Obama tells entrepreneurs "you didn't build that"

Discussion in 'In the News' started by Iggy, Jul 19, 2012.

  1. jameswilson1

    jameswilson1 New Member

    Haha! Numbers don't lie. We are still in negative territory in terms of jobs numbers since Obama took office. We still have 866,000 FEWER jobs now than when Obama was inaugurated and 270,000 FEWER jobs in the private sector than when Obama was inaugurated. But during the first 30 months of President Ronald Reagan’s economic recovery, which started in December 1982, total U.S. employment increased by 8.9 million jobs.


    The Bureau of Labor Statistics reports that the labor force participation rate dropped to 64.3 percent, the lowest point since 1981. This brings the number of persons not in the labor market to an all time high of 88.4 million, according to Federal Reserve.

    The U.S. economy must add 13 million jobs over the next three years — 362,000 each month — to bring unemployment down to 6 percent. GDP would have to increase at a 4 percent to 5 percent pace.
     
  2. Mighty Quinn

    Mighty Quinn New Member

    I think they're looking for any reason to rise up in righteous indignation.

    America is more business-friendly than ever. Corporations are making record profits. What continues to stymie the economy is not only state and local governments laying off public workers but a lack of demand and low consumer wages. Anybody that cites taxes or regulations isn't being honest or has no idea what they're talking about.

    Obama made a profound point about those who go out of their way to poo-poo the U.S. There's a lot of smart, hard working people out there, that doesn't mean you'll be successful. Its the great "American system" that keeps this country afloat. Recall that recent keynote address where the English teacher tells graduating students "you're not special... [you've been] pampered, cosseted, doted upon, helmeted, bubble wrapped ... feted and fawned over and called sweetie pie." Which is why Obama said it isn't just your individual initiative nor because you're so special. No, we facilitate prosperity by "doing things together." Romney says he agrees with the president but continues this bizarre line of attack. I think Romney is leaving himself open to a populist backlash.
     
  3. Alinoa

    Alinoa New Member

    You mean stifling to the business creators that create jobs in other countries? Right?

    Just want to get a basic understanding of what you term "job creators"

    So, and let me get this straight also, just so I understand where you are coming from.

    So, it's TOTALLY ok that his time at Bain did create job...the largest majority of them at a poverty level.

    And it's TOTALLY ok for Mittens to fire back at Obama for doing the EXACT same thing he did?

    Just want to make sure I totally understand how one is Ok and the other is not.

    they are, after all, the EXACT same thing.
     
  4. LA

    LA Well-Known Member

    Exactly.

    Some folks just don't get it.

    Let them go back-and-forth.

    I'll get the popcorn and drinks.
     
  5. Loki

    Loki Well-Known Member

    I agree, numbers don't lie..

    Obama was also correct when he said that last year’s private job growth was the most in six years and that the manufacturing sector experienced job gains not seen since the 20th century.

    Obama: In the last 22 months, businesses have created more than three million jobs. Last year, they created the most jobs since 2005. American manufacturers are hiring again, creating jobs for the first time since the late 1990s.
    Between February 2010 and December 2011, private sector employment climbed from 106,772,000 to 109,928,000, according to the Bureau of Labor Statistics. That’s an increase of nearly 3.2 million jobs.
    And private sector employment increased by 1.9 million in 2011, going from 108,008,000 in December 2010 to 109,928,000 at the end of 2011. That’s the largest annual increase since 2.31 million jobs were added in 2005.
    There was also a net increase in manufacturing employment in 2010, when 109,000 jobs were added for the year, and 2011, when 225,000 jobs were added. The last time that happened was back in 1997, when the manufacturing sector added 304,000 jobs that year.
     
  6. Mighty Quinn

    Mighty Quinn New Member

    George W. Bush presided over the weakest economic expansion in 50 years. GDP in the final quarter of his administration was the worst in over 70 years. When Obama took office we were hemorrhaging upwards of 700,000 jobs a month. We're finally out of the hole but the economy is still slow.
     
  7. Mighty Quinn

    Mighty Quinn New Member

    Obama's tariffs on Chinese tires and solar panels has been a big boost for manufacturing. I can't recall a more confrontational president when it comes to China.
     
  8. jameswilson1

    jameswilson1 New Member

    :confused:
     
  9. Mighty Quinn

    Mighty Quinn New Member

    [​IMG]

    Not to mention the near-zero interest rates.
     
  10. jameswilson1

    jameswilson1 New Member

    If you look at the companies they own, they are large companies that sell a diverse array of products and services. Just because they own Burger King and the majority of their jobs are minimum wage that is not a bad thing. Romney's job is to help their individual businesses grow. Obama's job as POTUS is to create policies that boost segments of the economy. They are creating a jobs in spite of Obama making it harder for them to hire and expand.
     
  11. Loki

    Loki Well-Known Member

    How exactly is Obama making it harder for businesses to hire and expand?
     
  12. jameswilson1

    jameswilson1 New Member

    Obama does this with the economy and the national debt. You need to analyze these things as a whole. We are not growing at a pace that will bring us out of the economic mess. I'm not trying to sit around and hope that my grandkids children will have jobs when they graduate in 2056. Reagan's policies helped add 8.9 million jobs within his first 2 years. Democrats fiscal policies are terrible when you have a bad economy, but they can work in a good economy. He needs to lower personal income taxes so people can afford to stay in their homes, save money, or invest. He needs to lower corporate taxes slightly so that businesses can start to expand and hire more people. But as long as he continues to demand people to pay more, we'll never go anywhere.
     
  13. Alinoa

    Alinoa New Member

    this.

    its been the tea party segment of congress that has blocked every single attempt obama has made to pass a jobs creations bill.

    The truth of the matter is..Big Corp doesn't want to hire in the US. They outsource all the jobs to people who will do more work for less amount of money.

    Bright light at the end of the tunnel there though.
    We will soon be one of those countries and US corporations will bring the jobs back because we will be willing to work for anything at that point.

    Thats what happens when you got nothing.

    You also got nothing to lose.
     
  14. Mighty Quinn

    Mighty Quinn New Member

    WTF? The tax burden now is the lowest since the 1950s. And truthfully we can't afford it, as evidenced by our debt and deficit. That's why it would be wise to go back to the Clinton rates on the highest earners. But apparently that's "socialism."
     
  15. jameswilson1

    jameswilson1 New Member

    The Congressional Budget Office had already warned that the expiration of the Bush tax rates would push the U.S. into recession in 2013, if we aren’t already in one by the end of the year. This Ernst & Young study focused solely on the impact of raising the tax rates just as Obama proposes, which would increase the rates of the top two tax brackets by 3 percent and 4.6 percent. The top tax rate on ordinary income will rise from 35 percent in 2012 to 40.9 percent, the top tax rate on dividends will rise from 15 percent to 44.7 percent, the report summary states. And the top tax rate on capital gains will rise from 15 percent to 24.7 percent. Needless to say, that will have a dramatic impact on investment and economic performance.

    In the long run, Ernst & Young concludes, the tax hikes will cost more than 700,000 jobs and reduce economic output by 1.3 percent if the cuts go to fuel more government spending, using today’s economy as a measure. Wages would fall by 1.8 percent. This demonstrates the problem with excessive government interventions in markets, which always suppress growth to some degree. We need to find ways to stimulate growth, not suppress it. Obama’s argument that the village needs to confiscate more from those who invest and take risks to provide that growth is exactly the worst prescription possible for our ailing economy – and yet another demonstration that the President has learned nothing about small business or the economy after four years in office.
     
  16. jameswilson1

    jameswilson1 New Member

    The taxes are the lowest they're been because we are still under the Bush tax cuts. Obama's taxes will be much higher if he chooses not to re-instate the Bush taxes.

    And the problem with our debt and deficit is out of control spending and our entitlement programs like Social Security and Medicare. Raising taxes on the wealthy will not come close to solving anything. If he taxed the wealthiest people 100% of their income, it could run government for 141 days...lol!
     
  17. Soulthinker

    Soulthinker Well-Known Member

    Hntr18,thanks for bring that Young Turks video. Fox has distorted Obama's words for several days now. There is a new Romney ad that features only White people. Genk did a good job.
     
  18. jameswilson1

    jameswilson1 New Member

    Big corporations would love to hire here if our administration gave them any incentive to hire here. But instead they tax them into oblivion instead of giving them a break so they can bring in more people. So corporations are forced to keep profits overseas and invest in other places. What CEO wants to outsource overseas?? It's a major pain in the ass for accounting, they have to travel more, and they get ridiculed.
     
  19. andreboba

    andreboba Well-Known Member

    If you can't see that the economic structure of this country has been weighted and rigged to specifically benefit the 1%, you haven't been paying attention.

    The rich can avoid paying even more federal taxes on income and dividends than regular salaried employees and Fortune 500 companies can have record quarterly profits while simultaneously laying off workers and moving production overseas.:smt119

    We've had a 'jobless' recovery more or less for 3 years while the Dow Jones has skyrocketed, once again demonstrating how disconnected what happens on the stock market is removed from the REAL economy; creating JOBS....IN THIS COUNTRY.

    Romney is in favor of lowering taxes for the 1% even more, cutting federal spending on the back of social program spending and medicare while INCREASING defense spending.

    Yeah. That will work.

    This country can't survive without growing the middle class.
    Nothing Mitt Romney has done as an adult in the public or private sector shows he understands this concept.

    The rich have re-written our tax code through the influence of high paid Capitol Hill lobbyists buying off U.S. congressmen for decades, and then a prick like Romney who's never paid more than 20% in federal taxes his entire adult life says he's only doing what's 'legal'.:smt119

    Bullshit.

    Romney is the LAST person this country needs to lead us out of the economic ditch. Voters knew it in the Republican primaries, and now the rest of the country will too very soon.

    Someone give me one legitimate explanation about why Romney shouldn't release his last 10 years of tax returns as most modern Presidential candidates have done, other than he's afraid the American people won't be too sympathetic to learn he pays less in taxes than the cashier at McDonald's, or didn't pay taxes at all in 2009 and it was all 'legal'.:smt109
     
  20. andreboba

    andreboba Well-Known Member

    What corporate taxes have been raised since Obama came into office??
    Another right wing lie.

    Corporations are given tax breaks by the federal government for moving jobs overseas. Obama wants to eliminate this loophole.
     

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