NEW STUDY: Pandemic Response Grew Government ‘Barriers to Opportunity’ for Entrepreneurs
From: Pacific Research Institute
Government actions to “help” small businesses in the wake of the COVID-19 pandemic have worsened pre-pandemic government-imposed burdens to entrepreneurship, finds the final paper in the Breaking Down Barriers to Opportunity series released today by the nonpartisan Pacific Research Institute, a California-based, free-market think tank.
“The federal government’s economic pandemic response was wasteful and ineffective, worsening the government-created obstacles to prosperity entrepreneurs faced before the pandemic – such as taxes, regulations and lack of access to credit,” said Dr. Wayne Winegarden, Pacific Research Institute senior fellow in business and economics.
“Promoting Economic Recovery Through Entrepreneurship Not Government” analyzes the impact of the federal government’s COVID-19 relief effort on small businesses.
Winegarden makes the case that the historic increase in the government’s burden on the private sector economy – including $5.9 trillion in newly-authorized federal spending – paves the way for higher future taxes that will diminish the after-tax returns and incentives to start or expand new businesses. Read more.