The tsunami of new regulations coming out of Washington that is sweeping our small businesses out to sea is only one element of a bureaucratic war against those who employ 70 percent of Americans.
The fines that soon will be employed to bully these businesses into surrendering their independence to Washington are another. Devastating taxes on private small-business owners, a.k.a. “the rich,” whose businesses make more than $250,000 per year is yet another.
The large corporations, those who can afford the accountants and lawyers necessary to satisfy Washington and Wall Street operatives, control the Congress. They have no interest in helping small-business innovators who might cause them to compete. With their minions in Congress, they have engineered retirement plans of various kinds - 401(k)s, IRAs, Roths - that have one thing in common: Funds contributed to them are prohibited from being used to fund small business.
Venture socialism, in the form of gigantic investments by the taxpayer in failing, but well-connected, companies, is denying capital to healthy small companies in the marketplace.
White House czars and czarinas, Congress, Wall Street and K Street are suffocating small business and with it capitalism, freedom and the independence of the American people.
But we have been here before. In the founding days of the Republic the “Financier of the American Revolution,” Robert Morris assessed a situation not dissimilar to our own today: “The derangement of our Money Affairs. The Enormity of Public Expenditures. The Confusion in all Departments. The Languor in our general System. The complexity and consequent inefficacy of our Operations.” He and his cohort solved these problems one by one. They created the road map, if only we will follow it.
C. Ward Bond