What a Rand Paul White House could mean for businesses
Most members of Congress will tell you that theyre a champion of small business. However, most cant truly empathize, because they havent actually run a small business. Even fewer have started one from scratch.
Sen. Rand Paul is one of the exceptions.
One part politician, one part physician, Paul who this week officially announced his candidacy for president is an ophthalmologist by trade. After completing his residency at Duke University, Paul (the son of former Rep. Ron Paul) worked for two medical groups in Bowling Green, Ky. before starting his own ophthalmology practice in 2007.
Ive been fortunate, Ive been able to enjoy the American Dream, Paul said during a speech declaring his candidacy on Tuesday. I worry, though, that the opportunity and hope are slipping away for our sons and daughters.
Since running for Congress in 2010, Paul has tried to distance himself from what he calls the Washington machine. Despite his family ties and a history working for his fathers campaigns, he describes himself as a political outsider who put his career in medicine on hold (though he still performs pro-bono surgeries) in a bid to fundamentally change Washington.
Welcomed by roaring applause, Sen. Rand Paul (R-Ky.) launched his presidential campaign in Louisville, Ky., by vowing to "take our country back." (AP)
But which changes are on top of his agenda, and how would might they affect employers and entrepreneurs? Moreover, would his experience running his own company affect the way he would run the country?
Here are five things business owners should keep in mind about a potential Rand Paul White House.
He favors flat and lower taxes
If elected, Paul has said he would push for a flat tax rate of 17 percent. His plan would thus replace the current system, with its different rates for different income levels and countless exemptions and breaks, with a single rate for every American. That 17 percent rate would also apply to business taxes.
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What a Rand Paul White House could mean for businesses