The Fed Agrees.
It is absolutely true that small business is the employment driver for this country and in many respects for the world.
A recent Brookings Institution study determined that the US is at its least entrepreneurial in decades. Companies are dying, and new companies are not coming online fast enough.
For as long as there has been an “American Dream” there have likely been people who insisted that it was dead. But it’s funny. No one really knows what the “American Dream” actually is.
The company has 17 trucks and 30 employees. 2 of the trucks apparently had a defective tire on them when inspected and the federal government cited the company and sent a letter demanding a “Plan of Corrective Action.” The letter was sent by regular mail, and was not received. Getting no response from the business owner the Feds shut down the company.
Basically if one had an individual plan one was likely going to lose one’s coverage. If one was lucky enough to have a large group plan through a company then one was likely to see things remain the same. (Don’t want to upset the employees of corporate donors.)
It’s the small business owners, artists, consultants, etc. who get hammered, which is typical in a crony capitalist system.
It didn’t lose control. Big business still has plenty of sway within the GOP.
In the attached essay I think Simon Johnson gets it mostly right. He asks the same question that is asked all the time in some circles. “What should the government do to encourage entrepreneurs?” A least he says “not too much.”
He’s right about that but he still gives the obligatory nod to government “encouragement.” He is writing in the New York Times so one has to expect this.
It is a weird time in American politics when the US Chamber of Commerce is complaining about Republican members of Congress not falling in line.
The Chamber wants its piece of the government pie too. Sure it wants “small government” in theory, but actually being for small government is a real pain.