Carly Fiorina schools Hillary on the economy in Hillary Clinton Flunks Economics in The Wall Street Journal:
People at the top seem to be doing just fine under the policies she extols. As this newspaper reported last year, in the period 2009-12, 95% of income gains went to the top 1%.
That’s because big government only works for big business, the powerful, the wealthy and the well-connected. Consider the 2010 Dodd-Frank law: Under that legislation passed by a Democrat-led Congress, “too big to fail” banks got even bigger, while 1,500 community banks—the source of half of all loans to local businesses—reportedly have been destroyed. The remaining community banks have had to hire 50% more compliance staff just to keep up with the regulations.
Only big businesses can manage the weight and complexity of today’s regulatory regime. The small businesses that are the real engine of growth—they create two-thirds of new jobs—are being crushed by costly new rules and regulations that they must understand and navigate.
Mrs. Clinton stunned listeners earlier this year when she admitted being “surprised” to learn that small businesses are struggling. Since the Obama tenure began, the Gallup organization reports, America has seen a net total of 70,000 more small businesses closed than startups begun—reversing a growth trend that had lasted a decade.