Obama to Chamber: You Exist to Give People Jobs

During his speech to the US Chamber of Commerce on Monday, President Obama told the Chamber members that they exist to provide jobs and benefits to people.  Not to make money.  Not to earn money for their stockholders.  To provide jobs. 

He said in the speech that the government is looking at ways to make America a better place to do business.  One of his proposals is to eliminate the tax credit to businesses for interest payments on debt.  Sounds like a good way to encourage businesses in America.  If you borrow money for your business, the interest you pay will no longer be tax deductible.  Greaaaat. 

Never has it been more clear to me that this guy doesn’t understand the first thing about how businesses operate.  He doesn’t get that if a business is profitable and growing, it will hire more people to meet increased demand.  He doesn’t understand that corporations are accountable to their shareholders, and that if the leadership in a corporation doesn’t make money for them, the stockholders can fire them.  That’s pretty good incentive to perform.  Do your job well or look for another job. 

I even have an example of how the president doesn’t get it.  General Motors had pretty good profits and growth last year.  They still owe the government around $40 billion dollars, but they are being required by the government to pay each employee a bonus of $3,000.  Since the government owns GM right now, they dictate how money is procured and spent, and that money is our money essentially.  At a time when people are still losing their jobs or their homes, the UAW friendly Obama administration is requiring a private company to pay its employees bonuses. 

The Chamber of Commerce’s reception of the Commander in Chief was tepid at best.  A small smattering of applause here and there was all the crowd could muster.  They don’t trust President Obama.  They know that he doesn’t see business as a partner in job creation.  He sees them as the “enemy,” as he said in one of his books.  Obama worked in the private sector for about six months, and recounted this time as being “behind enemy lines.”  Does this sound like a man who wants businesses to be successful?

I cannot believe we have elected a control freak like Obama to the highest office in the land.  This guy wants to punish the producers in our country to the max.  He wants to make sure that government has the final say in who wins and who loses in our economy.  And he’s not on the side of the American people.  If you work for a small business, a large corporation, a company that makes stuff, an oil company, or a pharmaceutical company, you are in his sights.  At least your company is, and that means that by proxy, so are you. 

ONE TERM PRESIDENT.  That’s all I have to say about that. 

PS.  In a recent blog, I covered the tax cut that Obama delivered to us.  I have to amend that post somewhat.  Obama said he did not raise taxes once in two years, that he in fact had cut taxes for 95% of working families.  Unless those working families smoke or go to a tanning bed.  He didn’t raise taxes once.  He raised them twelve times.  So he technically did not lie.  But he did not technically tell the truth either.


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