Absent geopolitical crises, the role of government policy isn't as big as people think in the short run. In the immediate term, the potential to ignite an escalating trade war without really intending to ought to be high on our list of US dangers as should dangers of popping credit bubbles either internationally or here at home.
Austan GoolsbeeIf a lobbyist sets up shop, or a lawyer, in which they're receiving income through what is something like a tax loophole so that it's not counting as corporate income, that is what this is counting as a small business.
Austan GoolsbeeFor policy makers interested in using tax policy to stimulate investments or especially to smooth business cycle fluctuations, the results are not promising.
Austan GoolsbeeThe share of income that small business people are paying in taxes is the lowest it has been in 65 years - since Obama has cut taxes 18 or 22 times for small business.
Austan Goolsbee