The U.S. economy will remain stuck in idle and very few jobs will be created if President Barack Obama is re-elected in November, said Tim Kane, chief economist at the Hudson Institute and founder of the social-networking firm StoryPoint.
Regulations outlined under the Dodd-Frank financial reform law and the president’s healthcare overhaul law have entrepreneurs worrying about compliance and putting off plans to expand and hire.
Higher taxes championed by the president, namely those targeting the wealthy, will eat away at money otherwise going to expand start-up businesses and take on new workers.
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