Congress has implied that there is a “cultural” feel to a Hispanic or an African-American or Korean business. The legislation smacks of “soft bigotry” and advances an erroneous notion that all members of the same race or all members of a particular ethnic group share an identical cultural aesthetic. How narrow-minded. How potentially racist.
Few in Congress have experienced, first-hand, the struggles of entrepreneurship and even fewer understand what it takes to be competitive and succeed. The Small Business Jobs legislation had little to do with providing real assistance that could produce measurable results and instead is almost 250 pages of political pork and racial and ethnic condescension.
Many of the kinds of changes that are desperately need, such as freeing up capital or reform of small business government contracting, are tangled up in a proliferation of pork projects and an explosive growth in the size of government. American taxpayers will pay a high cost for legislation of this type with little ability to measure success. The small business community faces many obstacles, but this legislation was not the panacea to those problems.
Generations of entrepreneurs have helped to make this country into a financial and political powerhouse that is the envy of the world. Entrepreneurship is too critical to our nation’s success for congress to wallow in the shallow complacency of narrow-minded, racist assumptions that “cultural appropriateness” is needed to increase small business lending.
Legislation that tries to pigeon-hole the potential of businesses based on ethnic, gender or racial is legislation that Americans don’t need.