Having sunk most of his savings into the venture, it went belly up, he said, partly because of a bad economy but also due to “federal, state and local rules that were all passed with the objective of helping employees, protecting the environment, raising tax dollars for schools, protecting our customers from fire hazards, etc.”
Lamenting his lack of business experience while he was a legislator and presidential contender, McGovern concluded that “ ‘one-size-fits-all’ rules for business ignored the reality of the marketplace.”
As he explained, “setting thresholds for regulatory guidelines at artificial levels -- for example, 50 employees or more, $500,000 in sales -- takes no account of other realities, such as profit margins, labor intensive vs. capital intensive businesses, and local market economics.”
Too many people don't understand the stress businessmen deal with. Most businesses, like the above example, lose money. McGovern's policies were in the abstract, theoretical realm but once he saw the ugly reality he realized just how out of touch and idiotic politicians are.