When I listened to the president's speech to the Chamber of Commerce last Monday, I was impressed with the oratory. I also felt that the speech was full of untruths and double talk. Today, I pulled down a transcript so I could study what he said in his speech.
What I found was that this president is so accomplished at lying to the American people that he can do it without batting an eye. It is also possible that he actually believes his own speeches, even though anyone with a grain of intelligence would know he is deceiving the listener.
The president made a strong point that corporations have over $2 trillion in cash. The implication was that if corporations do not march to his tune, he would tax it away. He also says that profits need to be shared with the workers. Most corporations already share with workers through generous bonuses and benefit plans. Ford just gave bonuses to their hourly workers averaging $5,000 per person. In addition to bonuses, corporations large and small match employee contributions to 401k's and provide benefits such as health care.
On average, corporations provide benefits that can be as much as 40 percent of employee salaries. To imply that corporations are not sharing the wealth is just plain wrong. In addition to employees, wealth also has to be shared with the stockholders if we want continued investment in American businesses.
Investors move their money to countries that offer the best returns. If American companies are not profitable, then money will move overseas to countries with a safe investment environment that are free of excessive taxation and where reasonable profits can be made.
The president wants to get his hands on that $2 trillion in the corporate coffers. He has squandered all of the cash the Federal Reserve can print and left us with a $14 trillion deficit. With the country almost bankrupt, he needs to pillage corporations to fund his initiatives.
Corporate America must invest in his pet projects such as biotechnology and clean energy. He states that he wants corporations to move plants back to the United States and create jobs.
Later in the speech, he tells corporations to move plants overseas. He wants more plants here and more plants there. It sounds like Old Macdonald had a farm, EE-I-EE-I-O. Here a factory, there a factory, everywhere a factory, factory.
If we want companies to expand in the United States, then we have to offer a favorable tax and regulatory environment. The president stated that he wants to lower corporate taxes. He also wants to eliminate tax loopholes so that the government does not lose revenue.
According to the words in his speech, the tax cuts must be budget neutral. If the government lowers one tax but then eliminates tax credits, they are not cutting taxes at all. They are just playing with numbers. Currently, we have the highest corporate taxes in the industrialized world. Balanced budgets, low taxes and a favorable regulatory environment are needed if we want to make the United States a business friendly investment environment.
In an attempt to sound sincere in his desire to put Americans back to work, the president asked businesses to hire workers. Yes, we want more jobs and only a vibrant business community can produce the number of jobs needed to get us out of this recession. Again, his actions do not agree with his words.
He socks businesses with a massive 142 percent increase in the employers' share of unemployment insurance taxes. He tells them to hire out of one side of his mouth, then says I'll slap you with a massive tax increase if you do. (http://www.americanthinker.com/blog/2011/02/obama_wants_to_raise_the_tax...)
On energy, he stated, "We've turned a tangle of fuel economy regulations and pending lawsuits into a single standard that will reduce our dependence on foreign oil."
What this means is that the EPA has or will soon implement a series of regulations to execute the Cap and Trade legislation that failed to pass in congress. These EPA regulations will force many companies to shift their manufacturing overseas or face bankruptcy.
As for reducing dependency on foreign oil, his policies increase the need for buying oil from OPEC countries. On February 3rd Shell oil, for the second year in a row, could not start drilling on a site in Alaska because the EPA has not approved the permits they need. Shell has complied with all of the EPA's requirements and requests, yet the permits are still tied up in bureaucratic red tape. This inaction by the EPA destroyed 800 jobs that are desperately needed in Alaska and ensures that our dependence on foreign oil will continue for many years to come.
In his speech he indicated that he wants to "invest" in education even though our education system is broken. Graduates do not have the skills they need to find and keep a job. Spending more on education will not improve the quality of the graduates. It is just a multibillion dollar sinkhole for taxpayer dollars. He also wants to invest in innovations and infrastructure that he has approved. Yet he vows to veto "any bill larded up with earmarks." This means he gets to buy and play with his "toys" but will take away the ball when congress wants to play the game their way.
The president and congress are acting like children. As a result, We The People suffer from high unemployment and excessive taxation.
This week, I learned that the President Obama wants to control the airwaves. The FCC will now permit the President to participate in actual tests of the Emergency Alert System. In the future, when he declares an emergency, he can go on all of the airwaves just like Hugo Chavez and other dictators. If there is a snowstorm, he can take control of the airwaves.
If Hillary Clinton sneezes or there is a shortage of ice cream, he can speak to us over the radio and on television. All he has to do is declare an emergency and he gets to talk to the people, just like the leaders of any other respectable banana republic. (http://gatewaypundit.rightnetwork.com/2011/02/obama-wants-to-force-his-w...)
In closing, I conclude that our government is like a circus. In ring one farmers are paid not to grow certain crops. In ring two, the unemployed are paid not to work for up to three years. Based on the confusing messages President Obama gave to the Chamber of Commerce I expect that in ring three companies will be paid not to produce.
The bewildering messages as well as anti-business and unconstitutional laws passed by our government testify to the insanity of our politicians. Let us pray we survive to vote them out in 2012.
© 2011 Gordon Smith All Rights Reserved