Business groups lukewarm on Obama’s tax credit, still want tax cuts

So once again, Obama has made attempts to reach out to business and those on the right and surprise, surprise, it’s not enough. They want more. Do these people realize that we’re in a recession and there are limitations to what’s possible? One of these days Democrats are going to learn that there is no pleasing the right. No matter how far to the right Obama moves, it will never be far enough. Never. The end result is wingnut mania, who now have another opportunity to bash Obama and an even more annoyed and alienated left, who continue to wonder whether the administration can ever stand up for them. Somehow the administration believes that pushing back against that remaining 1% will charm the left. It’s fine and it makes sense not to change that position but is it enough to energize supporters?

Tell me again how maintaining the Bush tax cuts for 1% of the population is a “game changer” and makes sense right now? There is zero proof that keeping tax cuts for 1% of the population will provide economic benefit. If anything, it will only worsen the economic pain for everyone else. LA Times:

“He’s not really addressing the big issues,” Brad Benson, president of Squires-Belt Material Co. in San Diego, said of Obama. Benson does welcome the president’s proposal on depreciation costs, which would save businesses $200 billion over two years.

“I think it’s maybe a small step in the right direction, but as a manufacturer, I’m more concerned with the tax-cut issue,” said Benson, whose company supplies drywall and other building supplies for commercial and residential construction.

Mark Zandi, chief economist of Moody’s Analytics, said Obama’s proposal would help the recovery but was not “a game changer.”


An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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