The Leader's Ledger

Posted by Brian Patrick on

Good morning,

After six months of rising small business optimism, a new NFIB survey shows small business optimism fell in March. The nearly two percentage-point decrease means that small business owners are projecting decreased sales and profits, and a decline in hiring new workers. Small business owners need more opportunity to grow, invest in their businesses and retain and hire new workers. Leader Cantor’s Small Business Tax Cut Act will go directly to the heart of these challenges by giving 22 million hard-working small business owners a 20 percent tax cut that will help them retain and hire new employees. The House will vote on the measure next week and both sides should join together to help free up capital and drive small business job creation.

Today In History: On April 10, 1970, Paul McCartney’s comments were seized upon by the international media as the official announcement signifying the Beatles had broken up.

Birthdays: Steven Seagal, Mandy Moore, John Madden, Amanda Michalka and Chyler Leigh

Here is what’s in today’s Ledger …

State Of Play: NFIB Survey Highlights The Need For Leader Cantor’s 20% Small Business Tax Cut

Danger Zone – Small Business Confidence Drops, Fewer Small Businesses Plan To Hire New Workers. U.S. small business confidence dropped in March for the first time in six months amid widespread pessimism, adding to evidence suggesting that economic growth slowed in the first quarter. The National Federation of Independent Business said on Tuesday its optimism index dropped to 92.5 last month from 94.3 in February. In the NFIB survey, nine of the 10 components fell last month, and while new jobs per firm increased by the most in a year, fewer business owners planned to hire new workers. … "It looks like a replay of 2011, a few months look good early on, then it fades," said William Dunkelberg, NFIB chief economist. "GDP growth in the first quarter is not going to live up to fourth-quarter GDP." Reuters

NFIB – Main Street Jobs Seemed To Come Roaring Back Like A Lion But Ended Up Going Out Like A Lamb. March came in like a lion, with Main Street seeing significant job growth in March-but it appears to have gone out like a lamb, and with no cheer in the forward-looking labor market indicators. What could have been a trend in job growth is more likely a blip," said NFIB Chief Economist Bill Dunkelberg in a statement. "And what looked like the start of a recovery in profits fizzled out." Market Watch

SOLUTION: Leader Cantor’s 20% Small Business Tax Cut Will Provide Small Businesses With The Ability To Retain More Capital To Invest In Their Business, Expand and Create Jobs. Read More HERE

What Are Small Business Owners Saying About Leader Cantor’s Proposal:

• “Any kind of incentive helps us help the community that we serve. With this tax cut, we would be able to offer more products and services, hire additional staff and participate in more events that inspire more customers to visit our area. We have always encouraged local shopping and the use of local products. This will help us keep more money back in the business and ultimately back into the community.” – John Yarnall, Owner, It’s About Thyme, Culpeper, VA

• “We are hoping to expand both our businesses, Lake Anna Winery and Oak Hill Farm and Vineyard. Having additional funds to invest into our business for the purchase of equipment and vines to expand the vineyard would help us achieve our goal to increase production by several thousand cases. With this increase, we will be able to hire additional personnel to sell and promote our wines. We see this as a win-win for us as small business owners and the overall health of the economy. As we grow, we will also generate and return more money back into the economy. During a time when access to additional capital is tough, having the ability to keep some of our own dollars for reinvestment provides us with the opportunity we need to grow.” – Ann & Jeff Heidig, Owners, Lake Anna Winery & Oak Hill Farm & Vineyard, Spotsylvania, VA

State Of Play (2): President Obama, Senate Democrats Continue To Ignore Millions Of Unemployed Americans By Focusing On Tax Hikes, Not Job Creation

Dem Group: 80% Of Independents Say The Priority Should Be On Growth and Opportunity – What House Republicans Are Focused On – Not What President Obama and Senate Democrats Are Focused On. Among voters without a strongly held opinion of either Mr. Romney or Obama, 80 percent said they’d be more likely to support a candidate focused on economic growth and opportunity, while 15 percent said they would choose one emphasizing income inequality, according to a poll released Monday by the centrist Democratic group Third Way. Christian Science-Monitor

Majority Of Independents Also Believe The Economy Should Be Based On Opportunity, Not The Government Dragging Americans Down The Ladder. Asking a similar question, the poll found that 51 percent of so-called swing independents favored a candidate arguing for an economy based on opportunity, while 43 percent opted for one making the case for an economy based on fairness. Christian Science-Monitor

NBC’s First Read Reminds Us What President Obama Is Focused On Today – “Obama agenda: The Buffett Rule (again)”

National Journal: The Buffett Rule Has Nothing To Do With Helping The Nearly 13 Million Unemployed Americans Find A Job. Once you read it, you’ll realize the Buffett Rule has nothing to do with helping you, or 13 million other Americans looking for work as of March, find a job. Voters want overwhelmingly for the presidential election to focus on jobs and the economy. … If the Buffett Rule was a serious pitch to help the jobless, it would deal with one of those main drivers of unemployment. … Instead, it tells America’s job-seekers, Don’t worry, we’re going to make the tax code look more fair to you … it is: a political pitch. National Journal

54% Of Americans Disapprove Of President Obama’s Handling Of The Economy. A majority of those surveyed, 54 percent, continue to disapprove of the president’s handling of the economy and his response to high gasoline prices … Still, two-thirds of those surveyed believe that the country is on the wrong track, the poll found. Politico

Keeping Tabs

STUDY: ObamaCare Will Add Over $340 Billion To The Deficit. President Obama’s landmark health-care initiative, long touted as a means to control costs, will actually add more than $340 billion to the nation’s budget woes over the next decade, according to a new study by a Republican member of the board that oversees Medicare financing. The study is set to be released Tuesday by Charles Blahous, a conservative policy analyst whom Obama approved in 2010 as the GOP trustee for Medicare and Social Security. His analysis challenges the conventional wisdom that the health-care law, which calls for an expensive expansion of coverage for the uninsured beginning in 2014, will nonetheless reduce deficits by raising taxes and cutting payments to Medicare providers. … Does the health-care act worsen the deficit? The answer, I think, is clearly that it does,” Blahous, a senior research fellow at George Mason University’s Mercatus Center, said in an interview. “If one asserts that this law extends the solvency of Medicare, then one is affirming that this law adds to the deficit. Because the expansion of the Medicare trust fund and the creation of the new subsidies together create more spending than existed under prior law.” The Washington Post

The Result Of President Obama’s “None Of The Above” Energy Agenda – Gas Prices Have Doubled, Increasing More On President Obama’s Watch Than They Did Under President Carter. Under the Carter administration, gas prices increased by 103.77 percent. Gas prices since Obama took office have risen by 103.79 percent. No other presidents in recent years have struggled as much with soaring oil prices. Under the Reagan administration, gas prices actually dropped 66 percent. When Bill Clinton was president, gas prices grew by roughly 30 percent, and under both Bush presidencies, gas prices rose by 20 percent. U.S. News

Senate Democrats Continue To Distance Themselves From President Obama’s Keystone Decision, Failed Energy Agenda. U.S. Sen. Mark Pryor, D-Ark., said he will not actively campaign in Arkansas for President Barack Obama during the 2012 general election cycle. Pryor noted his unwillingness to support the Obama, the titular head of the Democratic Party, during the second edition of the The City Wire show, presented by 5News. “Not very active,” Pryor said when asked about his level of support for Obama. … Pryor also reiterated his objection to Obama’s decision [1] in mid-January to refuse construction of the Keystone XL pipeline. … Citing environmental concerns, Obama rejected the pipeline plan. Pryor said during The City Wire show that Keystone is more environmentally friendly than shipping the oil to China. “With all due respect to the environmentalists, I think they are wrong on this,” Pryor said. The City Wire

GOP Health Care Reforms