Posted on 02/26/2009 11:54:48 AM PST by quesney
US Chamber of Commerce just put this out. As far as I can tell, it's the hardest they've come down on Obama thus far. Better late than never.
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Obama Budget Wrong Prescription for Economic Recovery, Says U.S. Chamber Josten: You Don’t Build a House by Blowing Up Its Foundation
WASHINGTON, D.C.—U.S. Chamber of Commerce Executive Vice President for Government Affairs Bruce Josten today issued the following statement on the Obama administration’s proposed budget:
“While we have not seen all the details, the president’s disappointing budget proposal appears to move in exactly the wrong direction. More taxes, heavy-handed regulations, and command-and-control government will not hasten recovery. Instead, it will delay it and do so at a terrible cost to taxpayers, businesses, and working families.
“You don’t build a house by blowing up its foundation. Small businesses and the entrepreneurs who lead them have been the primary drivers of job growth over the past decade. This plan would punish them with higher taxes, resulting in less government revenue, less economic growth, and fewer jobs—not more.
“If the administration wants to spend a record $3.6 trillion and run up a $1.75 trillion deficit this year alone, we need a good return on that money. This budget proposal doesn’t provide it. We strongly support financial aid to our citizens who are hurting now, but a ‘taking from Peter to give to Paul’ strategy won’t work for long. It upsets Peter and doesn’t equip Paul with the tools he needs to become a productive member of society. That’s why we hope that the administration’s plans for energy, infrastructure and education reform—once fleshed out—will help our most disadvantaged citizens to lead more productive and prosperous lives.
“Since the onset of this financial crisis, the U.S. Chamber has said that every proposal must be judged on whether or not it speeds economic recovery. By those measures—and many others—this budget proposal fails. And while we recognize and support more government involvement in the economy to help address our worst economic crisis since the Great Depression, we can’t forget that real growth comes from the doers, dreamers, and risk takers who run America’s millions of small businesses. If we take away their incentives to take risks, grow, and succeed—as this budget does—we will be unnecessarily shooting ourselves in the foot.”
The U.S. Chamber is the world’s largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.
Money quotes:
“More taxes, heavy-handed regulations, and command-and-control government will not hasten recovery. Instead, it will delay it and do so at a terrible cost to taxpayers, businesses, and working families.”
“You don’t build a house by blowing up its foundation.”
Small businesses and the entrepreneurs who lead them have been the primary drivers of job growth over the past decade. This plan would punish them with higher taxes, resulting in less government revenue, less economic growth, and fewer jobs—not more.
A ‘Taking from Peter to give to Paul’ strategy won’t work for long. It upsets Peter and doesn’t equip Paul with the tools he needs to become a productive member of society.
“we can’t forget that real growth comes from the doers, dreamers, and risk takers who run America’s millions of small businesses. If we take away their incentives to take risks, grow, and succeed—as this budget does—we will be unnecessarily shooting ourselves in the foot.”
Gonna need that video clip of the little black kid yelling “that’s racist” here in a minute.
“Command and Control”? More like Obama is doing a “cntl-alt-delete” on the American economy.
Maybe Obama is the New Robin Hood*
Good stuff. And how is the stock market reacting to the Obama policies, another sell off today. The only “grown up” at the table is Ben Bernancke. Destroying incentives for small and large businesses will only keep unemployment higher/longer.
“US Chamber of Commerce just put this out. As far as I can tell, it’s the hardest they’ve come down on Obama thus far. Better late than never.”
Let me know when they oppose Obama on Amnesty......they’ll be up front cheering him on.
Yup.
Yep! AND AMNESTY.
They will keep doing it until Peter steps up and makes them stop
>You don’t build a house by blowing up its foundation. Small businesses and the entrepreneurs who lead them have been the primary drivers of job growth over the past decade. This plan would punish them with higher taxes, resulting in less government revenue, less economic growth, and fewer jobs—not more.
Where’s the giant “I Told You So” signs when you really need them, hey?
Looks like another DOWn day because of Obama and his big mouth and destructive policies. so far, down -83.23 points, and it looks like a rally to the bottom for the rest of the day.
Individual businesses have been sending money to Democrats for years in order to be eaten last by the crocodile. They thought Obama was another Clinton. They did not realize just how socialist he really is. It might be too late, but better late than never. If they start opposing him vigorously, members of Congress could stop him, especially the Blue Dogs.
Obama wants to reduce the value of the deduction for charitable contributions to the group that donates the most to charity on a per capita basis, thereby reducing the amount of such contributions and making charitable organizations more dependent on other sources of cash.
Obama wants to reduce the value of the deduction for mortgage interest to that same group thereby further reducing the demand for, and the value of, higher end homes. And this in the middle of a recession that was precipitated by the bursting of a residential real estate bubble.
Obama wants to give bankruptcy judges the ability to rewrite mortgages, thereby reducing the value of mortgage portfolios held by the very banks we are bailing out, increasing the cost of mortgages to consumers over the long term, and thereby reducing the value of residential real estate even further.
Obama wants to impose a carbon tax that will increase the utility costs of every American household and drive offshore whatever remains of American manufacturing and heavy industry.
Obama wants to remove oil leases that were available from consideration and increase taxes on oil companies, thereby increasing energy prices even further and increasing our dependence on foreign oil.
And the next shoe to drop will be significant increases in the payroll tax via an uncapping of same and possibly an increase in the employer's share.
To do these things in the midst of a recession is so bizarre and yet so internally consistent that one has to conclude that he wants to continue our economic malaise for quite a period of time.
The Wall St. Journal had a whole page ad from Las Vegas Chamber of Commerce inviting the businesses back to party with them because now they realize they will feel the pinch from “big business” of not having their trips there. I couldnt help but marking up that page and faxing it back to them. On it I wrote “ Your state helped put Obama in as President. Now live with it. Tough Luck”.
...and didn’t life a finger for McCain?
Robin Hood stole from the government - Zero is the government. He would be the target of Robin Hood.
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