Bob Dole Stands on Small Business
Clinton's War on Small Business
Small businesses are the driving force in our economy. Today they are more
important than ever. America's small businesses are the engine of job creation.
Small firms employ almost half of America's workers.
The last thing the government should do is hit those small entrepreneurs with
more taxes and regulations than they face already. But that's exactly what Bill
Clinton is doing. In just four years he has launched a full-scale assault on
- Signed the Largest Tax
Increase in History. Bill Clinton's 1993 tax increase -- the largest
in history -- forced millions of small businesses to pay at a new and
higher top income tax rate of 39.6 percent. In fact, more than
two-thirds of the people who pay President Clinton's new top tax rate are
America's small business owners.
- Opposed Regulatory
Reform. President Clinton threatened to veto legislation that brought
sensible risk assessment and cost-benefit measures to new regulations.
- Stifling Regulation.
As of April 1996, the volume of regulations published in the Federal
Register had grown to 202 volumes and 131,803 pages.
- Vetoed Product Liability
Reform. This vital reform would have directly helped small businesses
that suffer disproportionately in frivolous lawsuits. The legislation
would have helped lower the cost of liability insurance -- a growing cost
for small business.
- Vetoed Securities
Litigation Reform. This reform would have reduced frivolous lawsuits
against high-tech companies. But Clinton sided with wealthy trial lawyers
-- over the owners of millions of bio-tech companies -- and vetoed the
- Vetoed Small Business
Tax Cut. Clinton vetoed the Balanced Budget Act of 1995 which included
estate tax reform, capital gains tax rate reductions, increased
deductibility of health insurance, and increased equipment expensing.
- Ignored Small Business
Recommendations. After Clinton convened a White House Conference on
Small Business last year, he opposed 22 of their 26 recommendations.
A Dole-Kemp Administration Will Let Small
The Dole-Kemp economic growth plan will reduce the tax liabilities of 19.2
million small businesses by 15 percent. In addition, the Dole-Kemp plan will:
- Increase the estate tax
exemption for businesses so that family-owned businesses can stay in the
- Cut the capital gains tax
rate by 50 percent, which will help business owners and also unleash
capital that will be invested in new and rising small businesses.
- Restore a meaningful home
office tax deduction to provide relief to the growing number of home-based
- Reform the independent
contractor and employee classification rule to make the rules clear,
simple, and objective -- so that small businesses can easily determine
up-front if their new hire is an employee or an independent contractor.
- Increase the tax deduction
for health insurance costs for self-employed small businesses from 80
percent to 100 percent.
- Allow small businesses
access to Medical Savings Accounts and other health options.
- Allow small businesses to
set up SIMPLE pension plans, free of stifling IRS rules.
- Provide relief from
over-burdensome federal regulations by requiring agencies to consider the
costs and benefits of regulations before implementation.
- Establish a regulatory task
force to evaluate federal regulations and recommend the elimination of
laws that are out-dated, ineffective, or not cost-effective.
- Enforce the Paperwork
Reduction Act to relieve small business of the paperwork burden.
A Better America
The Dole-Kemp economic plan is designed to make the entire economy grow. A
Dole-Kemp Administration will do this by stregnthening small business -- the
backbone of the American economy.
opportunities. Smaller government. Stronger and safer families
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