Gallup released a survey of small business-owners on the problems they face and they blame government regulation above all else. When asked an open ended question, “What is the most important problem facing small-business owners like you today?” 22 per cent responded “Government regulation.” More depressing, 1 in 3 small businessmen fear they will go out of business when they think ahead to 2012.
This news drops just as the U.S. Treasury Department claims that the cost of government regulation doesn’t burden business.
Yesterday the Treasury Department posted an article by Jan Eberly to their blog, saying government regulations were not an impediment to business.
They quoted Timothy Geithner’s recent senate testimony:
I’m very sympathetic to the argument you want to be careful to get the rules better and smarter, but I don’t think there’s good evidence in support of the proposition that it’s regulatory burden or uncertainty that’s causing the economy to grow more slowly than any of us would like.
Not so fast, say people in the real economy. Here’s Gallup:
Small-business owners’ assertion that government regulations are the most important problem facing them today is consistent with another recent Gallup poll (Oct. 6-9) in which 14% of Americans volunteered that reduced government regulation is the best way to create jobs in the U.S.
Check out the whole depressing survey here.
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