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....during the Trump Administration was a reversal of that trend - new business formation took off, at least in part due to a more business-friendly regulatory framework.....
I would question this. I'm no expert on the matter, but this site made rather different claims:
"Even before COVID-19, the Trump administration had proven itself incapable of inspiring entrepreneurial confidence. Business formation had trended steadily downward over the previous two years. According to a PPI analysis of Census Bureau data earlier this year, new business applications fell steadily from the middle of 2018, after rising more or less interrupted since 2012. Business applications that have a “high propensity” of turning into employer businesses had also fallen since the middle of 2018."
Of course, with the pandemic.... "Over two million small businesses had simply disappeared by June 2020." Yes, there were a significant number of new startups during the pandemic, too, but I doubt there were two million.....
Will we see a return to a toxic regulatory environment that will poison new business formation?
I think you can count on that. Big-govt Democrats are convinced, despite overwhelming evidence to the contrary, that they know how to run a business better than the business owners do.
Yes the party that fiscally destroyed my state run a business. That would be a freight train crashing into a dumpster on fire.
Biden, Harris, Obama, all career politicians that have no understanding of business.
But yet, we decided to pick Trump, who not only doesn't know how government works (despite being near the end of his term), but managed to go into bankruptcy 6 times, and go into massive debt. This despite inheriting $411 million of his daddy's money, and already having real estate networks set up for him.
Speaking of toxic environment, many of our environmental regulations gave been rolled back thanks to Trump.
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Originally Posted by MSchemist80
Yes the party that fiscally destroyed my state run a business. That would be a freight train crashing into a dumpster on fire.
Just repeating what we say on here... "you should've bettered yourself. You should've developed more skills", because when somebody can't find a job, we tell them it's _their_ fault. Don't complain about the environment
When we think about what stymied the recovery after the Great Recession, it is helpful to think about a the biology lesson about the role that cell death plays in explaining embryonic development and normal growth of adult tissue. In economics, as far back as Joseph Schumpeter, or even Karl Marx, we have known that the flow of business deaths and births affects the dynamism and growth of a country’s economy. Business deaths unlock resources that can be allocated to more productive use and business formation can boost technical innovation and overall economic welfare of the country.
For much of the nation’s history, this process of what Schumpeter called “creative destruction” has spread prosperity throughout the U.S. and the world. During the Obama Administration, we saw a large growth in business deaths, but not nearly as many businesses born as we would expect. One of the great things that happened during the Trump Administration was a reversal of that trend - new business formation took off, at least in part due to a more business-friendly regulatory framework. Whereas the Obama years could be characterized as "Let Thousands of Regulations Bloom," the Trump years sprayed some much-needed Round-Up on the Regulatory weeds.
With President-elect Biden promising to sow the seeds of a new Regulatory State, the obvious question is just how much will his administration embrace harmful and unneeded regulatory excesses to satisfy the Sanders, Warrens, and Occasional-Cortexes of Congress?
And, most importantly, how will the economy respond?
Rather than deal in cliches why not cite some specifics? What is it that you fear so much? Business would best be served by eliminating all environmental regulation but doing so would come with consequences like the Love Canal, black lung disease, the Exxon Valdez and DDT. Perhaps you'd care to eliminate OSHA as well as the life, limbs and sight it has preserved?
But yet, we decided to pick Trump, who not only doesn't know how government works (despite being near the end of his term), but managed to go into bankruptcy 6 times, and go into massive debt. This despite inheriting $411 million of his daddy's money, and already having real estate networks set up for him.
Corporate bankruptcy and debt are different from personal - all were chapter 11 (reorganization) that continue operations but allow renegotiate as economic conditions change, they do not discharge debt like chapter 7 that most think of as bankruptcy. You do understand that the US Government would have been in chapter 9 (Govt version of 11) bankruptcy due to the debt if those standards were applied. The Dems want to massively increase the debt, with another $2T+ stimulus, discharge of student loans (essentially chapter 7 for debt payers) and Medicare for all.
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Speaking of toxic environment, many of our environmental regulations gave been rolled back thanks to Trump.
If you mean the Paris accord, that was a bad deal that was never a ratified by congress as required of all treaties so technically not a treaty that the US was a party to. That treaty was very one sided since it had no impact on countries like Russia or China. The treaty would do nothing to save the environment since does not reduce emissions from the worst polluters. The costs of environmental compliance have to come from someplace - like from lower job creation, higher costs of living or both - they are hurting US based manufacturing and the lower income folks the most.
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Just repeating what we say on here... "you should've bettered yourself. You should've developed more skills", because when somebody can't find a job, we tell them it's _their_ fault. Don't complain about the environment
So whose fault is it if you can't find a job? Many of younger generation want to blame society because spent too much to get a worthless degree that they now have to pay off as they agreed to. Nothing is free - somebody has to pay for these things and the answer can not continue to be always someone else. Be responsible for your OWN choices - quit acting like entitled *****.
The incoming administration is going to spend years putting out the dumpster fires intentionally set by the outgoing White House resident so they aren't going to have time to do a lot of things on the official party platform. And combine that with people who are smart enough to know how fragile the US economy is in many ways and who are reluctant to do anything extreme to upset that delicate balance and I think we're in far better shape than we would been with current White House resident's tendency to pick stupid trade wars and cause other mass unpredictability during a time when companies and markets want greater stability.
But yet, we decided to pick Trump, who not only doesn't know how government works (despite being near the end of his term), but managed to go into bankruptcy 6 times, and go into massive debt. This despite inheriting $411 million of his daddy's money, and already having real estate networks set up for him.
Massive debt and a net worth in the billions means he has massive assets as well, people seem to forget that part of the equation.
The incoming administration is going to spend years putting out the dumpster fires intentionally set by the outgoing White House resident so they aren't going to have time to do a lot of things on the official party platform. And combine that with people who are smart enough to know how fragile the US economy is in many ways and who are reluctant to do anything extreme to upset that delicate balance and I think we're in far better shape than we would been with current White House resident's tendency to pick stupid trade wars and cause other mass unpredictability during a time when companies and markets want greater stability.
Trump did not "pick" a trade war. Do you have any idea how ridiculous that notion is?
The trade wars have been going on for decades, courtesy if the Dems and Republicans.
Barring WWIII there will never NOT be a trade war with china. Trump was the first one to stand up for the American people.
Trump did not "pick" a trade war. Do you have any idea how ridiculous that notion is?
The trade wars have been going on for decades, courtesy if the Dems and Republicans.
Barring WWIII there will never NOT be a trade war with china. Trump was the first one to stand up for the American people.
^^^ This. ^^^
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