Filed under: Capitalism, Democrat Corruption, Domestic Policy, Law, Politics, Progressivism, Regulation, Socialism, Taxes | Tags: American International Business, The Slowest Recovery Ever, The Weekly Address
Well, the world is aflame, nothing is going well, and President Obama in his weekly address takes on American international corporations who have moved their headquarters overseas. And he proves once again that he does not understand business or the free market at all.
Hi, everybody. Our businesses have now added nearly 10 million new jobs over the past 52 months. The unemployment rate is at its lowest point since September 2008 – the fastest one-year drop in nearly 30 years. 401(k)s are growing, fewer homes are underwater, and for the first time in more than a decade, business leaders around the world have declared that the world’s number one place to invest isn’t China; it’s the United States of America – and our lead is growing.
None of this is an accident. It’s thanks to the resilience and resolve of the American people that our country has recovered faster and come farther than almost any other advanced nation on Earth.
But all those jobs that ave been added— are mostly part-time jobs, because the incentives in ObamaCare made it advisable for businesses to cut their low wage workers back to less than 30 hours a week. They now need to fill the other half of those jobs with more part-time workers. Nobody profits from that. We still have something like 92 million working-age people who have given up looking for work. Obama, in attempting to demonize American international corporations as “un-American” and “not patriotic,” and as “renouncing their citizenship”, demonstrates nothing so much as that he has no understanding of business and how businesses operate nor of the free market.
The slowest recovery from any downturn in history is not due to the resilience and resolve of the American people. Our country has not recovered. Business does not exist to be patriotic, or because everyone loves going to work, but it exists to make a profit. Profit is not a bad word as some lefties think, but a return on investment. If a business cannot turn a profit, they won’t be in business for long. President Obama has been warned over and over that we have the highest corporate taxes in the world, and he needs to lower them to avoid what is happening right now. Obama loves to talk about “fair share,” but no one is obligated to pay more taxes than they have to. I can promise you that Mr. Obama’s accountant takes every possible deduction to which the president is entitled, as do the crony capitalists he hits up for campaign donations. You have noticed that when he takes a trip to the West Coast for a round of fundraisers and golf, he usually sticks in a speech at some college so the trip is not a campaign expense— but an expense for the taxpayers.
“But when some companies cherrypick their taxes, it damages the country’s finances. It adds to the deficit. It makes it harder to invest in the things that will keep America strong, and it sticks you with the tab for what they stash offshore. Right now, a loophole in our tax laws makes this totally legal —and I think that’s totally wrong. You don’t get to pick which rules you play be, or which tax rate you pay, and neither should these companies.” Oh please. Mr. I can’t possibly cut anything out of the budget, nor cut back on my vastly overblown expenses. We have to pretend that if a company legally lowers the taxes they have to pay, since it is legal, it is unpatriotic? That kind of pandering should be beneath you.
I am really sick of this “we are the ones we’ve been waiting for” rhetoric. Is there some way we could make it a requirement that anyone running for the office of president has to have taken at least 3 courses in economics?”
If you want an economy that functions and grows, you have to make it reasonably easy for business to grow and hire and create opportunity. Growth and opportunity are not created by government, but by the free market.
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