Well…as promised, I have to comment on the op-ed by Nolan Finley in the Detroit News today, in which he asserts that Obama is directing a “War on Business” since he wants to revise how corporations are taxed and regulated, and how trade is conducted. And the only evidence this guy presents is a “report” that was cooked up by some group called the Business Roundtable as a response to the imagined slight they felt when they met with Obama and he didn’t roll over and give them everything they wanted a la the Bushies. He then goes on to cite 5 areas that the righties and their business cronies are so concerned about: taxes (go figure), financial regulation, trade, energy, and healthcare. I think I’ll respond in that same format; paraphrasing his words and then giving my response.
Taxes. His take..we should cut corporate taxes so they will invest more here since we have a higher corporate tax rate than other countries. Mine…you have got to be kidding me….we may have a tax rate that is higher but look at the actual taxes paid and you see a different story since the repubs built in so many loopholes that only a company with a really stupid accounting firm pays their full tax bill. Disingenious Nolan.
Financial Regulation. His take…we re-regulate the financial industry since it will cost companies 5-6 billion dollars and maybe 120K jobs. Mine…ha, ha, ha, ha….again, and you have got to be kidding me! Not regulate the guys that cost the economy 8 million jobs and trillions of dollars? Just because it may cost them some money and we may lose some financial industry parasites? Take a look at Canada and what has happened there since they were NOT taken in by the calls for deregulation of their financial industry….much less losses in both jobs and money. Read a little about your neighbors across the river, Nolan.
Trade. His…we need more agreements like Nafta or we will lose jobs to our competitors. Mine….I can’t even laugh about this anymore. Nafta started the wholesale loss of jobs in this country and now he wants more of the same? Just so his business buddies can ship more jobs to low wage countries like China who then use currency and tariff manipulation to ensure we can’t sell to them?
Energy and environment. His take…limits on carbon emissions that are proposed will send business elsewhere. Mine…these are proposed regulations that are in the talking stages but the same thing was said when the first smog regulations were put into place for cars and when the first CAFE standards for fuel mileage were imposed. That worked out pretty well…for both business and regular people.
Health care. His take (or I should say business’s take) is that the new regs will cause uncertainty and change. Mine…I sure hope so..try being a 56 year old who needs to buy health insurance…you can’t unless you want to pay 1,200 to 2,000 dollars a month.
He then finishes with the Republican talking point that we need to do something about the deficit; well, where the hell were you, Nolan, when your repub buddies were taking the surplus Bush was given and then starting two wars you didn’t pay for using accounting tricks and then rewarding the rich for being rich with those massive tax cuts that did nothing for the economy? If you are so concerned about deficits, then you will support letting the Bush tax cuts expire. Do you even realize that what your are proposing (cutting spending during a recession/depression) was tried in the 30′s? Didn’t work then.
You seem to think that we all need to do what rep Joe Barton did last week: apologize to business and ask “pretty please” will you let us help you make obscene profits while telling the American middle class to go to hell. Geez….