- 04 December 2007 -
Which Candidate is Good for Small Business?

Determining which presidential candidate is going to be good for small business is akin to taking the SAT exam: lots of questions and uncertain answers. An overview of the platforms for leading Democrat and GOP contenders reveals varying views on how each proposes to create new jobs, break down trade barriers, and stimulate economic growth.

GOP candidate Mike Huckabee has stated that he believes in free but fair trade, pointing out that America is losing jobs because of an uneven, unfair trading arena that needs to be fixed. Sen. John McCain (R-Ariz.) has suggested that the U.S. engage in multilateral, regional, and bilateral efforts to reduce trade barriers, level the playing field, and build effective enforcement of global trading rules.

Sen. Hillary Clinton (D-N.Y.) has stated that trade policies must work for average Americans by raising their standard of living while offering strong protections for workers and the environment. Sen. Barack Obama (D-Ill.) supports trade agreements that lower prices for consumers while opening up fair and competitive markets for the sale of American-made goods and services abroad.

The process of globalization is bringing millions of people into the worldwide economy. Clinton, who believes innovation is the key for creating new jobs and stimulating economic growth, has offered policy proposals to renew the nation’s commitment to research; help create the premier science, engineering, technology, and mathematics workforce; and upgrade innovation infrastructure. McCain has stated that while globalization will not automatically benefit every American, the country must prepare the next generation of workers by making education worthy.

Obama has promised to lead a proactive strategy to ensure those who lose their jobs to globalization have the tools and resources to find other work and share in the benefits of the global marketplace. Huckabee believes globalization, if done right and fairly, gives Americans the equivalent of a big pay raise by allowing us to buy all kinds of things much more inexpensively.

All candidates have expressed their support for small business, in particular, and have offered different ideas for helping these businesses remain solvent and increase their competitive edge. Obama has said he would help small businesses by cutting their health care costs, improving their access to capital, and investing in innovation and development. McCain has pledged to overhaul unemployment insurance and make it a program for retraining, relocating, and assisting workers who have lost their jobs. Clinton has indicated that she would give tax credits to small businesses that provide health care to their workers to help defray their coverage costs.