Mr. President, the business of America is Business, NOT Government
By Dick McDonald
I take President Obama’s slams against small business people personally. I was a small businessman for 30 years, and during that time, I did over 2,000 private placements to raise the capital to feed several million cattle. During that time, the only obstacle I faced was government. If it wasn’t SEC compliance, it was tax-law concerns. If it wasn’t agricultural department red tape, it was slaughterhouse regulations.
I conducted this business as a tennis-shoe cowboy in Encino ,CA, with the help of 2 or 3 clerical workers. To tell me I had to thank my lucky stars for government’s help is pure Marxian propaganda on the part of Obama. Government restricted and limited my capabilities and opportunities at every turn. I won’t thank government; I will fight it in the future to limit its powers.
With the passage of the Sarbannes Oxley and Dodd Frank legislation, I couldn’t afford to do what I did for 20 years as it would cost me $200,000 to $400,000 for EACH private placement even before I attempted to get an investor. No wonder start-ups have slowed and unemployment is sky rocketing; raising money for new ventures is limited to only the very wealthy who can afford the cost of these new regulations. Let’s face it, these regulations favor the very wealthy contrary to the BS Obama is selling the middle-class and poor people.
If Obama and the Democrats are re-elected in November, look for 25% unemployment because Atlas will have shrugged.