Mr. President the business of America is Business NOT Government
I
take President Obama’s latest slam against small business people
personally. I was a small business man for 30 years and during that
time I did over 2,000 private placements to raise the capital to feed
several million cattle. During that time the only obstacle I faced was
government. If it wasn’t SEC compliance, it was tax law concerns. If it
wasn’t agricultural department red tape it was slaughter house
regulations.
I
conducted this business as a tennis shoe cowboy in Encino CA with the
help of 2 or 3 clerical help. To tell me I had to thank my lucky stars
for government’s help is pure Marxian propaganda on the part of Obama.
Government restricted and limited my capabilities and opportunities at
every turn. I won’t thank government I will fight it in the future to
limit its powers.
With the passage of the Sarbanes-Oxley and Dodd Frank legislation I couldn’t afford to do what I did for 30
years as it would cost me $200,000 to $400,000 for EACH private
placement even before I attempted to get an investor. No wonder
start-ups have slowed and unemployment is sky rocketing; raising money
for new ventures is limited to only the very wealthy who can afford the
cost of these new regulations. Let’s face it, these regulations favor
the very wealthy contrary to the BS Obama is selling the middle-class
and poor people.
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