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Stop the Whining!

Jun 23, 2010 | By: Mr_Blue | Tags: obama, economic policies, business roundtable

I almost choked on my coffee when I read this article: “Business leaders say Obama’s economic policies stiffle growth”. What a joke! Let me get this straight - they just experienced decades of low taxes plus highly favorable regulatory environment and still didn’t generate jobs (NET LOSS for past 10 yrs) and now they are whining for more of the same. These CEO’s only care about their own economic interests not the health and well-being of the economy for the rest of us.

The Business Roundtable (nice reference to “Knights of the Roundtable”) is a group of CEOs from the top multi-national corporations based in U.S. Of course, the chairman of the Roundtable and who was quoted in the above article, is Ivan Seidenberg, CEO of Verizon. Verizon and other internet service providers are trying to convince the Federal Communications Commission (FCC) to give them more control over the internet which would help their businesses at our expense (in terms of fees and freedom). Anyway.

According to the article the Roundtable had been working with the Obama Administration on various issues including Health Care Reform. But they noticed more and more threats to unchecked and irresponsible behavior. They say the last straw was two pieces of legislation currently pending:

1) In the financial regulatory reform bills currently being discussed in congress there is a provision to would make it easier for shareholders to nominate corporate board members.

LMAO, the CEOs don’t want accountability. Hell, no they don’t want to make it easier for shareholders to nominate board members that would upset the cushy game they got now. A pure example of self-interest and self-preservation.

2) The other would raise taxes on multinational corporations.

Please!

Of course, Business Rountable floats this old threat that Obama’s economic policies threaten investment and job creation. Wait. Hold on one minute. These multi-national corporations have had the lowest tax rates in decades and most favorable regulatory (practically non-existent) environment and they still did NOT generate jobs. In fact, at the end of Bush’s reign of PRO-multi-national corporation terror we had a NET LOSS of jobs.

Feel free to read the Roundtable’s letter to the Obama Administration - it’s here. It reads like a request for more of the same de-regulation and corporate welfare. They would like us to forget that it was some of their own members that caused the crisis we are in today.

Screw them! Maybe, it’s time to tax corporations retained earnings especially since they seem more interested in accumulating more cash and not investing it in jobs.

Good luck.