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Home Depot co-founder Bernie Marcus makes the case for less government regulation and why Obama should take lessons from former President Clinton on h...
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Mr.
Marcus nice to see -- there.
How are you good I'm -- well -- -- assume I'm very very rich says successful history in business.
You are Republican.
Any written this op -- in which you say that essentially correct me if I'm wrong that President Obama should be more like President Bill Clinton.
-- what you mean by that.
Well you know he crossed the -- across -- the -- means that you when your president of the United States there is just so much you can do.
We have a House of Representatives that we have a senate.
And in order to get anything done in this congress you have to work across lines you don't always have a friendly congress.
But if you don't work with them no legislation is gonna happen.
Unfortunately.
President Obama came in -- from the day he came in the he rather -- communicating with the congress and working across lines he actually attacked congress almost immediately.
-- Clinton did just the opposite he did work across the I'll.
And he accomplished a great deal during his four years.
Their -- things that he did that I don't agree with but obviously.
A one of the things he did was to.
Cut that cut the deficit dramatically.
He he actually got rid of welfare.
The wealthier state they did somebody good things on trade.
And he was generally.
Very very optimistic in his approach to business he worked with the business people.
And he got the support of the there's -- and I believe me I was there I notice it I was a business at the time.
That he tried to help business.
To create the jobs.
This is just totally opposite of what's happening today we have a president that doesn't cross the line.
He's attacked the congress -- for the -- he started he could he be communicate with people in his own party have spoken to members of the of the democratic house and senate.
That it never reached the call from the president so.
He's he's aloof.
He's he's he's going on on a road he's basically campaigning almost from morning till night and and nothing is being accomplished.
With this country without being a budget put this over the years that we've -- it is a disaster for the United States and it nobody you run a business that way Greta.
-- -- isn't that he has not made a fertile environment for business.
And if so why not and how do you compare and contrast -- for -- and did what -- President Bill Clinton make -- sort of -- a fertile environment for small businesses to -- or -- big businesses.
Well I don't know I don't I wish I could answer that you would think.
You would think that but when you know for small businesses especially small businesses.
That that create really if we're gonna create jobs one out of three jobs in America is going to be created by the small business people.
So you would assume that somebody who understood the live business climate and the economics would go out of their way out of his way to make it.
That inviting to open these businesses to get them to create more jobs to -- get them to grow.
Instead we find that -- one he's proposing onerous taxes so that somebody.
You know most of these these companies that this small businesses a subchapter -- -- which means they pay ordinary income.
And he's now talking about raising their taxes by 30%.
You know in -- this is the proposal negate the congress.
We have obamacare which most of these people don't even have -- deal with.
You have somebody regulations I can -- -- it tell you what kind of regulations this from every.
-- EPA from NLRB.
It's almost from every side and is very very different.
This is not what Clinton did I'm not supporting not not tell you that Clinton was a great president he was a great president.
But what he did.
Was work with both sides of -- congress this president doesn't do it and -- so it's unfortunate it's unfortunate the the American people and it's unfortunate for those 50% of people that are out of work today.
Is it isn't part because it -- some sort perverse way as we have go through time we get more congresses and -- administration's -- agencies.
Everyone seems to wanna put his stamp on something which usually means some -- -- some regulation even of its not very good we never get rid of the old ones.
Is it in some way a part of that or is it truly this president doesn't understand the business climate -- is unwilling and is just standing in the way.
No I -- the way I look at it look and this is I'm not changing my tune I.
And believe me I wish he has been successful because we've had a better world today we've had a we'd a had a better economy and everybody would have been better off.
But the truth is he he hadn't expected from him he's never worked in any kind of a job he's never really had a job in his life.
He didn't know anything about financing and lease -- -- now worse than that he's surrounded himself by people who are academics to a college professors.
Who really you know of the there're -- there -- financial gurus none of them understand anything about business.
And the truth is he has more or less people in this in this his cabinet.
Better business experience.
Than any president in the last sixty years so it's indicative.
What what -- -- he doesn't know what to do and he's not getting the advice on what to do so.
It it in the end and rather than reaching out to the business community and finding those people like and help them by the way.
That's why we set up the job creators alliance which is a group of small business people who basically.
Don't have any lobbyists in Washington not spending any money.
And these are the people are really being affected by the economy there -- the real ones who are affected by the regulations.
And it's screaming out for help and -- saying to congress hey before you pass a bill.
Come to us tell us how it's gonna affect our business because it -- affects our business that affects the American people we are the backbone.
A business in the United States that's not happening -- Nobody cares about the small business people.
And and we have this result I mean.
The big get bigger and -- small stay where they are and nobody is creating jobs and that's the worst part of it all nobody is creating jobs.
What it surely is different to be in a classroom and to talk about jobs and talk about Chris.
And it's very different from talking about it than being on the street get your fingernails dirty and actually doing it you know and experience it -- Yeah I agree they ended there should be a discussion was small business -- -- I forgot how to.
Great jobs that we should really include those people in the discussion.
-- What you listen just recently I was on the radio program and I did the debate.
With the editor of a newspaper who was the he was the economic editor of the newspaper was gonna have -- -- today in his life and after awhile.
I heard some things he's saying and I said.
Where did you come from I mean did you ever work for a day your life -- the truth is he never worked that -- is like came at a school.
What is the newspaper -- became an editorial and became the head and yet her writing it's it's that a joke of all time.
He didn't understand business he did understand the dynamics of business and I'm not saying that this is a field.
That is say you know that's that's difficult to understand.
But this is people go through things every single day.
They know what it is to make a payroll.
They understand what it is to have to borrow money they understand when they have when they spend more than they have.
What the economy what -- what happens then what the consequences are.
And we have a government that doesn't understand that if if this government was it was a business it would be bankrupt.
It would be bankrupted have to congress resent the -- that this.
-- for crying out loud.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 1978.
You started -- deep ball very modestly couple stores.
It's grown to something apps and be a huge or 2000 says.
I'm curious in this environment could you start a business and enjoy that kind of success based where we -- terms of rules regulations and our environment -- -- -- I I really don't believe who would have been possible.
And I look back and I think about the environment in 1978.
And for the next fifteen years and then I begin to look at all the onerous things that came down the pike.
Surveys -- and by the way sarbanes Oxley was signed by Republican president so I'm not blaming this on Democrats only its members of congress.
You have that was is that thousands and thousands of pages of regulations.
And when the small business guy has to deal with it like for -- right now with a obamacare the small business people I talk to they don't have a clue what they're gonna do.
If this is not knocked out by the by the federal government half of them don't know what to do how they gonna do it and can't afford.
The expertise that that figure out what to do.
It's it's an -- journey for people who are running -- business today it's difficult they wake up in the morning and they really worry about.
Everything that's going to happen to them rather -- how to serve the customer.
They're word how they didn't have a got to deal with the government that's interfering with their life almost at every step of the way.
And in your article it talks about how pathetic 101000 rules of an implement in the last three years or something extraordinary number from business I was in -- all those rules applied every single business.
But -- -- some feel of sort of affairs Robert businessperson.
Having to comply with the surprises.
And even spending the time -- can't afford a compliance officer.
As in which is the reason for your jobs alliance but it did this sort of the confusions very difficult.
Most -- hey listen Dodd-Frank was written and passed by the congress that you know and a bed in a bad vote.
This still writing the rules yet bureaucrats and so congress -- the rules.
After every rule you know for every page by the way -- something like I think the number was something like twentieth thirty pages so.
Did this thing was 2500 pages 2500 pages it's probably 25000 pages by now and they have written -- yet it's still not being written so you have bureaucrats sitting in a room somewhere that don't have a clue about what they're writing about.
That a writing pages.
That it -- this community forever I mean for the next ten years so.
It's not healthy it's not good it's not good for America forget about what -- Republican -- Democrat if you can't create jobs it's not good for America.
People need to work and be able to take care of their families that's what they need to do.
I don't members of both Republicans -- Democratic Party in that cash analyst into tonight's thanks very much.
Thank you thank you.
