Small business may suffer under Obama
| January 24, 2009 |
The construction and manufacturing industries are hoping for a few crumbs from the $850 billion stimulus bill. As we documented in the post below, it won’t be much and it won’t stimulate anything except the government payrolls. What’s even more troubling about the lack of infrastructure spending in the stimulus bill is the very real possibility that the new congress and administration is preparing to saddle small businesses with the biggest package of tax increases, social obligations and regulatory choke holds in the history of government.
California has become the poster child for this kind of regulatory suicide. While its government payrolls swell and regulators nit pick every aspect of private business the Golden State is running out of money and driving away businesses and citizens in droves…and lest we forget, spending almost none of its state taxes on infrastructure.