Election Watch 2012: The Candidates and the Self-Employed


Election Watch 2012: The Candidates and the Self-Employed

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Who will get your vote for president in November?

The NASE believes it is important for our members to know how both candidates have positioned themselves in the self-employed arena. We have evaluated the candidates on three issues: small business, taxes and health care.

The NASE is not endorsing a candidate, but rather providing analysis of the candidates’ positions so that you can be armed with knowledge as you head to the polls.

Neither President Obama nor Gov. Romney have information on their websites directed solely to the small-business or self-employed community. But, both have “Jobs and Economy” platforms. So, we’ve turned to those platforms to glean information about how each candidate will implement policy that could impact the self-employed community.

Gov. Romney’s Platform

Gov. Romney’s “Jobs and Economy” platform speaks to the administrative burden placed on small businesses as it relates to the health care reform law, anticipated increases in taxes (slated for Dec. 31, 2012), and the unchecked authority of the Consumer Financial Protection Bureau established under the Dodd-Frank law. Additionally, Gov. Romney is critical of the administrative burden placed on small business by the Small Business Administration, stating that the cost of adhering to regulations imposed on small business is nearly $1.75 trillion annually. Although critical of the impact of health care costs, increased taxes and the administrative burden of the CFPB and SBA on small business, Gov. Romney’s plan doesn’t offer any concrete ideas for addressing those concerns or suggest any alternate proposals. Read Gov. Romney’s “Believe in America Plan: Mitt Romney’s Plan for Jobs and Economic Growth”. 

President Obama’s Platform

President Obama’s campaign is focused on educating voters about the action he has taken in the past four year as it relates to small business and the self-employed. His campaign touts the Affordable Care Act as a significant legislative accomplishment. However, the small business tax credit to pay for health care premiums does not apply to the self-employed. Further, the exchange option for purchasing health care has not been implemented, and so we are unable to evaluate its effectiveness. The NASE does support the creation of these health insurance markets. President Obama also focuses on his accomplishment of providing 18 different tax cuts for small businesses. The self-employed community benefitted greatly from the Small Business Jobs Act. However, the most impactful tax credit, The Self-Employed Health Insurance Deduction, was a one-year tax credit that expired and hasn’t been renewed since 2010. Read President Obama’s Jobs and Economy Platform and Health Care Platform. 

The NASE Is Asking Questions

While the information provided by both campaigns is vague, the NASE is committed to ensuring both candidates are on the record regarding their position and policy proposals as they relate to the self-employed. Both candidates have received NASE candidate questionnaires asking for detailed explanations about their proposed policy for the self-employed. And we are asking them what they will do in the coming four years to ensure that the 22 million self-employed are supported and encouraged to grow their businesses all across America.

For up-to-date news, polls and general conversation on the 2012 election, visit the NASE Election Watch 2012 page. 

Read this article in PDF form here.

Courtesy of NASE.org