Most prospective Republican voters don’t believe cutting corporate tax rates will help them. “Only 34% … thought they’d be better off if the corporate tax rate were lowered, and only 36% thought such a move would make it easier for young people to get jobs. Only 40% thought they’d be better off if regulations on business were reduced.
“Yet change the phrasing to emphasize small business and a completely different picture emerges. Some 67% of young people in that survey said that ‘keeping taxes low on small businesses’ would make it easier for young people to get jobs. Some 49% thought that ‘reducing regulations on small businesses’ would make it easier for young people to get jobs.”
In focus groups of young aspiring entrepreneurs who voted for Obama, “respondents noted that Republicans were the more ‘pro-business’ party. Yet when asked why they voted Democratic despite their desire to start a business themselves, the responses were clear: ‘I don’t think [the Republicans] would make it easier for small businesses.’ ‘A corporation, maybe, absolutely. A small business?’ ‘The Republican Party would make it really easy to start a business and have a successful business if you already have that capital in your bank account, because you’re not losing that money. But we’re all sitting on our own various debts and our student loans, and the Republican Party isn’t helping us with any of that.’”
To win these voters, the GOP needs to articulate an innovation agenda that genuinely drives entrepreneurship and transparently supports enterprises of all size.