Small business owners suffer
New economic polls reveals the country is going in the wrong direction
The state of the economy and the national deficit is a source of constant concern for the American people. For the past decade, economic policies have driven and decided political elections in the U.S. The upcoming presidential election will be no different.
DOWNHILL — Small business owners believed nation’s economy will continue to suffer. Google Images
Effective economic policies galvanize support of politicians who enact them, and many believe that the effectiveness of an economic policy is best gauged by the status of the middle class. If the middle class is strong, the economy is strong. If it is weak, the economy will be weak.
The heart of the middle class exists in the form of small business ownership. Small businesses are the voice of the middle class and generally reflect the overall condition of the economy. According to the Small Business Administration, “Small firms accounted for 63 percent of the net new jobs created between 1993 and mid-2013 (or 14.3 million of the 22.9 million net new jobs).” The success of small businesses usually signifies a growing and healthy national economy.
Unfortunately, many small business owners believe that the national economy is not in a good state. According to a survey conducted by the National Federation of Independent Business, 70 percent of small business owners believe that the business climate is poor. Additionally, 63 percent believe that the nation is headed in the wrong direction.
If nothing else, this survey reveals that the majority of small business owners desire reform in Washington. As a result, economic policies will be a major factor in the presidential election, and this comes as good news to the GOP candidates.
Many of the concerns raised by small business owners favor the policies held by the majority of Republican candidates. The greatest factor is small business owners’ desire for a reformed federal tax code, and several of the GOP candidates are fighting for tax breaks for the middle class and the elimination of capital gains tax.
Not only does the GOP have the policies to gain small business support, but they also have the personnel. With business tycoons such as Donald Trump and Carly Fiorina, the Republican Party has presented expert understanding and analysis of the economy and is in good standing to secure the votes of small business owners.
As far as the Democratic Party is concerned, the results of these surveys severely hurt the Democratic candidates. Whether it was health care, taxes or classification restrictions, small business owners communicated a strong desire for a significant decrease in government intervention.
Many of the feelings and ideas that are put forth by small businesses come as a result of the economic policies from the past seven years under the Obama Administration. From Obamacare to tax hikes, small businesses have been knocked around and controlled by government oversight and are unlikely to sign up for an additional four years of Democratic policies.
No one wants to jeopardize the steady economic recovery that is occurring in the nation. As a result, small businesses hold more influence than ever over the outcome of the election. If small business owners show strong support behind a particular candidate or party, the rest of the nation is likely to take notice and follow suit. Either way, there is great strength
in the middle class.
EAGEN is an opinion writer.