Is Obama bad for business?
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M$9 Answers
It seems so absurd that people would think President Obama was bad for business that one really has to wonder why. One reason is simply dogmatic hostility to anything Democratic, Liberal, or generally Progressive. I suspect racial bigotry is not far under the surface as well. Particularly among management businessmen however, there is the additional hostility toward any change not instituted by the managers themselves. This is a problem with American business management in general, and it leads to entire companies failing instead of keeping up with the times. The leaders of modern, agile companies support President Obama enthusiastically.
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M$To say that the U.S. Chamber of Commerce is not impressed by the president's policies would be very generous to Obama. As recently as January 12, CoC president Tom Donohue has promised that the Chamber will be involved in mid-term races, and he made it pretty clear that it would not be Democrats who support Obama's policies that they would support. Cap and Trade and other climate agenda issues, along with a "Campaign for Free Enterprise" plan that will create 20 million jobs (imagine that, jobs created by private sector, not by governemnt!) are clear statements that many businesses are strongly opposed to the excessive taxation and regulation that they associate with Obama.
The National Foreign Trade Council, and key Republicans, asked Obama on Thursday when he would put some feet to his State of the Union "urging" concerning trade with Columbia, Panama and South Korea. They asked him when he will be sending a bill to congress on the issue that he and the democrats have been stalling. He said "soon". We will see. Up to this point, there has been no help on these key issues, and what we have now is just talk.
It seems that what might be lacking is input from actual small business owners, and not the bought and paid for type that get invited to sit with Michelle. Business owners like Jay Goltz who owns five businesses in Chicago and says this of the Payroll tax break
---quote---
But I wonder if the senators included any small-business owners in their discussions. I have a hard time believing I’m the only one who would raise this issue. Anyone who has been in business for a while knows that when you throw money at a problem, you frequently end up having the same problem — but less money."
---/quote---
http://boss.blogs.nytimes.com/2010/01/27/why-the-payroll-tax-break-wont-create-jobs/
You can line up experts and examples on both sides from now until the economy finally does come back, which will be when jobs are created (by businesses, not governemnt), and when consumer confidence returns. What you can't do is create and sustain an economy with tax funded initiatives.
As you can see above, many Chamber of Commerce businesses are convinced that Obama's policy is bad for business, and they are ready to continue working against him and his policies. The Foreign Trade sector is in a wait and see mode. They're waiting for those promised bills concerning trade agreements with Columbia, Panama, and South Korea. Was the president serious? Small businesses don't need cash, they need customers. Big business hasn't even crossed my mind. Practically no-one thinks Obama is good for big business, which is a mistake. You can't pick large parts of the economy and vilify them. It won't work, but then, Obama's whole administration seems to run on ideological principals, not practical ones.
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M$
Here are some sources of basic information. Note that the US Chamber of Commerce was founded at the instigation of President Taft, who was responsible for turning the Republican party from one inclusive of progressives to one captive to conservative business interests. The chamber is now a $200 million dollar a year lobbying corporation by its own boasts. The president for the last 13 years is ex-head of the trucking association, one of the most anti-progress, anti-environment, short term view only organizations around.
http://www.uschamber.com/about/management/donohue.htm
http://www.uschamber.com/about/history/default
Local chambers of comerce are of course even more parochial. Here is a page with the listing of members from where I live:
http://www.livingstonparishchamber.org/members.htm
Here is their executive board:
http://www.livingstonparishchamber.org/executiveboard.htm
Four management types from banks, a car dealer, and just one connected to a progressive educational endeavor.
Look up the chamber in your area and see what type of businesses and people are on it. You will see I have a point.
Who are your experts? Please share? Other than yourself, I mean. And do you have any expert source for your assertion they the CoC is what you say they are (again, other than yourself)?
The Chamber of Commerces are far from experts. They represent the least progressive, most static small businesses who oppose almost all change on general principle.
Anyway, I think that if President Obama believes that he is helping the economy, and small business by taxing big businesses he is not aware of how capitalism works. The rich indeed get richer and the poor stay where they are unless they are ambitious.
Corporations and big businesses do not pay taxes. They make more money from services and products, call it the cost of doing business, and then take those profits and use them to pay the taxes so their bottom line, and the promises to their investors do not go down. If the big business pays taxes out of their profits or increases budget to pay for them. The investors would then lose money themselves, and would pull out of their investments, causing big business to begin to fail and in turn they would wish to have their profits still so they would then charge small business and customers more money to keep themselves in business without considering that clients and small business is more than just a number or a profit margin.
As long as President Obama is not made completely aware of how the economy works in the world of free trade and capitalism he will never be the best President for this country. Instead of celebrating successes, he's minimizing them by forcing those who have to pay for all the debts and needs of those who don't.
Anyone can succeed in the USA, but if the President of the United States is ensuring that they do not create their own ambition this country will fail in succeeding.
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M$
What is incoherent? I read it.... If you want smaller businesses and normal people to prosper, you do not do it by making big business pay more taxes.
Why? Because if a rich man has to pay more taxes it is not going to come out of his pocket, it is going to come out of the pocket of those who paid him to get rich. He will charge more for services and products to the little people to pay the extra taxes. He will not lose money in paying more taxes... the little people will.
I hope that clarified things.
That's much clearer. Still quite wrong, but much clearer.
This answer is incoherent. I'm not complaining about it being wrong because I can't tell what it is saying, it's genuinely incoherent.
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M$
I do know, after listening to the entirety of the State of the Union address, that I feel just as good as the day I cast my vote for Obie Wan. (Nickname.) I think he is real. I think he is realistic. I think he is an excellent orator. No BS - the man can speak. From the heart. With humor. And appropriate humility.
And what is the true nature of business? Of enterprise? Ultimately of capitalism? Whatever the idealism of capitalism is, these days. Quit dissin' this man. Do not undermine the fact that he is a human. In the line of fire, he has ideas. Ideas. In a Presidential administration within the past, oh, nine years. Imagine that!
Is he good for business? Yes. If you do not agree, as he mentioned, he is open to any and all ideas!
State of the Union
President Obama
Commerce
United States of America
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M$
Unfortunately the only ideas he is hearing are from those who are like-minded. I agree with you that he has ideas. Some will work, some will not. My problem is not with Obama the man, I did not vote for him but he's there, and I wish he does well because it's *my* country he's trying to run.
I do have problems with some things he said, and he'd have problems with some things I say. I just do not believe that he will hear what we have to say because no one will share it with him. Do we know where the letters come from that he reads every day? They are vetted through the same process that forces all reporters to provide their questions before so that the President and Mr. Gibbs know what they are going to be asked so they have written out and prepared answers.
Yes, he's a good orator. He is not humble, though. He is quite self-assured. He kinda has to be as President. I was a bit offended by two things he said. That the USA needs to be the greatest country (after apologizing for our arrogance to other countries, it seemed hypocritical to me) and calling the Republicans obstructionists when the problem was not them, but the locked doors that kept them OUT of the discussions.
Kate
P.S. I liked that you said "quit dissin' this man" That was great!!! You made me smile. I just truly don't believe that he cares about what I have to say. I've no way to get to him to tell him, even with the internet. What's his e-mail address so I can write to him? Oh, that is probably screened too.
Avelina
www.usanewspapersdir.com
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M$
He's making MORE money... Literally printing more money. That is not how someone does business. They make the money that exists work, they don't produce money out of paper and ink.
I think if I could print money I'd be able to pay my bills, too, but the USA is not even accomplishing THAT goal.
I'm sorry, I have to disagree with you, but wish to do so respectfully.
* Commercial banks and investment firms, in particular, showed a stronger trend in giving more to Republicans, according to the watchdog group. Business groups are also giving more heavily to Republicans. While the U.S. Chamber of Commerce tends to support Republicans.
* Moguls Revolt Against Obama: In both on- and off-the-record conversations, many moguls — who collectively control hundreds of billions, if not trillions of dollars, of the country’s gross domestic product — expressed serious concern about the administration’s motives and openly worrying that its policies will cause sustained damage not just to their consumer-facing businesses, but also to the long-term health of the country.
* Most CEOs contend Obama is bad for business
* Intel (Fortune 500) CEO: Stimulus didn't work
* Verizon (Fortune 500) CEO Ivan Seidenberg -. "By reaching into virtually every sector of economic life, government is injecting uncertainty into the marketplace and making it harder to raise capital and create new businesses," he said. Ironically, The White House identified Seidenberg himself earlier this year as one of four chief executives whom Obama admires
* U.S. Chamber of Commerce president Tom Donohue said the administration's push to overhaul health care, and financial and oil regulations has left companies "demonized."
* J.P Morgan Chase (Fortune 500) CEO Jamie Dimon, has cut off donations to the Democratic party committees and written a check to Mark Kirk, the Illinois Republican seeking Obama's old Senate seat.
* Billionaire real estate and media mogul Mort Zuckerman, said the White House has "done something here that affects everybody's confidence in the attitudes of this administration to the business community and to the economy. They have demonized the business world."
* BP chief Tony Hayward, complained he was "demonized and vilified" in the U.S.
* Democrats have made an attack on major industries an explicit part of their campaign message. While Americans are still fundamentally pro-business. A recent survey commissioned from Benenson Strategy Group, Obama's campaign pollster, found 63% of Americans think "most American companies value their employees and treat them well
* The "Business Roundtable" opposed Obama through a 54-page report outlining pending regulations they believe will stifle growth.
http://money.cnn.com/2010/09/13/news/economy/Big_Business_elections/index.h...
http://www.thedailybeast.com/blogs-and-stories/2010-07-13/media-moguls-skep...
http://money.cnn.com/2010/07/29/news/economy/business_vs_obama.fortune/inde...
http://money.cnn.com/2010/09/14/technology/intel_otellini_interview/index.h...
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M$You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$
I see your point, but you kind of missed the point. Big business that is not failing should not be taxed to death in order to keep small business in business. Big business passes their extra expenses on to the clients and customers to keep themselves profitable and their investors happy.
We cannot blame every big business for the problems of a few. There are a lot more big businesses succeeding than those who are failing.
I don't see that at all. Businesses like stability, and lack of inflation helps stability, from a business perspective. Inflation does not encourage people to buy things, it discourages them because the prices seem higher.
I will tell you my dad nearly lost his 7-year-old successful business in the 70's when inflation skyrocketed. He's a good businessman so he ended up keeping it another 30 years before selling it to retire. But he always had the most trouble during inflationary times: peoples' wages weren't rising as fast as inflation so they didn't have much money to spend. He was in an area where several small towns were within 10 miles of each other, hemmed by pretty good-sized towns with universities 30 miles apart, so a decent population base.
What ended up happening for a year or so was barter. People would trade whatever they had for whatever services they needed. Sure, they still bought necessities like basic groceries and medicine; but they'd fix the neighbor's water heater, and the neighbor would repay them with anything from babysitting to helping fix the roof to even berries from their garden or homemade jam. It made it hard for a lot of small businesses before it was over.
It is a well established economic principle, inflation DOES encourage people to buy things.
"During times of controlled Inflation, people in the past tended to spend, as they feared prices could rise, saving on buying now, rather then paying more later. "
http://ezinearticles.com/?The-Four-Economic-Benefits-of-Inflation&id=2102601
No sources to qualify your claims as being anything more then personal opinion.
Which you didn't even bother to state as a source.
Inflation is non-existent? Have you been grocery shopping lately? How about trying to buy a shirt or shoes? Inflation is ridiculous! Two months ago I could buy good steak for 17.00... NOW that SAME steak is 31.00 That is inflation, I'm afraid to say.
Stock Market is up 30% after it fell over 50% so it is not recovered. Check out last week, it went down every wek.
When people start saying bigot, racist, and dogmatic hostility people stop listening to those who are saying the things. I've no more time to respond to such name calling and inference.
This is regular headline news anyone with an opinion ought to know.
The S&P was 825 Jan 2009, reached 1150 Jan 2010
http://moneycentral.msn.com/investor/charts/chartdl.aspx?symbol=%24INX
The announcement of the 5.9% growth rate the other day is from the BEA itself
http://www.bea.gov/national/index.htm#gdp
Well established? Cite some studies for me to review. That article is itself a speculative blog type opinion. I find it not in the least convincing. Let's see evidence that the number of things bought (not their price, of course) goes up during periods of inflation. I think the number of things will go down, because the prices are higher. But it could be measured; do you have any measurement supporting you?
I shop the same as everyone else. Things at I buy have mostly been going down in price. I bought a blue ray player for 128 that cost 300 to 400 a year or so ago. But anecdotes don't count, it's the average of all products. The average of all products has remained stable.
The stock market fell on Bush's watch, it has climbed since Obama has been President. We are discussing President Obama's effect on business. Since he has been President the stock market has risen about 30%, which is a heck of a lot and is proof that the anti-Obama rhetoric is based on something other than financial facts.
I call them as I see them, if you don't like my opinions that's your problem. But the latest economic results today show a 5.9% growth rate of the GDP. That's really high, and proves my main point which is that President Obama's policies have been good for business.
Non-existent inflation rates are bad for business and the economy. High inflation rates are good for business and bad for the economy. This is basically because inflation encourages people to buy things.
http://www.slideshare.net/arpit105/inflation-good-or-bad