Is the cost of doing business poised to skyrocket on January 1? With tax cuts about to expire and spending cuts poised to take effect, the small business community seems to think so. The WSJ’s Washington Wire blog has the story:
A group that lobbies for small businesses released a big survey showing that uncertainty over the economy and fiscal policy have zoomed to the top of the list of businesspeople’s concerns. Health-care costs and taxes remain big bugaboos too, according to the once-every-four-years survey by the National Federation of Independent Business.
For the past four years, the Obama administration has been reassuring small businesses that his policies are designed with them in mind, and that marquee initiatives like Obamacare and Dodd/Frank will make life easier for them. But a rapidly shifting regulatory burden, the most turbulent economy in a generation, and an atmosphere of uncertainty in Washington have left business owners unimpressed.This is bad news for Obama heading into November. Without small business enthusiasm, we won’t see a true employment boom.