Commentary Magazine


Topic: small business

Business Owners Disapprove of Obama

Via today’s Gallup, President Obama’s approval rating among business owners dropped significantly during the second quarter:

Business owners were the sole group that became significantly less approving, with their second-quarter approval of 35% reflecting a decline from 41% in the first quarter.

While there are too few respondents in some occupational groups to report their approval ratings by month, the internal data suggest the decline in business owners’ approval of Obama came for the most part between March and April, with approval holding at a lower rate since then. The data precede Obama’s much-discussed July 13 comments that small-business owners have had help from others to achieve success. Thus it is not yet clear whether those comments have led to further deterioration in Obama’s standing among small-business owners.

It’s interesting that the decline began in March and April, as the Obama campaign didn’t really start the full-on attacks on private equity until May. But if you recall, March and April were the Democratic Party’s “war on women” months, which certainly could have turned off business owners who aren’t thrilled with the federal government infringing on the religious beliefs of private employers.

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Via today’s Gallup, President Obama’s approval rating among business owners dropped significantly during the second quarter:

Business owners were the sole group that became significantly less approving, with their second-quarter approval of 35% reflecting a decline from 41% in the first quarter.

While there are too few respondents in some occupational groups to report their approval ratings by month, the internal data suggest the decline in business owners’ approval of Obama came for the most part between March and April, with approval holding at a lower rate since then. The data precede Obama’s much-discussed July 13 comments that small-business owners have had help from others to achieve success. Thus it is not yet clear whether those comments have led to further deterioration in Obama’s standing among small-business owners.

It’s interesting that the decline began in March and April, as the Obama campaign didn’t really start the full-on attacks on private equity until May. But if you recall, March and April were the Democratic Party’s “war on women” months, which certainly could have turned off business owners who aren’t thrilled with the federal government infringing on the religious beliefs of private employers.

Note that this poll was taken before Obama’s “you didn’t build that” flap. At HotAir, Ed Morrissey wonders whether this means Obama doesn’t have much to lose:

Business owners obviously weren’t terribly enamored of Obama even before the “you didn’t build that” comment. That prompts a question as to whether the anger it stokes among entrepreneurs will really do that much damage to Obama. He might lose a big chunk of the 35% of business owners that approved of him in the second quarter, but the class-warfare tactic could help to improve his standing in other categories.

I think Obama was already prepared to take a hit with business owners, after his support for raising taxes on high-income earners, and of course the regulatory burdens of ObamaCare. That was the whole point of his “you didn’t build that” populism — to pit the public against the “business owners” who supposedly aren’t paying their fair share. The problem was, he slipped up and his comments came off as aggressive class warfare instead of a call for “fairness.” Most Americans don’t own businesses, and yet most Americans have an appreciation for business owners and entrepreneurs. Many would probably like to own their own business someday.

So while Obama can probably get away with saying business owners should pay more in taxes, he can’t get away with crediting government for their achievements. It’s not business owners who Obama lost with that speech, it’s the wide swath of the public that admires them and hopes to fulfill their own entrepreneurial dreams one day.

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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.

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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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