Obama’s overblown tax breaks for business.
Jun 4, 2012, Vol. 17, No. 36 • By FRED BARNES
Bureaucratic rulemaking and delay don’t dampen Obama’s enthusiasm for government. When he talked to small business owners in May, he spoke glowingly about the Small Business Administration. “Sometimes private financing isn’t willing to take a chance on a couple of young guys who have an idea about starting a great hoagie shop,” he said.
True, but Obama doesn’t seem to recognize that companies in need of SBA loans have a common trait: They aren’t a good bet to succeed. “When you’ve got a great service or a great product and people are willing to work really hard, then action by government and the SBA can help . . . get them started,” he said.
Yes, it can. But it’s not needed when a business has a “great service or a great product.” Those firms are likely to attract private investment.
Targeted and temporary are catchwords for Obama’s tax cuts. Across-the-board and permanent are those for the cuts small businesses want and need. One kind doesn’t work, the other does. Obama may not know the difference.
Fred Barnes is executive editor of The Weekly Standard.