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We're going straight to -- song right now the CEO of new -- joining us on Skype from Connecticut hey Barry how are you.
Good -- early today fed what is -- jacks -- don't know us.
Well -- your provider business and financial services -- -- -- that -- business accounts all across the United States so.
Our company focuses on independent small business owners -- lend us money and provides technological services and period processing services and a multitude of other services.
Okay and how do small businesses reacts to both presidential candidates the current president Barack Obama and Mitt Romney the Republican and a nominee.
There are reacting differently in the Obama's speech last night it was very much a -- saying he's gonna do the same thing in his second term.
When and if he's elected he did his first term.
OK and I think I think that's really problematic particularly given the job court today and that business is really looking for a sense of optimism.
And -- promised in his first term.
Did you know -- really want want something better Centre right arm.
Romney on the other hand really cannot five step plan.
Obvious really affects small businesses performed -- -- it was very original focus on energy you know people they don't oil and gas in those.
Particular industries being -- our.
Yeah small this -- this is -- those industries.
And he -- twelve million new jobs and a lot of that come from.
Here's a -- of my the United States energy industry and so many things -- talked about was tax code.
Reducing the corporate tax free.
I don't -- 25%.
Most small businesses are individual filers however there are some corporate farmers and now that -- -- matter Arab company.
Which -- politics economy -- still consider some small signs would benefit from -- reduce corporate tax rate.
And he's also saying he's gonna reduce the individual country and every -- from top -- and 20% now very very beneficial for small stores all across the United States.
That actually sounds like a plan we have some specifics -- head -- want to listen to sound late.
That we have from Romney a little bit earlier -- -- -- Republican National Convention when he talked about repealing obamacare and then we can get into small businesses in your thoughts on obamacare.
OK let's you know take us -- We will champion small businesses America's engine of job growth that means reducing taxes on business not raising them.
It means simplifying and modernizing the regulations that are hurt small business the most.
And it means that we must rein in the skyrocketing cost of health care.
By repealing and replacing obamacare.
So what do you what do you make of that Obama care and how it hurts small businesses if it's not -- Could you you monarchy Romney saying yes I've been specific implants are just not losing -- he's saying hey.
Relative to him saying he wants to repeal and replace obamacare obviously definitely legislation they may not controlled house and senate forty can't do.
I basically -- a waiver to every seat in the United States that they don't happen to our.
Obviously pay attention to Obama here that had an effect in effect but actually neutralizing.
Dodd-Frank which was an area big problem for the banking industry right and basically created local origination.
Over regulation bad because of Dodd-Frank we've -- -- major money center banks.
Are very reluctant to pull money out on the street particularly lending to small businesses.
So I think those two particular things from a regulatory perspective will be very very positive for small businesses are.
This -- clients.
Do not like -- -- -- and they certainly -- having better lending environment single Armani and grow their business and the optimistic again.
Great great excellent points OK so I also -- -- look at Obama what he said last night we have a side here take a listen to this one.
On tax cuts and small.
Middle class families and small businesses.
I don't believe that another round of tax breaks for millionaires will bring good jobs for shores -- pay down our deficit.
I don't believe the firing teachers are -- students off financial labeled broad economy or help us compete with the scientists and engineers.
Coming out of China.
After all we have -- -- I don't believe that rolling back regulations on Wall Street will help the small business -- expand.
For the laid off construction worker keep his home.
That sounded pretty bad right right bank sounding this -- It sounds very convincing and I'm sure there -- many people louis' who have no we're convinced.
But what the president sort of confuses is more doesn't mean higher following.
It just means more dollars.
More teachers doesn't mean higher quality education we need better teachers and how we need better or effective government not just more.
And you know relative to his.
Conversation about taxes -- -- payroll taxes and what that led to his work consumption.
But that didn't help the business environment there really is looking for a lower tax rate not just today -- going forward for many years Citi planetary cash flow out.
Take that -- it was dollars and pass.
And we need a business and and government strategy and policy.
That encourages investment and not consumption to the biggest problem United States kind of thing.
And that and that's good in everyone comes down so hard on Mitt Romney brings years -- being -- level.
Mitt Romney as a successful businessman.
He's successful businessman he's a great manager is great leader and frankly he's term -- There's anything in this country needs it's a turnaround guy because we turn around the economy.
We need to reallocate resources and give people positive again and grow businesses.
If you look at stock market's performance.
In the final part of the year.
When the stock market is strong and it is pretty strong right now I mean in NASDAQ is at a twelve year high typically the incumbent president will win.
It is true people -- feeling well here today -- And the primary reason for as the Federal Reserve keeps pumping money into this -- the rally yesterday was primarily based upon lose money.
And that this money is creating an increase fast -- and more are.
It is -- is easy it's government policy tool to coffee economy through debt or lose money and to create false sense of.
Right and we're gonna that's why the jobs report -- so -- today everybody but the stock market is not falling off a cliff because it just means when the Fed meets next week they'll probably say here here's stimulants.
Rallied further markets even though it's on a false sense of confidence Barry Sloane the CEO of new -- the small business authority thank you so much for all of your insight.
And to following us of all those soundbites that we throughout -- for instantaneous reaction -- -- thoughts I particularly like them more does not mean better one.
Okay thank you so much for joining us thank you everybody for.
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