State of Union Wasn't Good For Small Business: Cantor
President Obama’s State of the Union address last night addressed some of the concerns that CNBC.com's Small Business Council hoped to hear — although he may not have responded in the way some members would have wanted.
For one, he’s still the president.
Second, increasing taxes for the those that earn $250,000 or more is still on the table.
Eric Cantor, (R-Virigina), House Majority Leader, appeared on CNBC’s Squawk Box earlier today to discuss, among other things, how taxes and regulations are stifling small business growth — two things that he said Obama’s speech did nothing to address to the satisfaction of small business owners.
“Every business at one point was a small business,” he said. We need to reclaim this aspirational sense, unleash the innovation that is pent up because of the overly intrusive policies coming out of this White House.
“We need a bold vision of strong economic growth that doesn’t involve more regulation and more taxes,” he added. It should be coming from the private sector.
"We shouldn't be settling for 2 percent to 3 percent growth. We should be at 5 percent or more, and the way we're going to do that is we're going to unleash the willingness of people to begin to take risks again."