Friday, November 14, 2008
Cuban Lift
Mark Cuban notices something missing from Barack Obama's all-star economic squad:
Cuban is right: Obama needs more than just large corporate CEOs and financial money managers whispering in his ear. He needs those with an entrepreneurial or small business sensibility that can give him some insight on the impact some of his tax and regulatory plans will have on them.
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Not a single entrepreneur. Yes Warren Buffett started a business, but he will be the first to tell you that he "doesn't do start ups". Which means there isn't a single person advising PE Obama that we know of that knows what it's like to start and run a business in this or any economic climate. That's a huge problem.A good friend of mine -- a moderate Republican, who became pretty much disgusted with the Bush administration and particularly the hardball "Rovian" politics -- was attracted to Barack Obama. However, he finally ended up voting for McCain. What was the deciding factor? Wariness over Obama's tax plan: For one thing, as a small business owner, he's concerned that the way he files his taxes, he's going to be hit by the $250,000-plus tax increase. Obama has also discussed lifting the Social Security cap.
If we are going to solve our current economic problems, our president needs to get first hand information on the impact his proposed policies will have on real Joe the Plumbers. People who are 1-person companies living job to job, hoping they get paid on time. We need to know what the impact of his policies will be on the individually owned Chrysler Dealership in Iowa. The bodega in Manhattan. The mobile phone software startup out of Carnegie Mellon. The event planner in Dallas. The barbershop in L.A. The restaurant in Boston.
Entrepreneurs that start and run small businesses will be the propellant in this economy. PE Obama needs to have the counsel of those who will take the real risk inherent in creating companies and jobs. Those who put their money and lives on the line with their business.
Cuban is right: Obama needs more than just large corporate CEOs and financial money managers whispering in his ear. He needs those with an entrepreneurial or small business sensibility that can give him some insight on the impact some of his tax and regulatory plans will have on them.
Labels: Obama Economic Plan
