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Dan Danner, NFIB CEO, on how small businesses will vote in November and how regulations are impacting the entrepreneurial spirit in America.
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-- says 55%.
Of small business owners would not start a company today.
Those business owners say the president's regulatory policies have hurt their businesses and that's why they wouldn't go through the rigmarole of starting a new and Dan Danner is the president and CEO the national federation of independent.
Business damn good to see I've seen these -- sort of surveys before in the past.
I don't recall a time when 55%.
A majority of the small businesses said they wouldn't do it again is that is that new.
It is -- and I think it's a chilling number.
-- -- if we're sand Ted.
Entrepreneurs risk takers now's not the time to invest now's not the time that started business.
And grow jobs.
Now than our outlook for.
Making the economy better and increasing jobs is pretty Graham.
Chance -- me it is reminiscent of the the late 1970s.
I remember the same kind of doom and gloom like thoughts going through the minds of business owners back then of course there we should mention that there were some.
Very revolutionary upstarts that were started in those times like FedEx and apple and the rest of them.
However it is it is kind of reminiscent of that time period is -- not.
It is and I think most of our.
Small business owners that were around then think it's worse now they think there's a fundamental.
Misunderstanding.
-- appreciation.
What it takes to start and grow and operate a business.
Well and and it it particularly fall's heavy I think on small businesses which you represent more than the large a lot of these regulations coming out of Washington.
Or one size fits all whether it's health care the new health care law.
Whether it's workplace rules.
-- whole slew of things of course the financial regulations in fact.
I have to.
A take issue with something one of your your proponents said Blanche Lincoln the former senator who now works for your organization we had a little tete a -- on that issue.
About one size fit all rates and how -- -- small business particularly small banks let's just take a listen get your response.
I was senator Dodd-Frank.
Which treats the small banks basically same is a big ones -- banks are getting killed.
Another not the small banks are not getting killed and we don't want real regulation -- senator I'll give you the names are the ones we have and they are getting killed when a -- well I'd see what.
There were a lot of banks in a lot of positions where they shouldn't have -- We tried very hard not to treat them all as the saying.
The small banks don't have all of the same regulations that some of the larger financial institutions.
But that's not what I'm hearing from a lot of small banks they say we are forced.
As small institutions to deal -- rules that were frankly.
Designed in many cases by these large banks -- all of their lawyers and lobbyists inside the beltway.
Go ahead debt.
Well we are hearing and I think probably a little bit more what you're hearing whether it was an intense and unintended consequences are not.
We're hearing from small community banks who did not.
Have a lot of a bad loans did not have a lot of bad.
Debt and say they're still -- -- hammered by the regulators.
And it's making it very difficult.
For them to make loans to.
Small businesses who have good credit.
Who are running in the black and who have never missed a payment but it's still hard to make loans to them because -- regulators are sitting on.
So why -- what do we do we're stock was stuck with a situation we have 111000.
New federal regulation since President Obama took over that's much more than other presidents.
-- -- -- in it in the same amount of time what what do we do the small business voice is so hard to be heard inside about what.
What is in the end you know what we're trying to do is to.
Be active in this election cycle -- frankly elect more small business owners at every level.
To to speak to every candidate about.
The significance a small business in the economy and creating jobs and make a difference in November.
And and how successful are you be argued are you getting anybody opening those stores and wash your -- still being slammed in your face.
Now we're getting some you know it's it's.
I agree with your earlier comment I still think that there is a tendency for one size fits all that.
You know what works for General Motors then -- firm.
The small employer with ten employees in just does not so I think it's a -- -- Uphill battle to keep bang in a way that.
If you want to create jobs these are the people on main street that get it done.
Okay we're talking about regulations let's talk briefly about taxes governor Romney.
Says that his tax policies that he wants to implement if elected.
Will particularly affect small businesses in a positive way which -- play the tape and get your response.
Small businesses typically pay tax at the individual tax rate.
And -- -- individual income taxes are once I want to reform make themselves -- wanna bring the rates down.
By the way don't don't be expect to get huge cut in taxes because I'm also -- -- deductions and exemptions but by bringing rates down.
Will be able that -- small businesses keep more of their money so they -- Arab.
More people it will lower rates and fewer deductions help small businesses.
Absolutely I mean what one of the things it's a fundamental debate right now is the impact of the top rate.
If you make over 250000.
Dollars in urine -- corporate LLC that is not all take -- home.
You're not rich that's your ability to invest in your business and create jobs.
And one of the things the president said is -- overall rich people we need to tax them more.
And that you know and we think that's fundamentally wrong you're taxing job creators.
And that will decrease not increase jobs Dan Danner National Federation of Independent Business president and CEO Dan good to see -- thank you for being --
