Letter to the Editor: Obama Presidency is Bad for Business

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To The Editor:

The political machinery of both parties has over complicated what should be a fairly logical choice. Our Nation is sick. We have overspent our way into a $16 trillion hole; $53,000 of debt per person, up from $30,000 per American in 2008. Policies sold as short-term stimulus are the new normal. The average American has sacrificed to reduce their personal debt while politicians ran up another $23,000 in per capita debt on a China Bank credit card.

President Obama would like us to believe that the solution is to raise taxes on the vilified wealthy.  This is a group largely composed of small business owners, the only reliable job creators.  While many would be willing to entertain this idea as part of a comprehensive cost cutting solution, there are a few problems with this approach. First problem: there aren’t enough “wealthy people.” Second problem: small business owners are already struggling to keep their current teams employed under the cost of Obama Care. Expect more New Jersey job losses in 2013 under President Obama.

The Obama Presidency has only succeeded in sucking the wind out of the sails of American entrepreneurism, the proven remedy for generations. Wealthy individuals and business owners have conveyed an overwhelming vote of “No Confidence” in this President with their sidelined dollars and anemic appetite for venture investment. Fewer new businesses have opened under Barack Obama than under any President in the modern era. Trillions in cash are sitting on the sidelines waiting for a reasonable environment.

Government is incapable of putting 23 million Americans back to work, while small business owners can accomplish this task. Entrepreneurs are ready to move trillions of dollars of parked cash into this economy, which will create jobs. However, new leadership is required and a Mitt Romney presidency will restore confidence and unleash investment, which will create jobs and reduce our deficits. 100% of Americans will benefit. It’s that simple.

James Martino,
Franklin Lakes

Have a question or news tip? Contact editor Joseph M. Gerace at Joseph.Gerace@patch.com, or find us on Facebook and Twitter. For news straight to your inbox every morning, sign up for our daily newsletter.

SK October 25, 2012 at 12:09 PM
Couldn't agree with you more. Large and small businesses are utterly mired in red tape and harangued by armies of regulators who in most cases don't respect or understand the businesses they are regulating. They have turned a needed oversight into a counterproductive nightmare.
Steve Becker October 26, 2012 at 01:46 AM
I know this may come as a surprise to both of you, but there are over 400 channels to watch on TV besides Fox and Fox Business, that don't use crayons for graphics and actually present facts to the public on occasion, not what is spewed by self-serving gasbags trying to protect their own fortunes. There is nothing more pathetic than hearing a blowhard pulling in an 8 or 9 figure income, blaming all the world's ills on the 'elitists'. Except maybe those who buy into this crap. Surging stock prices, recovering employment and housing numbers, LESS regulation than has been on the books for years, same for corporate tax rates compared to US history (don't quote factoids if you know they are going to be debunked) and with all their loopholes and privileged status in the tax system, It is nauseating to hear some one crying the blues for people who write off more in "entertainment deductions" (Pole dances?????) than the average family earns in a year. I hardly think the average pizzeria owner is in the 1% your heart bleeds for. As for those who ARE in the aristocracy, too bad if the revenue side of the equation comes from those who CAN pay it. They've had their W-gifted tax breaks for 11 years now, to create all those jobs, and what is there to show for it?


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