President Obama on business

Truly I am shocked. How is it possible that a survey of investors could find that 77% believe President Obama is anti-business? I suppose they are all racists and greedy so there should be no surprise.

Of course if we look at the Obama Administration policy from a view that is anything but the hardline Left view, the only question is how more investors don’t find President Obama anti-business.

So far the Obama Administration has tried or accomplished in getting legislation enacted that resticts business, and or inserts Government into private companies and industry.

  • The Obama Administration has forced itself into ownership of multiple banks and the auto industry
  • The Obama Administration now chooses leadership of various corporations
  • The Obama Administration dictates the “proper” income of employees of various companies and industries
  • The Obama Administration sought to create the power for the Government to takeover ANY company seen as too big to fail, or important to the economy
  • The Obama Administration has approved legislation that penalizes specific groups of business and individuals, for political gains
  • The Obama Administration has spent 100’s of billions on specific corporations and industries to “stimuluate the economy”, with a net result of causing higher unemployment
  • The Obama Administration has sought to enact multiple new taxes, or increased existing taxes, on industries that affect every aspect of business and invididuals in the nation effectively stunting future job growth

    The list goes on. But in reviewing the list, not one item is a positive for the economy. Take a closer look at the new taxes and rules for banks.

    The Obama Administration is seeking to impose a new tax on the top 50 banks. In addition it is seeking to restrict the growth and size of all banks until the end of time. The reasons are that the banking industry has not paid back the TARP money, and that it was the size of the banks that created the recent financial crisis.

    Now let’s look at reality.

    Of the hundreds of banks that elected, and many forced, to take the TARP 65% have paid back all the funds PLUS interest or additional fees. More than 60% of the top 50 banks have no TARP fund association either because they paid back the money or never took it. Yet these institutions now must pay a tax, forever, because some banks have not yet paid back the TARP money. Then again, the TARP funds never stated a timeline for repayment of the funds. In fact, TARP originally didn’t even have terms for HOW a bank could repay the funds, they had to be made after banks requested it.

    Even with all of that, having a better than 65% return on the TARP money in less than 1 year is an excellent investment. Had the Government not spent trillions, and actually used the TARP money to pay down the debt – as it was stipulated it must in the legislation – it could have improved the economy. But that is not good enough.

    The new regulations for the size of a bank, and the restrictions on how a bank can operate, fly in the face of private business. Rather than allow the markets to decide if an institution is worthy of its funds, the Obama Administration will seek to force business and individuals to seek out lesser financial institutions that may be deemed more risky and less well managed. It will also cause the banking industry to limit their success, and stunt growth – eliminating the potential to employ tens of thousands of people in secure businesses.

    The result will be fewer companies that the Governemtn deems too large to fail. But it is the Government that made random choices of what was too big to fail, not the markets. And it was the Government that helped create even larger financial institutions via mergers and bailouts, while allowing vital and respected companies to completely fail.

    So the net result is that growth and profit are bad. To be successful is to be restricted to a level acceptable to a bueracrat that has likely never worked a day in the industry they are now controling. And to further impede any success, taxes will be doled out to anyone that has become a leader of their industry.

    Having lived in the Soviet Union for a time, I can draw many similarities between these new regulations and those of the former Soviet Union. Similarities that predetermine what is “appropriate growth” and acceptable income. Rules that stagnate business and life. Unless of course someone can identify a business that was a world leading export of the Soviet mindset, besides military weapons sales.

    But it is not just my view of this. Nor just the 77% of those polled. The stock market, with millions of investors, analysts, institutions, and corporations, not to mention nations have determined that this is a bad idea. The stock market has dropped every day since these new regulations have been proposed. The fear of the markets is that America will start to slide into a nation that cannot innovate or grow unless some politician has made a decision based on political party goals.

    When a dozen people tell you that you are wrong, it means there is an opportunity. When millions of people globally tell you that you are wrong, it’s time to rethink what you are doing. Unless you are President Obama and the Democrats. Because millions of people can’t understand business better than the handful of Democrats and the Obama Administration – of whom few have ever held a real job (fewer have done so in the past 20 years).

  • About the Author

    Michael Vass
    Born in 1968, a political commentator for over a decade. Has traveled the U.S. and lived in Moscow and Tsblisi, A former stockbroker and 2014 Congressional candidate. Passionate about politics with emphasis on 1st and 2nd Amendments.

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