Posted on 01/12/2010 2:32:03 PM PST by maddog55
U.S. Chamber of Commerce President Tom Donohue warned the U.S. faces a double-dip recession because of the taxes and regulations under consideration by the Democratic Congress and President Barack Obama.
Congress, the administration and states must recognize that our weak economy simply could not sustain all the new taxes, regulations and mandates now under consideration. Donohue said the lawmakers should not let former President George W. Bush's tax cuts expire at the end of year and lambasted Democratic efforts on healthcare and financial regulatory reform as well as climate change.
If the tax cuts are allowed to expire, we will likely end up with even bigger deficits and greater economic misery, Donohue said.
Many tax lobbyists expect Congress to extend the cuts for people with lower tax rates, but to allow higher rates to be reimposed on those in the top bracket.
He also faulted Obama and Democratic lawmakers for not doing more to create jobs.
Donohue criticized a separate tax on banks floated by the administration on Monday, and said that the rationale for any tax increases would be increased spending, not lowering huge budget deficits exacerbated by the recession.
We are talking about a massive tax increase in a very weak economy a tax increase whose clearly intended purpose is not to reduce the deficit, but to pay for more spending, he said.
He also promised the Chamber would be more involved in the 2010 midterm election than it has been in any other before, and will hold accountable lawmakers who vote against the group's priorities.
Donohues speech follows a year in which the nations leading business lobbying group consistently butted heads with the Democratic White House, particularly on Obamas keystone issues of healthcare and climate change.
(Excerpt) Read more at thehill.com ...
This is what happens when the Obumbler sucks up to the union thugs and pokes his finger in the eye of the US Chamber of Commerce. The US Chamber is now bringing out the heavy artillery against the Obumbler.
Part of Obammys plan...
The Chamber is a tool of super big business and no friend of the working class business people. They have sold out to the anticompetive wing of business. It was health care that made them break with big government, which then cost them the support of the socialist companies they keep.
Obama is the most anti-business, socialist President of all time.
Probably, although FDR would have given him a good run for our money. No competition on the lack of patriotism front, though --Obama wins hands down.
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