President Obama says that he “supports small businesses” because they are the “engines of job creation.” But do his actions -- and those of the federal government as a whole -- back up his claims?
The data says no.
A new report from TIME has found that total entrepreneurial activity in the U.S. fell to 12% in 2015, from 14% in 2014. Fewer people are starting small businesses because, as one commentator told CNBC, the challenges of overcoming regulatory hurdles, as well the cost of providing healthcare to employees, discourages many people from owning their own business.
The President is correct: small businesses drive job creation and economic growth. If this is the case, why do the feds impose so many overbearing regulations and mandates? The truth is, Washington, D.C., is in the (big) business of power, and they’ll continue to impose their will on American small business owners until we do something to stop them.
Enter Article V and the Convention of States Project. A Convention of States is called by the people -- acting through their state legislatures -- for the purpose of proposing constitutional amendments that limit the federal government’s regulatory power. These amendments can prohibit Washington from imposing constricting regulations and free our small businesses to create jobs and wealth to their full potential.