Posts Tagged ‘Council on Jobs and Competitiveness’

CEO On Obama’s Own Jobs Council Says Vote For Romney If You Actually Want Any Damn Jobs

November 2, 2012

Ouch, this has got to hurt:

November 1, 20123:53 pm
CEO on Obama Job Council Endorses Romney

Mitt Romney picked up the endorsement of yet another chief executive officer of a major U.S. company—and one who is on President Obama’s Council on Jobs and Competitiveness.

The Wall Street Journal reported Thursday that Intel chief executive officer Paul Otellini has endorsed the Republican nominee.

Despite his presence on the president’s job council, however, Ortellini has criticized the administration in the past pretty strongly, as noted by Human Events. In 2010, the Intel CEO blasted Democrats in Washington at an Aspen Forum event:

Otellini singled out the political state of affairs in Democrat-dominated Washington, saying: “I think this group does not understand what it takes to create jobs. And I think they’re flummoxed by their experiment in Keynesian economics not working.”

Since an unusually sharp downturn accelerated in late 2008, the Obama administration and its allies in the U.S. Congress have enacted trillions in deficit spending they say will create an economic stimulus but have not extended the Bush tax cuts and have pushed to levy extensive new health care and carbon regulations on businesses.

“They’re in a ‘Do’ loop right now trying to figure out what the answer is,” Otellini said.

As a result, he said, “every business in America has a list of more variables than I’ve ever seen in my career.” If variables like capital gains taxes and the R&D tax credit are resolved correctly, jobs will stay here, but if politicians make decisions “the wrong way, people will not invest in the United States. They’ll invest elsewhere.”

The CEO of Obama’s Council on Jobs and Competitiveness has basically come to the realization that the Obama administration don’t have one freaking clue about what they’re doing.  He had a chance to take a look under the hood and see what Obama was saying he was going to do – and Otellini didn’t like the idiocy he saw.

Obama And Liberal Democrat Ally General Electric Paid NO Taxes Last Year And In Fact Was GIVEN Money By Government

March 28, 2011

Before we get to our main story, let’s do a little recent historical review.

First of all, G.E.has been a key Obama ally, and GE CEO Jeffrey Immelt is basically even working for Obama:

Obama Names GE CEO Immelt As Economic Adviser
January 21, 2011

President Obama wants to cast some light on economic success stories in the shadows of a slow recovery. And he is looking to find some more.

On Friday, the president travels to Schenectady, N.Y., birthplace of the General Electric Co., to showcase a new GE deal with India and announce a restructured presidential advisory board to focus on increasing employment and competitiveness.

Obama is naming GE CEO Jeffrey Immelt as the head of a Council on Jobs and Competitiveness. The panel replaces Obama’s Economic Recovery Advisory Board, which had been chaired by former Federal Reserve Chairman Paul Volcker. Obama announced late Thursday that Volcker, as expected, was ending his tenure on the panel.

Then there’s the fact that G.E. has been a MASSIVE beneficiary of the Obama- and Democrat-imposed radical so-called “green” agenda:

Undisclosed NBC Conflict of Interest Again Arises in Annual ‘Green Week’
By Lachlan Markay | November 16, 2010 | 16:47

On Sunday, NBC Universal launched its annual “Green Week,” as part of the company’s “Green is Universal” environmental awareness campaign.

As NBC embarks on yet another week of “environmentally themed programming,” it falls to media watchdogs to point out the massive conflict presented by NBC parent company General Electric’s significant financial interests in the policies “Green Week” indirectly advances.

GE stands to make millions from Democrats’ “clean energy” agenda. The company has invested massive amounts of money in technology that can only be profitable through government intervention or subsidization.

Put these two facts together and what do you get?

Now consider this, stupid, depraved fools (i.e., anyone who calls themselves a “Democrat” and says that evil corporate greed comes from Republicans:

G.E.’s Strategies Let It Avoid Taxes Altogether
By DAVID KOCIENIEWSKI
Published: March 24, 2011

General Electric, the nation’s largest corporation, had a very good year in 2010.

The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States.

Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.

That may be hard to fathom for the millions of American business owners and households now preparing their own returns, but low taxes are nothing new for G.E. The company has been cutting the percentage of its American profits paid to the Internal Revenue Service for years, resulting in a far lower rate than at most multinational companies.

Its extraordinary success is based on an aggressive strategy that mixes fierce lobbying for tax breaks and innovative accounting that enables it to concentrate its profits offshore. G.E.’s giant tax department, led by a bow-tied former Treasury official named John Samuels, is often referred to as the world’s best tax law firm. Indeed, the company’s slogan “Imagination at Work” fits this department well. The team includes former officials not just from the Treasury, but also from the I.R.S. and virtually all the tax-writing committees in Congress.

While General Electric is one of the most skilled at reducing its tax burden, many other companies have become better at this as well. Although the top corporate tax rate in the United States is 35 percent, one of the highest in the world, companies have been increasingly using a maze of shelters, tax credits and subsidies to pay far less.

In a regulatory filing just a week before the Japanese disaster put a spotlight on the company’s nuclear reactor business, G.E. reported that its tax burden was 7.4 percent of its American profits, about a third of the average reported by other American multinationals. Even those figures are overstated, because they include taxes that will be paid only if the company brings its overseas profits back to the United States. With those profits still offshore, G.E. is effectively getting money back.

So we’ve got a giant mega-corporation whose top leadership is clearly in the pocket of the Democrat Party and which has clearly benefitted from the Democrat Party agenda.

And lo and behond, it turns out that not only do these piles of quivering un-American slime at GE not pay taxes, but Obama actually has the naked chutzpah to reach into the American people’s pocket and say, “We owe you this, Mr. Immelt.”

Now, this would be loathsome and indefensible enough it GE was a rightwing corporation.  But understand that Democrats are continually demonizing Republicans as being “the party of corporate greed” when in fact THEY are the real winners at the corporate greed game.

Democrats calling Republicans “corporate shills” is like Yassar Arafat calling Ronald Reagan “anti-Jew”; the label only works if you are an idiot on every level imaginable.

Want more?  Feed on this:

Here’s one among thousands of examples: Incandescent light bulbs are far more convenient and less expensive than compact fluorescent bulbs (CFL) that General Electric now produces. So how can General Electric sell its costly CFLs? They know that Congress has the power to outlaw incandescent light bulbs. General Electric was the prominent lobbyist for outlawing incandescent light bulbs and in 2008 had a $20 million lobbying budget. Also, it should come as no surprise that General Electric is a contributor to global warmers who help convince Congress that incandescent bulbs were destroying the planet.

The greater Congress’ ability to grant favors and take one American’s earnings to give to another American, the greater the value of influencing congressional decision-making. There’s no better influence than money. The generic favor sought is to get Congress, under one ruse or another, to grant a privilege or right to one group of Americans that will be denied another group of Americans.

And guess what?  As soon as Democrats took over Congress that’s exactly what they did: they criminalized incandescent light bulbs and made GE’s mercury-laden CFL bulbs the “Big Brother” alternative.

GE gave $20 million to Democrats.  But don’t worry, Democrats took money right out of your and your children and grandchildren’s pockets to pay back their corporate pals with their usual array of shennanigans.

And the only thing that is more despicable than that is that all the while they’re doing all this, Democrats are constantly demonizing Republicans.

Hypocrisy is the quintessential defining essense of liberalism.  Pure and simple.