Business-Killing Obama Is No Candyman

In New Deal or Raw Deal, Burton Folsom, Jr. explains that an atmosphere of regime uncertainty kept businesses wary of President Franklin D. Roosevelt's New Deal policies.  Today, under President Obama, the economy is suffering similarly due to the understandable hesitation of companies to expand.  The two presidents share certain behavioral and policy similarities: incessantly admonishing businesses for being successful, taxing companies excessively, and goring industry with regulations, thus creating widespread uncertainty and depressed economies.  Even at the level of a small business, such uncertainty affects major business decisions. In our small business, my wife and I buy ingredients, then make and sell candy.  Payments received from customers (gross income) are used to pay fixed and variable costs.  The fixed costs include loan and credit repayment, rent, and utilities.  Variable costs include labor, taxes, ingredients, and packaging.  After...(Read Full Article)

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