving America".

Every expert agrees this economic recovery will take 10-20 years. One president will not achieve a recovery in 1 or even 2 terms. Obama has brought down unemployment 3%, brought the markets back up, and did not allow a depression to occur. If not for a Republican Congress working against the best interests of our country, the recovery would have been even better. Mitt Romney wants to institute the same policies that resulted in this economic melt down and soaring deficit. Really Romney Supporters? You want to return to the same things that caused this mess before we've even recovered? He's doubling down on Bush's completely failed policies.

I am not sure that the solutions to the "problems" our country faces can best be solved by Billionaires in office. And for the life of me, I don't understand people who think a Billionaire has their best interests at heart, unless they are also Billionaires as well.

KSL
143811
Points
KSL 10/24/12 - 12:54 pm
3
2
What on earth makes you think

What on earth makes you think Obama has our best interests at heart?

Humble Angela
41338
Points
Humble Angela 10/24/12 - 12:54 pm
3
2
"Obama has brought down
Unpublished

"Obama has brought down unemployment 3%" Oh really? Unemployment when he took office was 7.8%....so you are saying that the current unemployment rate is 4.8?%? How's that for making up your own facts?

"And for the life of me, I don't understand people who think a Billionaire has their best interests at heart, unless they are also Billionaires as well."

Why wouldn't they? Would a mere millionaire be better (Obama)? How about a dirt poor guy who is good at heart, but has no idea how to be successful. Is that what you would rather have?

No as for the statement "Mitt Romney wants to institute the same policies that resulted in this economic melt down and soaring deficit." Please give us specifics....what policies resulted in economic meltdown and why.

Humble Angela
41338
Points
Humble Angela 10/24/12 - 01:03 pm
2
2
Maybe Obama should have drove
Unpublished

Maybe Obama should have drove unemployment up to 15% so he could claim to have brought it down 8%. sheesh...the way some people try to spin things.

Little Lamb
49036
Points
Little Lamb 10/24/12 - 01:27 pm
3
2
Seriously?

ultrarnr posted:

Why is the S&P up 80% since Obama took office?

Seriously, is anyone actually trying to make the claim that the President (whoever he (or she) is) actually controls the stock market? That is a hoot. The S&P 500 is higher today than when Obama took office because the index lost serious ground in 2008 and 2009. It is higher today because corporations took actions to stop their bleeding (laying off workers), cutting their inventories, hunkering down, and adjusting to the realities of doing business under an anti-business president.

Humble Angela
41338
Points
Humble Angela 10/24/12 - 01:43 pm
3
2
LL...I can't believe someone
Unpublished

LL...I can't believe someone is claiming that this president has brought unemployment down........that's some high speed spin!

wayne2410
1239
Points
wayne2410 10/24/12 - 02:40 pm
1
2
Yes really, Obama supporter.
Unpublished

Yes really, Obama supporter. When those new regs someone already mentioned hit and the true cost of Obamacare, purposely back loaded until after the election by the way, comes due, the economy of this country is going to crash big time. Do some research, find some truth, it is out there and is much more stark and real than that partisan blindness you are holding on to. Our economy right now is very much like a pyrimid scheme and yes, Obama did build that.

Little Lamb
49036
Points
Little Lamb 10/24/12 - 02:53 pm
1
2
Right On

You are correct, Angie. This administration has monkeyed so much with the unemployment formulae that you cannot compare the percentage today with any past measurements. New definitions, new categories, new formulae. You just have to look at the country to see the truth. Unemployment is unacceptably high. Underemployment is rampant. Many people who would like full-time employment are in training programs under some federal grant and don't count against the unemployment rate.

The programs are unsustainable in the long run, but, of course, Obama is a "short run" guy. Let's get reliable acquaintances to vote and make sure he is a "short termer" as well.

harley_52
25873
Points
harley_52 10/24/12 - 05:37 pm
1
1
"The programs are unsustainable in the long run...

....but, of course, Obama is a "short run" guy."

I think he's a long term guy. I think he'll say anything in the short term to allow him the opportunity to get another 4 years during which he will finish what he started. His long term goal is to destroy our political system and our economy. He wants ultra-lefties on the Supreme Court to subvert the Constitution and he wants control of the Executive and Legislative branches to implement his agenda. If he can't get control of the Legislative branch, he'll use the Judiciary to validate his Executive Orders which will be used as "law" with the Court's compliance.

If he wins this election we're toast.

Gage Creed
19399
Points
Gage Creed 10/24/12 - 08:14 pm
2
0
ultrarnr....the answer to the

ultrarnr....the answer to the same questions you posed yesterday is the same answer today....It's Bush's Fault

Back to Top

Top headlines

Daniel Field removes trees, lights structures in airspace

Daniel Field, managed by operations company Augusta Aviation, has spent more than $30,000 conducting land surveys, removing 30 trees and installing red blinking lights on top of the Newman Tennis ...
Search Augusta jobs