This White House has “vilified industries,” complains the Chamber of Commerce. America is burdened with “an anti-business president,” moans The Weekly Standard.
Would that all presidents were this anti-business: according to the St. Louis Federal Reserve, corporate profits hit $1.37 trillion in the first quarter—an all-time high. Businesses are sitting on about $2 trillion in cash reserves. Business spending jumped 20 percent last quarter, and is up by 13 percent against 2009. The Obama administration has dropped taxes for small businesses and big ones alike. Maybe the president could be anti-me for a while. I could use the money.
Ezra Klein, Newsweek
It doesn’t matter how much Obama does for business, or how well business is doing. Republicans have proven that they care nothing about truth, facts or the American people — so as long as conservative voters will buy their lies, they’ll keep spinning Obama as anti-business. This is all a given; the perplexing part is how to get conservative voters to actually look at the facts.
As Ezra Klein stated, “corporate profits hit $1.37 trillion in the first quarter — an all-time high.” Business is doing fine and the GDP continues to rise, but average Americans see no improvement. It’s a jobless recovery, and it’s being sustained by Republican obstruction and subterfuge.
The Republican message is that, although business is sitting on a ton of money, $2 trillion according to Klein — they will not hire until there is more certainty about the future. There’s much truth in this statement, but it falls short of telling the “whole truth,” which includes the fact that it’s the Republicans who are creating the uncertainty, and they’re doing so for their own selfish gains.
They could work with the President toward real solutions, but instead they block anything that can help anyone except the upper 2%. The vast majority of Republicans have voted against extending unemployment benefits, against providing aid to prevent teacher layoffs, against funding COBRA benefits for the unemployed, against providing stimulus to the economy . . . all in the name of fiscal accountability. Yet those same elected officials support extending the Bush tax cuts for the rich, a move that all economists agree will increase the deficit and do very little to stimulate anything but the further concentration of wealth in America.
Conservative voters would be well served to understand that you can support business without completely sacrificing the wellbeing of The People. Being pro-business does not require solidarity with the Republicans who consistently show their total devotion to profits over people. Republican unity against increasing the liability limits for the disaster in the Gulf, against reforming the Wall Street casino, against disclosure of campaign donations . . . against anything that might reduce corporate profits, is not pro-business — it’s pro-mega-business.
Since the Wall Street thieves and gamblers brought down the economy, there have only been 3 initiatives to gain strong Republican support: bailout the banks, cut taxes for the rich, and fund the Military Industrial Complex. If this is where your priorities are, then by all means vote Republican, but do so knowing that you’re supporting only the biggest businesses and the most wealthy people. The real truth is that both parties are pro-business, but the Republicans stand alone in being anti-American-People — well, really only 98% of the people.
Read the Article at Newsweek