America's entrepreneurial class is dying
Posted in the Bolingbrook Forum
#1 Jul 18, 2012
While small businesses have certainly taken a hit following the Bush Great Recession, the evidence shows that American entrepreneurs have been getting pummeled for more than thirty years. According to a new study released today by the New American Foundation, the number of entrepreneurs per capita has dropped by 53% since 1977. And since 1991, the number of Americans who are self-employed has dropped by more than 20%. In other words, Americans who use to be able to start their own businesses are increasingly being forced to join the ranks of the working poor.
That's because our nation has forgotten how to foster an entrepreneurial class over the last thirty years. With massive tax cuts for the wealthy and for transnational corporations - the rich are getting richer and the big corporations are getting bigger. It doesn't help that we no longer enforce the Sherman Anti-Trust Act and have jumped head-first into so-called Free Trade either, which has given way to giant transnational corporations that small business upstarts simply can't compete with. Not only that, we've destroyed the social safety net in the country, which used to give Americans a chance to take risks and try new jobs because they had a net of security to fall in if they failed.
Today if they fail, they're condemned to indefinite poverty - so no one can afford to take risks to start small businesses. This is the consequence of thirty years of Reaganomics - and it's what Republicans today are doubling-down on.
Since: Dec 09
#2 Jul 19, 2012
WalMart effect, its too big to stop now. Our own government has been leading us to slaughter for years. We all can sit here and blame what ever political party we want but the fact is only 2 parties have run this country... into the ground. Time for a TRUE 3rd party that is for the people.
#3 Jul 19, 2012
Is this a joke? Did you transcribe the above from one of the communist textbooks you're reading in your local liberal institution of higher education?
The Recession was due to a terrorist attack on America in 2001. Bush was working his way back to a recovery when the Community Organizer in Chief took the helm and drove our economy straight off a cliff.
Obama believes that all wealth ought to originate with federal and state governments and has crippled job creators with burdensome regulation and higher taxes. When a business owner has to pay higher taxes, guess what? He or she will not be hiring or expanding that business. You bemoan the dying entrepreneurial class in America? Your buddy Obama is the one administering the lethal injection on taxpayers. Use of food stamps has skyrocketed under his watch and dependency on government has never been higher in modern times.
For two years this joke of a president had full control of Congress and all he could do is threaten, blackmail and deceive to get his "healthcare" debacle passed - no one even had the chance to read the trash of legislation. Now we are seeing that the cost estimates he threw out were dramatically lower than the real costs that will be passed on to us and our children. He didn't spend a single moment focused on jobs. In fact, this forced tax for health insurance is the final nail in the coffin of many small business owners across the country.
We need to elect Mitt Romney so that he can unleash the free market again in America and move us away from the slavery to government into which our current president has driven.
#4 Jul 20, 2012
Five FACTS about the Massachusetts economy under Mitt Romeny
1) Ranked 47th in job growth: Despite Romneys professed expertise in creating jobs, Massachusetts ranked 47th in job growth during his time as governor. The states total job growth was just 0.9 percent, well behind other high-wage, high-skill economies in New York (2.7), California (4.7), and North Carolina (7.6). The national average, meanwhile, was better than 5 percent.
2) Suffered the second-largest labor force decline in the nation: Only Louisiana, which was ravaged by Hurricane Katrina in 2005, saw a bigger decline in its labor force than Massachusetts during Romneys tenure as governor. The US Census Bureau estimated that between July 2002 and July 2006, 222,000 more residents left Massachusetts for other states than came to it. That decline largely explains the states decreasing unemployment rate (from 5.6 to 4.7 percent) while Romney was in office, according to Northeastern University economics professor Andrew Sum. At the same time, the nation as a whole added 8 million people to the labor force.
3) Lost 14 percent of its manufacturing jobs: Massachusetts lost 14 percent of its manufacturing jobs during Romneys time in office, according to Sum. The loss was double the rate that the nation as a whole lost manufacturing jobs. In 2004, Romney vetoed legislation that would have banned companies doing business with the state from outsourcing jobs to other countries.
#5 Jul 20, 2012
4) Experienced below average economic growth and was often near the bottom:There was not one measure where the state did well under his term in office. We were below average and often near the bottom, Sum told the Washington Post in February. As a result, the state was more comparable to Rust Belt states like Illinois, Michigan, and Ohio than it was to other high-tech economies it typically competes with.
5) Piled on more debt than any other state: Romney left Massachusetts residents with $10,504 in per capita bond debt, the highest of any state in the nation when he left office in 2007. The state ranked second in debt as a percentage of personal income. Romney regularly omits those statistics from his Massachusetts record, instead touting the fact that he balanced the states budget (he was constitutionally required to do so). He wouldnt be much different as president: his proposed tax plan adds more than $10 trillion to the national debt.
Um, yeah, elect Mitt Romney, because he really knows what he's doing and TRULY has OUR best interests at heart! PFFFFT!
#6 Jul 21, 2012
Still better that Obama's record.
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