Posted on 02/26/2009 2:55:58 PM PST by quesney
NAM follows Chamber of Commerce with a first: Criticizing the Messiah for the first time for his bad policies.
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At a time when our country is mired in a severe recession, suffering from rising job losses and a financial system in turmoil, the high taxes and anti-investment provisions proposed in the Administration’s budget plan will stifle our economy’s ability to recover, grow and create jobs. As a strong supporter of the recently-enacted legislation to stimulate economic recovery and growth, we are extremely concerned that the Administration’s proposed budget will take us in exactly the wrong direction.
The benefits of pro-growth tax provisions and those contained in the recently enacted stimulus legislation are dwarfed by major, job-destroying tax increases on thousands of manufacturers of all sizes across all industry sectors.
The NAM supported the temporary stimulus legislation because the targeted government investment and tax relief in the plan will jump start the economy. But it makes no sense to jump start one minute, slam on the brakes the next and then head full-speed into reverse. That’s what today’s budget proposal means for jobs and growth.
Not only would it destroy jobs and impair the recovery, it would further devastate 401k accounts, pensions and other retirement funds.
We are not prepared to give up on our nation’s economic recovery and growth or on the ability of businesses to create quality jobs for American workers. To succeed, though, we need an environment that promotes investment and job creation. The answer is not to impose a massive tax increase on job-creating businesses that will slow down our economic recovery and severely damage the ability of employers to hire new workers.
We recognize that today’s budget blueprint is the first step in a long process. We will continue to review the details of the plan in the coming days. The manufacturing economy and our 12 million-plus workers and their families have much to lose if the budget plan as released today is enacted into law.
Did business groups just suddenly wake up today?
When will the GOP?
Stifle the economy? Of course, that’s the intended goal of BHO’s budget and this monstrous stimulus bill.
we need these companies to go on strike.
They can start nationalizing them next. No sarcasm.
He got you to support Porkulus first before he let you know he intended to screw you silly in his budget. Fools.
Hey Einsteins, didja think about this before the election? Don’t recall your caring that much then, but I may be wrong...
WOW!
Actually the richest folk in America, otherwise known as the “Elites”, that own much, if not all, of the media are to blame for this, it’s just too bad that they will not see the same amount sufferage as the rest of us Peons, and Hey, NAM, welKome to peasant status, soon we will be all equally screwed. Now that would be a ‘change’. Option number 2 is to fight against it. There has never been a better time to do just that, the MFR base in this country is on its last legs, some folk are starting to realize that the new admin is by far worse than ANY admin in history, we’ll see.
But similar products made in countries without Cap and Trade will not have
this artificial energy tax in their cost. So, in addition to a unit cost
labor disadvantage , US companies will now face an energy cost disadvantage
when bidding for sales contracts. The natural response by US-based
companies will be to send manufacturing capacity to where they are not
burdened by C & T. bye bye US jobs, in droves.
Nobody ever talks about the effect that C & T will have on new business
formation. Present business in general don't need to pay a tax until they
have a profit. Anyone setting up a business that will consume energy (like
a pottery kiln or heat-treating company) will have to buy sufficient credits
from firms already in the business to cover their start-up. Some kinds of
businesses will never be able to start in the US anymore. No more new steel
mills, not a single new foundry, for example. Moreover, no more expansion
of existing firms. Zero new jobs, in what have traditionally been blue
collar, union shops.
Long ago, US pollution laws drove some activities out of the country. For
example, there are no lead smelters in the country. We may be close to the
day when no automotive batteries are made by a US worker. Yet we fret about
the decline in manufacturing jobs, as if some force from Mars was at fault.
Not from Mars, but from Washington.
The only way to compensate for this is that a tariff will be levied on
imported products to remove the cost advantage. This will tend to trigger
world trade restrictions to retaliate. Those presently in charge of policy
could easily repeat the same mistakes that lead to the Great Depression:
higher taxes and restrains on world trade.
So, we deliberately force jobs to leave the country and we drive up the
level of social spending by government. This is only a recipe for decreased
individual and collective prosperity. When coupled with government policy
that will increase dependency and boost the share of our economy that
government consumes to the levels of Europe, the US will descend to
European-like economic performance. Like about zero growth, at best.
The present administration has proposed a tax policy that will eliminate
income taxes for 49% of the population. Our government has now matured into
what libertarians call Leviathan, a parasitic beast that only exists for the
power it brings to those who hold its reigns. Its appetite is truly
insatiable, for if you took the entire income of the top 2% of all
taxpayers, it would still not be enough money to balance the proposed
federal budget.
Post 2, interesting comment, sir.
Is it stifle the economy or obliterate it?
Obama and the Liberals don’t care. They will destroy all business because in their minds only the Government can fix all that is wrong in the world...
We are so screwed....Marxism enabled by phoney crisis scenarios....
Looks like their chikunz, are comin’ hooamme to ROOooosssttah!
Too bad, NAM (and Amcham) - the majority of Americans love him...they voted for this.
Who is John Galt?
Obliterate it.
We’re having a Zimbabwe-at-the-eviction-of-the-white-farmers moment, but without having to physically evict anybody in order to destroy the people who produce or trade.
This is a legal coup, and they’re taking over the means of production and the financial system, too. All legally. All in the space of a few short weeks.
It is stifle. If obliterated the codependencies that are our economy would collapse. Grasping power requires networks. Absent the conditioning, do you think any free citizen could be talked into giving their hard earned effort up to the whim in DC? Independently. Just a thought.
You're wrong.
What’s a GOP?
Obama’s class warfare on the “rich” will discourage private capital investments (aka capitalism), increase unemployment, and decrease tax revenues. The Socialists (aka Democrats) continue to ignore the lessons of history, in favor of their outdated ideology. They would have been right at home in the former USSR.
Meanwhile, the Republicans are weak, leaderless, Fake Capitalists, who roar like mice.
Re#16 If so, I stand corrected. What I can’t understand is why all of these obvious targets did not go all out with 527s beyond $ to the RNC and candidates. I know they could not match the $400 million of the unions but had they spent much, the presstitutes would have made hay of it. I don’t recall seeing anything on it (or from other business groups)...
Either way, at the rate he’s going, he’ll be out the door in 4 years. Only pride would make someone vote for him after witnessing the current and future damage to our country.
Out the door and then what?
Will the GOP be ready?
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