Connecticut voters show support for candidate with business experience
Linda McMahon is competing for a Senate Seat in Connecticut following Senator Dodd’s retirement from Congress. Her victory in the primary proves that Connecticut residents want an elected official with substantial experience in the private sector. Linda served as the Chief Executive Officer of World Wrestling Entertainment, responsible for expanding the company from a 13-person operation to a corporation with over 500 employees.
Ms. McMahon’s leadership experience in one of America’s most successful small-businesses has influenced her views on economic growth and job creation. She presents a pragmatic and logical approach towards correcting the direction of the failing economy on her campaign website, including preventing scheduled income tax rate increases to maintain 2003-2010 levels, permanently extending the Research and Development Tax Credit, and increasing access to credit for small businesses. These changes will dramatically affect business profits and expenditures, entrepreneurial innovation, and opportunities for expansion.
Extracting funds from the private sector to finance unregulated state and federal spending is both unsustainable and irresponsible. Linda McMahon is “a fiscal conservative who believes common sense business principles are in short supply in Washington. Spending is out of control. Endless deficits, now a record of $1.55 trillion, and mounting federal debt, a record $12.8 trillion, are threatening the American Dream.”
Given her professional experience, Linda McMahon provides a basic, but essential, understanding of how government burdens on financial institutions and private industries in turn impose those burdens on their clients and customers. Following the Obama Administration’s bailout of the auto and insurance industries, President Obama has proposed a tax on banks to collect $120 billion of TARP funds. President Obama lacks the foresight to envision that this tax will only increase the cost for companies and individuals to borrow from the financial sector as banks are going to have to offset this tax by increasing fees of their own.
Candidate McMahon recognizes the importance of establishing a business-friendly environment in Washington through policies that facilitate credit borrowing, reduce taxes, and expand access to international markets through trade. Creating a fair playing field between domestic and international companies is essential in ensuring that American corporations are competitive at home and abroad. Linda McMahon’s policy proposals will restore faith in Washington’s commitment to supporting the business community by eliminating policies that place American companies at a significant disadvantage.
Richard Blumenthal, Linda’s opponent in the Connecticut Senate election, lacks significant business experience. His previous employment as a practicing lawyer and his current position as Attorney General will not convince voters of his knowledge of business practices, the challenges that small-businesses face, and how to best diminish unnecessary burdens on business.
The political success of not only Linda McMahon, but also of Carly Fiorina in California and others like them, demonstrates the American public’s frustration with professional politicians, particularly those that lack any experience or training in the private sector. This inexperience has become painfully apparent in Washington following the Obama Administration’s response to the economic recession. Passage of the stimulus bill, health care reform act, and cap-and-trade legislation, among others, has burdened businesses with excessive regulations and taxes. How Washington could think that these policies would improve the weakened economy is unanswerable, particularly amidst fears that there will be a second “dip” in the recession. Clearly career politicians are too detached from the realities of conducting business that they no longer understand that tax increases and government regulation choke off job creation.
The national unemployment rate and the state of the American economy will be much improved after the success of Linda McMahon and other business-minded politicians at the voting booths in November.