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Why Isn't The Stimulus Package Working?
One of the major reasons that President Obama's stimulus program
has not resulted in any significant private sector job creation is
that it ignores small business. I have operated my own small
business and I personally understand the expense of struggle that
small businesses have when dealing with the federal government.
Firms with fewer than 500 employees accounted for 60% (or 14.5
million) of the 22.5 million net new jobs between 1993 in the third
quarter of 2008. Continuing firms accounted for 68% of net new jobs,
and the other 32% reflect net new jobs from firm births minus those
lost in firm closures (1993 to 2007).
What I Will Do In Washington About Small Business
I pledge that I will do everything in my power as your
representative in the United States Congress to reduce the burden
that the federal government places on small business and to see that
a greater focus is given to helping small businesses to grow,
succeed, and create new jobs.
I also pledge that I will do everything in my power is your
Congressman to reduce the bureaucratic load that the government puts
on small businesses.
Why Focus On Small Business
Small firms:
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Represent 99.7 percent of all employer firms.
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Employ just over half of all private sector employees.
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Pay 44 percent of total U.S. private payroll.
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Have generated 64 percent of net new jobs over the past 15 years.
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Create more than half of the nonfarm private gross domestic product (GDP).
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Hire 40 percent of high tech workers (such as scientists,
engineers, and computer programmers).
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Are 52 percent home-based and 2 percent franchises.
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Made up 97.3 percent of all identified exporters and produced
30.2 percent of the known export value in FY 2007.
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Produce 13 times more patents per employee than large patenting
firms; these patents are twice as likely as large firm patents to be
among the one percent most cited.
Source: U.S.
Dept. of Commerce, Bureau of the Census and International Trade
Admin.; Advocacy-funded research by Kathryn Kobe, 2007
(www.sba.gov/advo/research/rs299tot.pdf) and CHI Research, 2003
(www.sba.gov/advo/research/rs225tot.pdf); U.S. Dept. of Labor,
Bureau of Labor Statistics
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