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5 Ways (Not) To Create Jobs

- May 13, 2011

You’re A President In Debt To Union Cronies And Bent On Government Spending – Here’s How To Keep Your Liberal Base Happy 
At The Cost of American Jobs  

1. TELL COMPANIES WHERE THEY MUST OPERATE AND WHO THEY MUST HIRE

The Arizona Republic: “In An Era Of Anemic Job Growth, The NLRB's Attacks Upon Boeing And The States Will Only Generate Greater Uncertainty And Greater Reluctance By Private Industry To Make The Enormous Investments Necessary To Create Jobs.” (Editorial, “Right-To-Work States Bullied,” The Arizona Republic, 4/27/11)

  • Arizona Republic: “The National Labor Relations Board is making it clear to right-to-work states like Arizona that it does not favor companies moving manufacturing operations out of closed-shop union states.” (Editorial, “Right-To-Work States Bullied,” The Arizona Republic, 4/27/11)

Denver Post: Boeing Has “Already Poured Billions Into The Facilities And Have Hired 1,000 Workers.” “Boeing, a vital U.S. company, wants to build a plant in South Carolina and bring good-paying manufacturing jobs to the state. They've already poured billions into the facilities and have hired 1,000 workers. But the NLRB filed a lawsuit last month to force Boeing back to Washington state, where workers would be represented by a union.” (Editorial, “Killing Jobs In South Carolina,” The Denver Post, 5/2/11)

2. RAISE TAXES ON JOB CREATORS  TO PAY FOR BIG GOVERNMENT SPENDING

“President Barack Obama Told The Nation’s Business Leaders He Wanted To Be Friends. But After Releasing His Budget On Monday, They’re Not Feeling The Love.”  (Chris Frates, “Business Cool To Obama’s Budget,” Politico2/15/11)

  • “The Budget Also Proposes Roughly $300 Billion In New Taxes On Energy Companies, Multinationals And Banks. So Much For The New Detente Between The White House And Business.”  (Editorial, “The Cee Lo Green Budget,” The Wall Street Journal2/15/11)

Obama’s Budget Raises Taxes By $1.6 Trillion, With Businesses Taking A Significant Hit. “However, Obama also would rely heavily on new taxes, to a degree unacknowledged by administration officials in recent days. His budget request calls for well over $1.6 trillion in fresh revenue over the next decade, much of it through higher taxes on the wealthy and businesses.” (Lori Montgomery, “Obama Budget Projects Record $1.6 Trillion Deficit,” The Washington Post,2/14/11)

3. DRAIN CONSUMER SPENDING WITH HIGHER GAS PRICES

Rising Gas Prices Are Changing Consumer Habits And Causing Families To Cut Back On Spending. “The poll found 62 percent of Americans had reduced the amount of driving they did because of gas prices and 68 percent had cut back on other expenses. Nearly half, about 45 percent, had changed their vacation plans to stay closer to home. The rising cost of driving is hitting the U.S. economy. U.S. retail sales rose modestly in March as auto sales plunged and consumers stretched to pay for pricey gasoline.” (John Whitesides, “High Gas Prices Hurting Confidence, Changing Habits,” Reuters, 4/13/11)

12 Percent Of Small Businesses Had To Raise Prices In April, Mostly Due To Rising Energy Costs Since Consumer Demand Is Not Strong. “Another report showed high energy costs are forcing companies to raise prices even though demand is far from robust. A survey of small businesses by the National Federation of Independent Business found 12 percent raised prices in April, up from 9 percent the prior month.” (Lucia Mutikani and Pedro Nicolaci da Costa, “Import, Small Business Data Point To Inflation,” Reuters5/10/11)

Obama’s Anti-Drilling Policies Will Result In A Loss Of 375,000 Barrels Of Oil Per Day This Year. “[T]he Obama administration stopped awarding permits for deep-water drilling until late February. The drilling suspension, along with a new, slower permitting process, will result in the loss this year of about 375,000 barrels of oil a day, according to energy consultancy Wood Mackenzie. That is roughly equivalent to one-third of the production in Libya that remains shut down because of political turmoil there.” (Angel Gonzalez, “Spill's Toll On Oil Output Grows Clearer,” The Wall Street Journal, 4/20/11)

4. MAKE AMERICA LESS COMPETITIVE ON THE WORLD STAGE AND ENCOURAGE OUR COMPETITORS

The Hill: “Study: U.S. Loses Its Competitive Edge During Obama Administration.” (Jay Heflin, “Study: U.S. Loses Its Competitive Edge During Obama Administration,” The Hill’s “On The Money” Blog, 9/10/10)

  • U.S.’ Business Competitiveness Ranking Falls From First Place Due To “High Taxes And Onerous Regulations.” “The World Economic Forum has released a report showing the United States in fourth place. Two years ago, the U.S. was ranked first. … The forum identified high taxes and onerous regulations for dulling the competitive edge of the United States.” (Jay Heflin, “Study: U.S. Loses Its Competitive Edge During Obama Administration,” The Hill’s “On The Money” Blog, 9/10/10)

Obama’s Plan To Tax Multinational Corporations Is “Of Particular Concern” To Some Business Groups Who Believe It Will Hurt U.S. Competitiveness. “Of particular concern to some business groups was the proposal to raise taxes on multinational corporations by $129 billion over the next decade. The president had included the idea in his 2011 budget, but most of it was never enacted. A big-business coalition comprising a number of associations, including the U.S. Chamber of Commerce, suggested the latest proposals would set back the cause of improving U.S. competitiveness.” (John D. McKinnon, “Big Role For Tax Increases Fuels Criticism From Business Groups,” The Wall Street Journal,2/15/11)

At His Press Conference In Brazil, Obama Said He Wants America To Be A Major Foreign Customer Of Brazilian Oil. OBAMA: “In particular, with the new oil finds off Brazil, President Rousseff has said that Brazil wants to be a major supplier of new stable sources of energy, and I’ve told her that the United States wants to be a major customer, which would be a win-win for both our countries.” (President Barack Obama, Remarks At Press Conference, Brasilia, Brazil, 3/19/11)

5. PASS A HEALTH CARE LAW WITH CRUSHING TAXES, MANDATES AND REGULATIONS

Obama Pays For His Government Takeover Of Health Care With Nearly $570 Billion In Job-Destroying Taxes On Small Businesses, Investments And Innovation. (Douglas W. Elmendorf, Letter To Nancy Pelosi, Congressional Budget Office, 3/20/10; “Estimated Revenue Effects Of The Amendment In The Nature Of A Substitute To H.R. 4872: JCX-17-10,” Joint Committee On Taxation, 3/20/10)

“A New Study By Accounting Firm Pricewaterhousecoopers Found That Nearly Half (47 Percent) Of Executives Surveyed Expect The New Healthcare Law To Have A ‘Notable Financial Impact On Their Businesses.’” (Jay Heflin, “Study: Healthcare Reform A Financial Hit To Firms,” The Hill’s “On The Money”Blog, 10/14/10)

Businesses Are Trying To Adjust To ObamaCare And The Tax Hikes Contained In ObamaCare. “One issue troubling executives is adjusting to reform while trying to accommodate for the coming tax hikes included in the new law. ‘It's possible this could create a cash flow issue as CEOs look to continue reinvesting in their business,’ said Ken Esch, a partner in the firm's Private Company Services practice, in prepared remarks.” (Jay Heflin, “Study: Healthcare Reform A Financial Hit To Firms,” The Hill’s “On The Money” Blog, 10/14/10)


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