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Tom Stemberg, Staples founder and former CEO, on the regulations that are holding small businesses back from creating jobs and hiring.
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Simply is one of the alliance members Thomas Denver time is actually the founder and former CEO Staples office supply and Tom worked so grateful to have you with us this afternoon.
Well thanks for having me here.
So for quite a round out the small business owners have being telling us have been saying you know the expectation of higher taxes in this overall -- -- Of uncertainty out of Washington.
Has prevented them from hiring new workers prevented them from putting out -- capital expenditures.
Without -- actually that the feeling today of the panel give me to take where those concerns still resonating.
Those concerns are very much alive but it goes beyond that I'm not sure you're aware of this but -- -- the first three years the Obama administration.
There have been thirty times as many economically significant.
-- regulations put forth as opposed the first three years of the Bush Administration.
Small businesses are simply drowning -- being overwhelmed.
By it tidal wave of regulation.
And by the way -- significant means they cost the the American people more than 100 million dollars each.
There's been a thirty fold.
Increase and then and they've come from every department of government.
One of my -- so Mike -- holds hotels out in Iowa.
Tells the story about how they -- to have a thing a left so you're handicapped people could go it to this -- pools.
In the years he's all the hotels nobody has ever used one.
Now the government in the Department of Justice for about a new regulation.
Saying that knowledge yet to have them.
You have to have one for each body of water -- hot tub and a pool we have to have to you have to be electrical.
Yes -- has been there -- 200 -- -- gushing about this op Ed in The Washington Times earlier this week Tom that I thought was.
Quite striking you you mention the issue about sound.
The regulatory environment you mention the issue that the president's budget.
Which is that really what you were speaking out against the overall budget plan here for the new year also doesn't deal with the entitlements that are about to become.
Insolvent but what would you say with the president's plan he put out his corporate tax reform plan right.
What is the most egregious problem with it.
I don't think the plan makes any sense.
The plan first of all raises taxes on dividends and capital gains.
Which is the last thing we want to be doing today as we try to encourage investment.
Moreover wallet theoretically.
Move this to a territorial tax system.
He -- -- with one hand that took it away with punitive.
Penalties for people who create jobs abroad.
We need a very simple plan to lower the taxes to 25%.
As governor Romney and others have suggested.
At the same time.
To go to -- territorial taxes -- postal global tax system so American companies compete in world markets and not be disadvantaged.
And so -- you bring back the billions of dollars of cash that American companies are holding overseas.
Lest they get double taxed on it.
-- presidents corporate tax reform plan does specifically state that.
Force spot small business it done is work to streamlining make more simple the tax code to eliminate that issue but but from your discussion -- I thought I had -- -- gonna -- I don't agree with that because.
At the same time.
The relations says they're going to eliminate the taxation of sub S corporations and LLC's.
While most small and medium sized businesses have that structure so now they're gonna face double taxation so even theory.
It quoted simpler the route is going to be double taxation and again that's not what you want as you wanna -- what a great job with what I who wanted to.
What I thought was very interesting about the panel's findings that 90% of the participants said if any of the changes you're talking about -- Tom were made.
They would be willing to hire and even pay those workers more I mean that's saying something right there just and on that note.
It's actually true -- debt.
It's time we began looking at those small emerging businesses who are the future of America and employment picture.
They give them what they need which is less regulation and more help.
We'll see what happens -- Samberg thanks so much thank you.
