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Is Assault on Romney’s Small Business Record a Wise Move?

BuzzFeed reports the Democratic National Committee is planning to go “nuclear” over the attacks on President Obama’s “you didn’t build that” speech, and launch a major assault on Mitt Romney’s small business record:

DNC Communications Director Brad Woodhouse outlined an all-out response to Mitt Romney’s attack on President Obama over his “You didn’t build this” line — which the president and independent fact checkers have said has been taken out of context.

“In conjunction with OFA, we’re going to turn the page tomorrow on Mitt Romney’s trumped up, out of context fact-checked-to-death BS about the president and small business and set the record straight on how Mitt Romney has a horrible record on small business,” Woodhouse said in a memo sent to BuzzFeed, saying there will be on-the-ground events across the country — including in Massachusetts — to rebut Romney’s attack.

You can tell this is a moment of desperation for the DNC, because Obama has plenty of weaknesses in his own small business record. Let’s not even get into the fact that the tax cuts for small businesses that he always touts are actually far less than meets the eye. Hasn’t Obama been arguing for months that the tax cuts for those earning over $250,000 should be allowed to expire? The Heritage Foundation crunched the numbers and found that small business owners in that income bracket could end up paying an average of $24,888 in additional taxes under Obama’s proposals:

They are right to be concerned. According to calculations by The Heritage Foundation’s Center for Data Analysis (CDA), the average American with $250,000 or more in income can expect an average $24,888 tax increase next year under Obama’s proposed policies.

The $24,888 figure is often enough for a salary, and despite what some proponents of the tax hike have argued, many of these successful small businesses do have employees. According to the Treasury Department, 1.2 million small businesses both had employees and earned more than $200,000 in 2007. So the president is putting about 1.2 million jobs—perhaps even more—at risk with this tax hike.

Then there’s Obama’s health care law, which is expected to increase health care costs and the regulatory burden for small businesses. The cost of complying with government regulations is a growing problem under the Obama administration, as the Fiscal Times has reported:

The Business Roundtable just released a list of 60 major new pending rules and regulations from the federal government – all of which may dampen economic activity. The NFIB is so worried about the uncertainty created by Obama’s legislative tsunami that it is supporting the Regulatory Freeze for Jobs Act, a bill that would prohibit important new regulations from taking effect before the unemployment rate drops to 6 percent or for two years, whichever is shorter. Embracing such a “time-out” would be an excellent move for the embattled White House, and most definitely for the country.

The Obama campaign is obviously anxious to get back on offense, but picking this particular fight is only going to end up emphasizing Obama’s own weaknesses.



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