For the economy to recover, we need a lot of entrepreneurs out there taking a chance and starting up lots and lots of small companies. Well, good luck with that:
President and founder of Subway Fred Deluca described some of the challenges payroll tax increases and Obamacare have presented small business franchisee owners Wednesday on CNBC.
[. . .]
It’s continuously gotten worse, because there’s more and more regulations. It’s tougher for people to get into business. Especially a small business. I tell you, if I started Subway today, Subway would not exist, because I had an easy time of it in the ’60s when I started. I just see a continuous increase in regulation.
Presidents get both more credit and more blame than they deserve for economic conditions. The state of the economy at any given moment is the result of a complex set of factors. But an administration can help create a good or bad climate for business and economic growth. Anybody out there who really wants to argue that we have a good climate now? Wonder how many great companies we might have had but don't and will never know about?