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Romney Campaign Press Release - Obama's Redistribution Didn't Work For Small Businesses

September 19, 2012

"President Obama may think government should 'facilitate some redistribution' — but the results of his policies speak for themselves. Small businesses lack the confidence they need to expand and hire new workers, and the President's looming tax hikes are threatening to destroy another 700,000 jobs. Mitt Romney understands that opportunity and free enterprise create jobs and grow our nation's small businesses — not government redistribution." — Andrea Saul, Romney Campaign Spokesperson

In 1998, Barack Obama Claimed Government Should "Facilitate Some Redistribution" Because He Believed "In Redistribution":

Barack Obama: "I Think The Trick Is Figuring Out How Do We Structure Government Systems That Pool Resources And Hence Facilitate Some Redistribution Because I Actually Believe In Redistribution..." OBAMA: "What that means then is that as we try to resuscitate this notion that we're all in this thing together, leave nobody behind, we do have to be innovative and thinking what are the delivery systems that are actually effective and meet people where they live. And my suggestion, I guess would be that the trick, and this is one of the few areas where I think there are technical issues that have to be dealt with as opposed to just political issues. I think the trick is figuring out how do we structure government systems that pool resources and hence facilitate some redistribution because I actually believe in redistribution, at least at a certain level to make sure everybody's got a shot." (Barack Obama, Remarks, Chicago, IL, 10/19/98)

How Has President Obama's Redistribution Plan Worked For Small Businesses? It's Impeded Hiring And Slowed Growth:

Nearly Three-Quarters Of Small-Business Owners Blame Obamacare For Hurting Job Creation. "As part of the explanation for the general economic pessimism, 78 percent of small businesses believe that taxation, regulation and legislation from Washington make it harder for businesses to hire more employees — and 74 percent blame the recent health care reforms passed by the Obama administration for creating an impediment to job creation." (Tim Mak, "Chamber Poll: Small Biz Blames D.C.," Politico, 1/18/12)

  • CNBC Headline: "Small Business On Obamacare: No Reason To Hire Or Invest" (Patricia Orsini, "Small Business On Obamacare: No Reason To Hire Or Invest," CNBC, 6/28/12)

According To The Small Business And Entrepreneurship Council, "Business Owners Remain On Edge Regarding The Tidal Wave Of Federal Government Regulation." "'Business owners remain on edge regarding the tidal wave of federal government regulation that has been advanced or proposed over the past two years. ... The pain of the harsh recession was intensified and lengthened by this hyper-regulatory environment,' Karen Kerrigan, president of the Small Business and Entrepreneurship Council, wrote in a Jan. 12 letter to Issa."  (Philip Rucker and David S. Hilzenrath, "GOP Eyes Rules That Firms Say Hurt Jobs," The Washington Post, 2/7/11)

According To A Recent NFIB Survey, Few Business Owners Think The Current Period "Is A Good Time To Expand" And A "New Record High" Think It Is A Bad Time To Expand. "However, few think the current period is a good time to expand at 4 percent. The percent of owners viewing the current period as a BAD time to expand due to political uncertainty reached a new record high for this business cycle at 22 percent."  (William C. Dunkelberg and Holly Wade, "NFIB Small Business Economic Trends," NFIB, 9/11/12)

Bureau Of Labor Statistics: "New Establishments Are Not Being Formed At The Same Levels Seen Before The Economic Downturn Began..." "New establishments are not being formed at the same levels seen before the economic downturn began, and the number is much lower than it was during the 2001 recession." (Bureau Of Labor Statistics Website, Accessed 9/18/12)

According To A Recent Study From The Hudson Institute, "The Startup Jobs Rate Has Collapsed In Recent Years." "But the startup jobs rate has collapsed in recent years. In fact, the rate of startup jobs during 2010 and 2011, years that were technically in full recovery, are the lowest on record. The second figure shows how the rate declined during the recession years 2008-2009, but also shows that it continued to decline afterwards." (Tim Kane, "The Collapse Of Startups In Job Creation," Hudson Institute, 9/2012)

And President Obama's Second-Term Agenda Won't Make Life Any Easier For Small Businesses — Hiking Taxes And Destroying Jobs:

President Obama's Tax Hikes Would Subject 2.1 Million Business Owners To Higher Taxes And Would Jeopardize 710,000 Jobs. "Researchers determined the plan would actually subject 2.1 million business owners to higher rates; specifically, those who pay pass-through taxes, like most partnerships, LLCs and S-Corporations. The result, less capital in the hands of business owners and diminished labor supply, would cost the United States an estimated $200 billion in economic output and 710,000 jobs." (J.D. Harrison, "Obama Plan To Lift Top Tax Rates Would Plague Millions Of Small Businesses, Study Warns," The Washington Post, 7/17/12)

President Obama's Tax Plan "Would Hurt Small-Business Job Creators In Particular." "New research, released today by the National Federation of Independent Business, shows that allowing tax relief on the top individual rates to expire will hurt job creation and the economy. The report, published by top accounting firm Ernst & Young, shows raising top individual rates would hurt small-business job creators in particular." (NFIB, Press Release, 7/17/12)

President Obama's Tax Plan Will Increase Taxes On Small Businesses To As High As 41%. "But Mr. Obama is demanding tax increases, not tax cuts, and large increases at that. If the Bush tax rates expire as scheduled on December 31, rates on the top two income brackets will jump to 39.6% from 35%, and 36% from 33%. Add the scheduled return of income phaseouts for exemptions and deductions, and the rates go up another two-percentage points—to at least 41% and 35%." (Editorial, "Off The Tax Cliff He Goes," The Wall Street Journal, 7/9/12)

Mitt Romney, Romney Campaign Press Release - Obama's Redistribution Didn't Work For Small Businesses Online by Gerhard Peters and John T. Woolley, The American Presidency Project

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