Why Big Business Bosses Balk At Barack

[PoliticalNick]

- DB ... But alliteration is my life! Give me alliteration or give me death. A day without alliteration is like a day without a Fat Bastard (the Fat Bastard shiraz is the finest dry red wine under $20).

- Further to the general discussion in this thread as to whether or not the private sector has been condemned to presidential purgatory during Obama's first term comes the following report which reveals that US small business optimism is at its lowest point in modern history, worse even than during the Carter nightmare, following the defeat of Romney and the GOP on November 6th.


News | Obama Quickly Crushing the Hopes of Small Business | FreedomWorks | FreedomConnector

Your continual campaign to discredit President Obama (yes Teddy he is the president and will be for 4 years) is mildly amusing but only due to the fact it apparently ruins every day of your pathetic existence that Obama won and you still think you can change anything by posting your banal rhetoric here. I always get a good chuckle imagining how you must be pulling your hair and throwing tantrums like a child. Get over it Ballsack, the election is over, Obama won, Romney lost, deal with it. Nothing is going to change.

 

[Trex]

A better example would be to analyze Stelmach's actions while the Premier of Alberta... He made the threat to increase royalty rates in the province... Industry responded (almost immediately) by allocating the E&P dollars in other locations (BC and Sask in particular).

Bear in mind that Stelmach didn't actually change the rates, he just threatened to... What Gwyn Morgan is (likely) saying about Obama is similar to the dynamic the AB gvt recently experienced



Dig a little deeper and ask yourself why these business' moved in the first place?

Ed "the turnip" Stelmach most certainly did raise royalty rates in Alberta.
And as a result oil company investment dollars were redirected out of Alberta.
The drilling and service rigs that called Alberta home once again started moving east, west and south of the province.
Because of provincial income losses caused by reductions in both production and capital expenditures within the resource industry "the turnip"
proved how it is possible to reduce income by increasing tax rates on an industry.
If memory serves Stelmachs's government changed the royalty rate no less than 5 times while in power.
Some of the changes were called "temporary holidays" or "investment incentives" but at the end of the day a change in royalties is a change in royalties.
In the end the royalties ended up slightly lower than they originally started out at before "the turnips" tinkering.
The reason that they ended up very slightly lower was that it was felt additional incentives were needed to regain the investment communities trust and in order to encourage the return of drilling iron to the province.
Anyone interested in how increasing business taxes or royalties can actually reduce net tax income on a given sector should take a close look at this interesting period of Alberta's politics.

 

[L Gilbert]

Big business bosses balk at Obama probably because he prefers gov't (you know, the "by the people, for the people" thing) running the country, not big businesses (you know, the "gimme more, gimme bigger" thing). His problem seems to be that he doesn't know how to apply gov't properly.

 

[Tonington]

Tax rates under Obama hit a thirty year low, which apparently wasn't enough for the supply-side trickle down Koolaid drinking morons.

In reality, Harper and Obama are remarkably well aligned on their policies during the recession. They both bailed out the auto industry. They both gave financial aid to the banking sector. They both created infrastructure spending financed by borrowing money.

Yet some partisans want to paint Harper the economist as a great steward, when he essentially did the same things. The major difference is the economies they inherited.

And as for the performance for investors, as I mentioned earlier, the DJIA grew by 58.4% over Obama's time as President. In the same period, Canada's S&P/TSX index has gone from 8628 to 12046. That's 39.6% higher.

 

[gopher]

Alas poor Teddy. We have to give him this painful news:


FOUR MORE YEARS!
FOUR MORE YEARS!
FOUR MORE YEARS!

 

[tay]

The corporate CEOs who have made a high-profile foray into deficit negotiations have themselves been substantially responsible for the size of the deficit they now want closed.

The companies represented by executives working with the Campaign To Fix The Debt have received trillions in federal war contracts, subsidies and bailouts, as well as specialized tax breaks and loopholes that virtually eliminate the companies' tax bills.

The CEOs are part of a campaign run by the Peter Peterson-backed Center for a Responsible Federal Budget, which plans to spend at least $30 million pushing for a deficit reduction deal in the lame-duck session and beyond.

During the past few days, CEOs belonging to what the campaign calls its CEO Fiscal Leadership Council -- most visibly, Goldman Sachs' Lloyd Blankfein and Honeywell's David Cote -- have barnstormed the media, making the case that the only way to cut the deficit is to severely scale back social safety-net programs -- Medicare, Medicaid, and Social Security -- which would disproportionately impact the poor and the elderly.


Many of the companies recommending austerity would be out of business without the heavy federal support they get, including Goldman Sachs and JPMorgan Chase, which both received billions in direct bailout cash, plus billions more indirectly through AIG and other companies taxpayers rescued.

Just three of the companies -- GE, Boeing and Honeywell -- were handed nearly $28 billion last year in federal contracts alone.

As part of their push, they are advocating a "territorial tax system" that would exempt their companies' foreign profits from taxation, netting them about $134 billion in tax savings money that could help pay off the federal budget deficit


more


CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Contracts, Tax Breaks

 

[tay]

Can you imagine anything like this today? It's not just that it's Republicans saluting labor and increased union membership. It's Republicans celebrating expanded Social Security—a program they're fighting tooth and nail to cut today despite its massive popularity. Indeed, today's Republicans are fighting basically every indicator of prosperity and a strong middle class mentioned in this image, and so many more, from safe bridges to well-funded schools to well-maintained sewer systems.

 

[captain morgan]

You really are the epitome of an ideologue, aren't you?

 

[Mowich]

I read this as a supposed document that would be educational. Instead I got more of the
same excuses why people should not cooperate with the duly elected government of the
United States of America. Many forget, Obama is a millionaire who likely has significant
investments in the companies he supposedly hates. Being an amateur is not correct
either he is a lawyer if i am not mistaken.
Business has ruled America for many years, but the fact is it is supposed to be a constitutional
democracy where the collective will of the people through an election that are supposed to set
the agenda. This time the business interests won just as much as anyone else. Many business
leaders supported Obama, in addition notable people like Christie the former governor of Florida
supported Obama, Colin Powell supported Obama. There were others as well.
Obama has to reign in some of these business interests they drove this country to near collapse
with their out of control antics. They behave like economic vultures with the advent of deregulation,
they looked after personal interests by dismantling the factories and sending them to China a total
dictatorship that is foreign to our values. The fact is business in many cases no longer has any
real values or ethics both ways. First they build their factories in countries with no human rights
and secondly they are prepared to sell you shoddy goods devoid of quality. It is time someone said
enough and Obama is the one who finally decided to take some action.
In short Obama is not an amateur and he has financial experts advising him anyway.
He is reigning in the out of control business people who could care less about their employees or
their country for that matter.
Obama is not the problem, he wouldn't have to take action if they behaved themselves
During the Steel crisis in the sixties President Kennedy said American Businessmen are SOB"s
and I guess that still applies.

Years before George Carlin died he spoke often about the state of American democracy. Sad to say, what he stated then is even more true today. I just finished watching an episode of Moyers and Company, a portion of which covered the reasons for the sad state of 'democracy' in the US today. It is well worth a watch for any who wonder why this is so.

Full Show: Big Media

 

[DaSleeper]

Just watched the first ten minutes......will simply listen to the rest while having supper.....like it so far..

 

[Mowich]

Just watched the first ten minutes......will simply listen to the rest while having supper.....like it so far..

Pretty frightening statistics about the 6% who control ALL the media in the states. That interview along with the following one Bill has with Mickey Edwards really lays bare the fallacy of 'democracy' in the US.

 

[DaSleeper]

Pretty frightening statistics about the 6% who control ALL the media in the states. That interview along with the following one Bill has with Mickey Edwards really lays bare the fallacy of 'democracy' in the US.

It was refreshin to see a politician actually answer questions instead of filibustering....