Another Gusher to Cap

New Taxes, Regulations and Red Tape Threaten Future of Small Business

After weeks of news bulletins, press conferences and images of oil surging from a blown-out Gulf of Mexico well, we all breathed a sigh of relief when the gusher was capped. But over on the East Coast, dangerous pressure is rising at a wellhead that has the potential to swamp every American small business.

The time has come to begin capping the Washington, D.C., gusher that threatens millions of small businesses already treading water in a tidal wave of new taxes, regulation and red tape.

This gusher will spill directly into your business’ mailbox a toxic concoction of official government demands for your money, time and the equity you’ve gained over the years. And there’s more coming down the pipeline.

No Recovery

The Commerce Department recently announced that the economy isn’t recovering. They didn’t have to tell you that the recession was worse than reported, that customers are scarce, sales are down and Main Street optimism is the lowest in decades. You and millions of small business owners are living that nightmare.

But shortsighted policymakers in Congress and the White House needed to be told. They have ignored the warning signs. Perhaps their vision is obscured by the upcoming election. Every day they proclaim “Small businesses are going to lead the recovery.”

But there won’t be recovery for small business to lead as long as these policymakers float programs that throw open the big-government floodgates demanding more taxes and creating more regulation and paperwork for small firms. The solutions they’ve offered to reverse the 9.5 percent unemployment rate and jump-start job growth will have the opposite effect.

Government Schemes

These bewildered policymakers are urgently cooking up government schemes that feed on your small business for survival. Some will drive up your energy costs; others stifle your operating capital to grow and hire.

It is true that their programs will create new jobs. Unfortunately, those will be government positions. For example, the new health care law calls for 12,000 new IRS tax auditors who will come knocking on your door if you don’t send Washington an IRS Form 1099 for every business-to-business transaction over $600 you make.

Must Shut the Valve

Expect more proclamations of admiration as the election nears, but be wary. There’s only one way to cap this gusher.

You and your fellow small business owners must lend your hands to the difficult task of shutting the valve. Together, we’ll push to repeal the new, expanded Form 1099 reporting ultimatum and challenge every unfair tax, regulation and anti-small business program.

We must put small business-friendly lawmakers in office and send home those misguided policymakers who embrace you only at election time, then set you adrift in an ocean of taxes, regulation and unnecessary paperwork.

Topics Legislation