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From: the green flash 
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Subject: Why does Obama HATE small business???
Date: Fri, 10 Aug 2012 09:04:35 -0600
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Why Does Obama Hate Small Business?


posted by Wayne Allyn Root on Mar 25, 2011


By Wayne Allyn Root, Former Libertarian Vice Presidential Nominee and 
Author of “The Conscience of a Libertarian”

I’ve started more than a dozen small businesses. For one, over $20 
million was invested by me and investors who believed in me. I’ve paid 
payrolls, health insurance, payroll taxes, workers comp, and 
unemployment insurance for hundreds of employees.

Because of that, my employees were able to pay their mortgages, buy 
groceries, send their kids to college, and provide for their families. 
For this same small business, I spent about $50 million dollars on 
things like advertising, marketing, promotion, lawyers and accountants. 
That money enriched and employed thousands of others. And, that’s just 
one small business. Think of the impact that thirty million small 
business owners have on the U.S. economy. No wonder we create 70% or 
more of America’s new jobs. Small businessmen and women are a far more 
powerful economic force than Exxon, Microsoft, GE, or WalMart.

So why do Obama and his socialist cabal hate us? Why do small 
businessmen and women feel demonized and punished? Why is it Obama’s 
goal to drive us out of business?

Mug or rob me once? Maybe it’s ignorance or a mistake. Twice? It’s a 
pattern. But, coming up with ways to rob and destroy me and my 
businesses on a daily basis? It’s time to get the message. Without a 
doubt, Obama and the progressive left are the enemy of small business.

Let’s look at the facts.

For 30 years I have been able to deduct mortgage interest from my 
taxable income. Obama wants to end that. How many so-called "wealthy" 
taxpayers (i.e. small business owners) would no longer be able to pay 
their mortgage? How many homes would go into foreclosure? What would 
happen to the housing market? Overnight every home in America would lose 
40% of its already decimated value. How many small businesses earn a 
living off of real estate? How many millions of jobs would be lost? Does 
this sound like a President looking to create jobs?

For 30 years FICA taxes have been based on earnings currently capped at 
just over $100,000 per year. Obama wants to remove the cap, thereby 
hitting small businessmen with the largest tax increase in history. 
Overnight a small business owner making $500,000 per year would see his 
or her FICA plus Medicare taxes go from about $15,000 per year to 
$75,000. That’s $75,000 before federal or state income taxes. That’s a 
$60,000 per year tax increase for a small business owner. That would 
drive hundreds of thousands of small business owners out of business. It 
would force layoffs. It would lower consumer spending and kill more jobs.

For 30 years I ran my business without the extra taxes to pay for 
Obamacare. Now we face new taxes on income, stock sales, home sales, 
even on tanning beds! Worse is the provision mandating we report 
annually to the IRS every vendor from whom we purchase more than $600 of 
goods and services during the year. The cost of complying with this Big 
Brother Gestapo mandate is unfathomable and threatens to drown millions 
of small businesses in paperwork.

For 30 years, most small businesses could raise capital without 
government permission. Obama and his socialist friends in Congress want 
to change that. Last year Democratic Senator Dodd tried to pass 
financial reform that included a provision increasing the amount of 
money one would have to earn to be considered an “accredited investor.” 
That would reduce the angel investor pool by an estimated 70% and 
require most PRIVATE businesses get permission from the SEC to raise 
money. Do you know what an SEC lawyer costs? Raising capital for any new 
startup would suddenly cost an extra $250,000 in legal fees…and take 
months, or years, to wait in line for SEC approval. This would kill new 
business start-ups. Who could come up with this idea? Only a Marxist 
looking to destroy the American economy, or perhaps a cabal of 
extortionist lawyers looking for government to mandate obscene new legal 
fees. Either way, it was a “Friend of Obama.”

For 30 years I ran my businesses without the White House being in 
partnership with the American Bar Association. Now Obama has found a way 
to encourage every lawsuit junkie and disgruntled employee to make up a 
story and sue their boss. Every caller to the White House alleging their 
boss has broken the law now gets assigned a lawyer willing to work for 
contingency (no fees up front). Say goodbye to American business...and 
goodbye to jobs.

Keep in mind that all those new taxes and regulations mentioned above 
are aimed at people who risk their own money to start businesses. 
Collectively we risk trillions. Our courage and capitalism fuels the 
economy and creates over 70% of new jobs. Our taxes pay for government 
and all those government employees with their obscene pensions. Running 
a business often requires working sixteen-hour days and is the hardest 
thing you’ll ever do. If our reward for all this risk, sacrifice and 
work ethic is to be punished and demonized, why would we keep doing it?

This is no mistake or coincidence. This is a purposeful plan to destroy 
capitalism. And the best way to destroy capitalism is to destroy small 
business. Obama is trying to redistribute our wealth and create a jobs 
crisis. He can’t stand that we small business owners don’t need or want 
government to save us. So he’s out to ruin our businesses, and bring us 
to our knees begging for government to help. And as a bonus, he gets to 
wipe out the biggest contributors to conservative causes -- small 
business. In other words, killing small business wipes out Obama’s 
political opposition.

Yes, ladies and gentleman, we have met the enemy of small business…and 
he resides in the White House.

Wayne Allyn Root is a former Libertarian Vice Presidential nominee. He 
now serves as Chairman of the Libertarian National Congressional 
Committee. He is the best-selling author of "The Conscience of a 
Libertarian: Empowering the Citizen Revolution with God, Guns, Gold & 
Tax Cuts." His web site: www.ROOTforAmerica.com










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