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Washington Examiner: 'Secretary of Business' is last thing nation needs

Published: November 5, 2012

According to the Kauffman Foundation, nearly all net job creation in the United States between 1980 and 2005 occurred in firms less than five years old. These firms are the very ones suffering the most under Obama's existing “pro-business” policies.

Take Obamacare, which Obama never ceases to mention includes special tax breaks for small businesses. Only 170,000 businesses out of 4 million potentially eligible companies have taken the time to apply for these tax breaks. For the most part, all Obamacare has done for small businesses is raise their labor costs.

Worse, Obamacare essentially turns our heavily concentrated health insurance market into a highly regulated public utility. Bureaucrats will determine what insurers can charge, what share of their expenses can go for this or that, and how much profit they can make. This is not a recipe for experimentation and innovation in the health care sector. It's a death sentence of stagnation that will lock Americans into rising health care costs indefinitely.

The last thing new businesses need is another layer of bureaucrats and regulatory costs from Washington. What they do need is a simplified tax code with more competitive rates, fewer but smarter regulations, and a federal government that isn't drowning in debt. Unfortunately none of these things is on Obama's second-term agenda.

— The Washington Examiner


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