Today is Small Business Saturday, a new holiday supported by little firms such as American Express, Google, Verizon, Dun and Bradstreet, Occupy Wall Street and –[gush, breathless] Barack Hussein Obama!
Just by the sponsors alone you can tell this is a program designed to create millions of small business jobs in places like India, China, Thailand and Mexico.
Remember, there’s no U-S-A in small business. Ok, maybe there are the letters U-S-A in small business, but why let the facts get in the way of another of Obama's Potemkin jobs moments.
In the Orwellian world of Obama-speak, Small Business Saturday is a day when we should “reaffirm our support for America’s small business owners and their staff, and …celebrate the proud tradition of entrepreneurship they represent.”
Reaffirm and Celebrate. Gotcha. Words that will make the eyes of any small business owner red with gratitude when Obama sends them their very own personal Small Business Saturday greeting card made by Hallmark’s greeting card division instead of Hallmark’s retail store or broadcasting division.
Because what celebration of small business would be complete by the Obama administration without reaffirming the mounds of red-tape that Obama and his confederates have saddled small business with?
“Overall, the Obama Administration imposed 75 new major regulations from January 2009 to mid-FY 2011, with annual costs of $38 billion,” reports Heritage.
In contrast, there were only six deregulatory actions by the Obama administration saving $1.5 billion says the Heritage report.
And those costs were just the cost by the government to implement the regulations, not the overall cost to industry- that is; not the costs to you and I.
In terms of the overall impact on the economic health of the country, the figure is much higher.
“More specifically, the total cost of federal regulations has increased to $1.75 trillion,” writes the federal government’s own Small Business Administration.
Heritage reports that that’s nearly twice the amount that the government collects annually in individual income taxes. Ouch!
The costs are a hidden tax, not just on the rich, says Heritage, but on everyone equally.