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Marlin Steel president Drew Greenblatt says small business owners are at a competitive disadvantage compared with overseas rivals.
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Much title President Obama has had -- of those CEO's coming up might get -- awkward.
But senator Roger Wicker of Mississippi said on our show yesterday the president may be meeting with the wrong business leaders.
What I wish the president would do tomorrow.
-- -- of talking to CEOs from big business is bringing in some small business leaders the people that take risks the people have to go to the bank.
And borrow money and create jobs.
The way we do it in America the small business slowly ought to be talking -- -- Now was one of them a small business leader just testified before the committee on oversight and government reform.
Drew Greenblatt president marlin steel.
Thanks for being whether it's drew wanted to start with that surprise today a year ago the president agreed to a hundred billion dollars in tax increases now we captors election.
It's risen double to one point six trillion what does that in terms of message for you in your small business colleagues.
This is an issue of competition.
Every day where are fighting economic adversaries overseas and if we're not competitive.
We're not gonna -- we're not gonna hire more jobs.
Local American jobs like take my factory for example.
We make a 100% of everything in our inner city location in Baltimore.
And we export to 36 countries.
I compete -- Germany I -- Canada I compete with Mexico.
And if if if we are not competitive.
With Germans or Canadians we're gonna lose.
And that means I'm not to be able to hire locals if my taxes are higher than a Canadian factory and were not gonna win the job.
Right now on paying in the 40% -- arrange my Canadian count adversaries pays 15%.
They're 15% includes health insurance.
My 40% I give blue cross blue shield all my employees.
And -- so I have my 40% plus health insurance so we're at a massive disadvantage.
Against the Canadians had -- right disadvantage against the Germans.
And President Obama if he raises the taxes.
And the burden.
On American entrepreneur -- and American job creators what's gonna happen is we're not going to be able to be competitive we're gonna lose jobs we're not gonna be able to hire locals.
In the question is whether any CEO today will be so impolite as to tell the president that to his face what else would you tell the president or ask him if you're that meeting today.
Well American factories have a 20% cost differential.
Compared to our economic rivals so for example.
Things like we already talked about taxes but there's also regulations.
There's towards all these issues are burdens so that makes -- 20% more expensive to build them.
In America than in France or in Canada or Mexico.
So what happens is we're losing jobs and we ship overseas now right now -- export to 36 countries.
45% of my -- of my employees make a living because of our export market.
If we could lowered that pain that 20% burdened down.
All win more jobs all hire more locals and that -- happened.
All over our nation and will happen is we'll end the recession very quickly by making us more competitive right if that one point six billion which trillion dollars.
Is leveled on the job creators in America what happens is we are less competitive so we can't hire locals -- -- -- week.
Hearing about uncertainty -- -- business.
You actually delayed purchase -- -- 400000 dollar welder.
Because a machine because of uncertainty.
But now that you -- -- let's say that -- is gonna look -- one point six trillion will that make you buy that 400000 dollar welder.
What -- on pause I mean we're we're waiting to see how things settle out we very much want.
And very good resolution of this we want the debt.
To be reduced over time.
It's not fair that my boys have a 50000 dollar burden and they never voted they've never worked at three boys each one of them 050 grand.
Took foreign countries.
You know 101000 dollars each to China if it's it's not right.
We have to fix the debt.
We have to fix the deficit we have to start cutting.
And we have to make this very.
Happen very fast so we get more certainty so people like myself okay go invest an end and be more competitive -- hire more people well it's like a President Obama -- profit cut tax on corporations -- like today he said he wants to raise them thanks for being with -- -- drew Greenblatt.
