Back in June we blogged about the Business Roundtable’s withering assessment of President Obama’s approach toward American businesses. Things haven’t improved.
To the contrary: resistance to the President’s economic agenda has been spreading throughout the business community, affecting even groups and leaders who supported both Candidate and President Obama. Runaway “stimulus” spending with no discernible results, a new health care bureaucracy that’s already adding to costs, and credit that’s harder to come by now due to financial “reform” have finally taken a toll on employers’ faith in the President. Now that he needs their support to buck up his economic cred ahead of the midterms, they’re balking.
Second thoughts at times can bog down progress, but there are other times when they can be very helpful indeed. We have a case in point right now on Capitol Hill. On January 1, the tax cuts passed in 2001 and 2003 are slated to expire, the death tax will return, and capital gains taxes are going to increase, among other things. These all add up to a massive tax increase headed our way. This doesn’t just sound unpleasant; it is an economic warning. If unheeded, the resulting money grab by Washington threatens to starve job creation in the private sector.
The threat has progressed to where even the Democratic members of Congress, the chief advocates of more spending and higher taxes, have split into two camps.
Ballot Rows C and D are officially spoken for, and business leaders who are key to the 19th District’s economic recovery are throwing their support behind Nan!
Statistically speaking, if your representative in Congress is a Democrat, the odds are you know more about the deceptively named Affordable Care Act (ACA) than your Congressman, given how few of them are known to have bothered to read the thing before falling over themselves to vote for it. Be that as it may, since John Hall is making a day-long show Friday morning and afternoon of recounting the new law’s purported benefits to the District’s businessmen (and its citizens on the same topic at a public forum at Cortlandt’s Hudson Valley Hospital Center at 3:00pm),, we’ve compiled five important facts about the Obama/Pelosi health care law for you to review before Rep. Hall arrives.
The Business Roundtable, a longtime Obama Administration ally, finally announced today what many voters have known for months: President Obama and Nancy Pelosi are creating an “increasingly hostile environment for investment and job creation” that will “harm our ability…to grow private-sector jobs in the US.”
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