During an interview on the FOX Business Network’s Risk and Reward with Deirdre Bolton, Home Depot (NYSE:HD) Co-Founder Bernie Marcus blasted 2016 presidential candidate Bernie Sanders’ policy plan, and said he hopes the next president will focus on job creation.
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“What I would do and what I hope happens is that we have a presidential candidate and a president from the Republican Party who can do the things that are necessary in job creation, that hasn’t happened the last seven years,” Marcus said. “We have the lowest amount of people in the job force since Jimmy Carter… and I don’t think it’s good.”
Marcus said the “atmosphere” needs to change, which could help small businesses.
“You have taxes that you have to deal with,” he said. “The small business people that make up 70% of the business in America are paying ordinary taxes. These are the guys that run the small store, the operation, the restaurants, the fast food place, the cleaning places… they’re paying ordinary income and they’re not creating the jobs. They’re not growing their businesses because there’s no sense in growing their businesses.”
He added, “They [small businesses] have a big problem. If they want to grow and they go past 50 employees, they now have to take on ObamaCare and that’s a killer for any business.”
The Home Depot co-founder said fewer small banks are available to help small businesses.
“Small business people can’t borrow from banks anymore because the small banks that used to support small businesses, by the way, that helped me get started in my business, are not going to be there,” Marcus said. “They are falling by the wayside as we speak and the big banks are getting bigger. It’s crazy. The whole thing is crazy.”