Obama shows he is the candidate who better understands the economy

[NAKED N00B]

When some people question why I would challenge his Bain record, the point I’ve made there in the past is, if you’re a head of a large private equity firm or hedge fund, your job is to make money. It’s not to create jobs. It’s not even to create a successful business – it’s to make sure that you’re maximizing returns for your investor. Now that’s appropriate. That’s part of the American way. That’s part of the system. But that doesn’t necessarily make you qualified to think about the economy as a whole, because as president, my job is to think about the workers. My job is to think about communities, where jobs have been outsourced.

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Unfortunately, the Republicans think that a national economy is a business and can't understand or don't want to understand why the differences are so important.

 

[Prof. Peabody]

Yep, the outsourcer in chief sure does understand the economy.........

After three and a half years of President Obama's economic policies, 23.4 million Americans are either unemployed or underemployed. Despite his rhetoric, the President has doled out American taxpayer dollars that all too often create jobs overseas instead of for Americans ready, able, and desperate for work. The Energy Department admitted that 80 percent of some green energy programs -- including $2.3 billion in manufacturing tax credits -- benefitted foreign firms employing workers in China, South Korea, Spain, and other countries. The federal government spent nearly $2 billion in stimulus money on wind power projects, but almost 80 percent of the money went to foreign manufacturers, financing an estimated 6,000 jobs overseas. Foreign-owned manufacturers built 1,219 of the 1,807 turbines erected on 28 wind farms. Just weeks before the Department of Energy finalized a $1.2 billion loan guarantee for solar company SunPower, the company announced plans to open a new manufacturing facility in Mexico instead of in the United States. Vice President Biden applauded the Administration's $529 million loan guarantee to Fisker for its potential to generate thousands of American manufacturing jobs. Instead, the company created just 500 jobs, in Finland. The Obama Energy Department gave $3.1 billion in loans to First Solar, which recently admitted that it employs more workers overseas than in the United States. President Obama and Vice President Biden personally appeared at the groundbreaking of plants of two electric car battery companies that received a combined $300 million in federal stimulus dollars. Largely owned by Koreans, both businesses purchased Korean equipment and supplies, contracted with at least 11 Asian firms to perform construction work, and filled many sought-after jobs with Korean nationals. The Administration doled out more than $7 million in federal stimulus funds to four Oregon forestry firms, which promptly hired 254 foreign nationals to do the work. President Obama loaned $2 billion to Brazil’s state-owned oil company, Petrobras, to finance oil exploration off the coast of Rio de Janeiro, inexplicably choosing to spend taxpayer money to support Brazilian, not American, energy jobs. One analyst estimated that job losses from the Obama Administration's six-month moratorium on deep water drilling in the Gulf of Mexico would cost 19,000 American jobs. The Obama Administration itself projected its deepwater drilling moratorium would destroy 23,000 jobs, then implemented the policy anyway. The federal government gave one of California’s largest utilities a $337 million loan guarantee to build a solar plant in Arizona. The company will use 800,000 solar panels manufactured by China’s Suntech Power. A federal stimulus grant for $817,000 to install television monitors on buses in Santa Clarita, California went to a New Zealand company, despite a qualified local contractor applying for the contract. Latest Posts - Home - United States Senate Republican Policy Committee

....how to ship it overseas.

 

[Phoenix]

Bazzinga!!

 

[Bigfoot 88]

I don't think either of them or experts in economics, regardless of their ideological bent. What's more important is to see who their advisers are.

 

[Fishstyx]

So if thats the case, Obama's experience as a community organizer shows all he knows is how to make more and more people dependent on the government teat. He certainly demonstrated his expertise in that area over the last 3.5 years.

 

[apdst]

link


Unfortunately, the Republicans think that a national economy is a business and can't understand or don't want to understand why the differences are so important.

How about you explain it to us why it's ok to bankrupt the government. For the life of me, I can't imagine why that would be ok.

 

[code1211]

link


Unfortunately, the Republicans think that a national economy is a business and can't understand or don't want to understand why the differences are so important.

Under Obama's enlightened leadership, 3.5 million fewer Americans are working today than were working this date 4 years ago.

We know for a rock solid fact that obama is a loser with no effective plans or ideas. We know for a fact that every enterprise mitt has led has been a success.

 

[OpportunityCost]

Obama doesnt understand that his job isnt to make jobs, its to create an environment in which the market can create jobs. Hes shown he doesnt understand that at all.

 

[Redress]

Yep, the outsourcer in chief sure does understand the economy......... ....how to ship it overseas.

LoLz @ sourcing the RNC....

 

[Hatuey]

Obama doesnt understand that his job isnt to make jobs, its to create an environment in which the market can create jobs. Hes shown he doesnt understand that at all.

Hmmm... Okay here:

Public Citizen Climate and Energy

ExxonMobil: $158.5 billion
Shell: $108.5 billion
BP: $89.2 billion
ChevronTexaco: $60.9 billion
ConocoPhillips: $46.9 billion

Fortune 500 companies have record profits of $825 billion in 2011 | The Raw Story

The 500 largest US companies piled up record profits last year, despite a lackluster economy, and energy giant ExxonMobil ousted Wal-Mart as the biggest revenue maker, Fortune magazine said Monday.

The combined earnings of the Fortune 500 corporations rose 16 percent from 2010 to a record high of $825 billion in 2011, the magazine said.


Raw Story (Fortune 500 companies have record profits of $825 billion in 2011 | The Raw Story)

http://www.nytimes.com/2010/11/24/business/economy/24econ.html

American businesses earned profits at an annual rate of $1.659 trillion in the third quarter, ​

according to a Commerce Department report

released Tuesday. That is the highest figure recorded since the government began keeping track over 60 years ago, at least in nominal or noninflation-adjusted terms.​

Companies near record profits amid high unemployment | The Raw Story

NEW YORK — Major US companies are packing away record profits even as the economy falters, unemployment remains high and the debt-ceiling crisis has shaken confidence in the country, analysts said.In July, corporate giants such as 3M, Caterpillar, Goodyear, Microsoft and Apple reported all-time high revenues in the second quarter of 2011, though the stock market still slumped amid fears of an economic slowdown and a possible government default.Of the companies in the S&P 500 list of large-cap firms which have reported their quarterly earnings to date, 72 percent have beaten analysts’ forecasts, according to Standard & Poor’s analyst Howard Silverblatt.Raw Story (Companies near record profits amid high unemployment | The Raw Story)​

Fortune 500 companies are posting record profits. Actually, American companies in general are posting record profit. Seems as if the "environment" is better than ever. Where is the job creation by the free market?

Oh wait... I bet you're going to blame the unions now? Yes, that's what you're going to do. You're going to blame 11% of the country's workers for all the country's ills.

 

[OpportunityCost]

Hmmm... Okay here:

Public Citizen Climate and Energy



Fortune 500 companies have record profits of $825 billion in 2011 | The Raw Story



http://www.nytimes.com/2010/11/24/business/economy/24econ.html



Companies near record profits amid high unemployment | The Raw Story



Fortune 500 companies are posting record profits. Actually, American companies in general are posting record profit. Seems as if the "environment" is better than ever. Where is the job creation by the free market?

Oh wait... I bet you're going to blame the unions now? Yes, that's what you're going to do. You're going to blame 11% of the country's workers for all the country's ills.

How much of that profit is international?

What would make you think that companies that Obama has been demonizing and threatening with tax increases and increased regulation would even consider hiring expansion when their legs could get cut out from under them at any time? They also pay the highest tax rates in corporate America.

The regulatory and tax environment is anyone's guess right now. Hatuey, you arent an idiot, you know what Im saying is true. The only growth going on right now is near shale oil areas, and thats because the long term profit potential is huge....IF the government doesnt regulate it to death via the EPA.

 

[Redress]

How much of that profit is international?

What would make you think that companies that Obama has been demonizing and threatening with tax increases and increased regulation would even consider hiring expansion when their legs could get cut out from under them at any time? They also pay the highest tax rates in corporate America.

The regulatory and tax environment is anyone's guess right now. Hatuey, you arent an idiot, you know what Im saying is true. The only growth going on right now is near shale oil areas, and thats because the long term profit potential is huge....IF the government doesnt regulate it to death via the EPA.

Why are you asking him to document your points?

 

[Born Free]

Fortune 500 companies are posting record profits. Actually, American companies in general are posting record profit. Seems as if the "environment" is better than ever. Where is the job creation by the free market?

Oh wait... I bet you're going to blame the unions now? Yes, that's what you're going to do. You're going to blame 11% of the country's workers for all the country's ills.

Posting record profits, companies are not spending, they are not growing, they are not hiring, they are hording cash. The GDP is an anemic 1.9% that is not growth, that is hunkering down with a work force that is lean, thus they are able to survive. There is no job creation by the free market, because of your loved Obama killing companies job creation with Obamacare, more and more regulation, high taxes and the threat of even higher taxes, Obama's EPA is a job killing machine all it's own. And you wonder why businesses are in hiding.

 

[code1211]

link


Unfortunately, the Republicans think that a national economy is a business and can't understand or don't want to understand why the differences are so important.

Just to be clear, you said that obama "showed". He did not show. He said. He says lots of things and nothing ever gets any better.

The only way to show what you say he is showing is to actually SHOW improvement. Right now, the % of people who are unemployed, underemployed or have given up looking for for is up around 15%. He has shown that he as good at this as Hoover.

 

[code1211]

Hmmm... Okay here:

Public Citizen Climate and Energy






Fortune 500 companies have record profits of $825 billion in 2011 | The Raw Story



http://www.nytimes.com/2010/11/24/business/economy/24econ.html



Companies near record profits amid high unemployment | The Raw Story



Fortune 500 companies are posting record profits. Actually, American companies in general are posting record profit. Seems as if the "environment" is better than ever. Where is the job creation by the free market?

Oh wait... I bet you're going to blame the unions now? Yes, that's what you're going to do. You're going to blame 11% of the country's workers for all the country's ills.

Most new jobs are not created by the Fortune 500.

 

[OpportunityCost]

Why are you asking him to document your points?

Why cant he post an unbiased source? Oh wait its a liberal source so its all good to you.

Exxon is kinda sorry it made $11B this quarter - Business - Oil & energy - NBCNews.com

He said Exxon pays more taxes than any other company in the Standard & Poor's 500 index — $59 billion in the United States over the past five years.

After taxes, the company earned $41 billion from U.S. operations during that period.

Exxon noted that only 6 percent of its profit came from refining and selling gas in the United States. Other parts of its business, like selling oil and natural gas overseas, accounted for much more.

As oil company profits approach levels of three years ago, when gas prices last spiked in the United States, the industry is fighting a renewed push from President Barack Obama and Democrats to end its $4 billion a year in taxpayer subsidies.

This week, the industry's lobbying group touted the 9.2 million jobs that depend on Big Oil and rolled out a study showing that oil and gas stocks are excellent investments for public pension plans.

Gee, why arent they expanding hiring when the President is talking about hitting them for 4 billion MORE in taxes per year?
I asked him because its similar to cross examination. He posted something that tells about half the story. I feel like he should tell both halves, if hes intellectually honest.

 

[Μολὼν λαβέ]

I don't think either of them or experts in economics, regardless of their ideological bent. What's more important is to see who their advisers are.

We know about Obama's. Next...

 

[Hatuey]

How much of that profit is international?

Considering we're the world's biggest consumer's, I don't know. You tell me? Actually, explain the relevance?

What would make you think that companies that Obama has been demonizing and threatening with tax increases and increased regulation would even consider hiring expansion when their legs could get cut out from under them at any time? They also pay the highest tax rates in corporate America.

The regulatory and tax environment is anyone's guess right now. Hatuey, you arent an idiot, you know what Im saying is true. The only growth going on right now is near shale oil areas, and thats because the long term profit potential is huge....IF the government doesnt regulate it to death via the EPA.

Ummm only growth? I just showed you that Fortune 500 companies, irrelevant of their field, are posting record profits in the current environment and are STILL not creating new job opportunities for the people who actually consume most of their products.

 

[AdamT]

Posting record profits, companies are not spending, they are not growing, they are not hiring, they are hording cash. The GDP is an anemic 1.9% that is not growth, that is hunkering down with a work force that is lean, thus they are able to survive. There is no job creation by the free market, because of your loved Obama killing companies job creation with Obamacare, more and more regulation, high taxes and the threat of even higher taxes, Obama's EPA is a job killing machine all it's own. And you wonder why businesses are in hiding.

Last time I checked Obama actually proposed LOWERING the corporate tax rate, but at least you finally got the GDP figure right. :thumbs:

 

[Phoenix]

Last time I checked Obama actually proposed LOWERING the corporate tax rate, but at least you finally got the GDP figure right. :thumbs:

and what about the regulations, the Obamacare, Small companies that pay at a individual rate, did you forget about all that?

 

[AdamT]

and what about the regulations, the Obamacare, Small companies that pay at a individual rate, did you forget about all that?

Small companies that pay at an individual rate? What do you mean?

 

[TurtleDude]

and what about the regulations, the Obamacare, Small companies that pay at a individual rate, did you forget about all that?

its not part of the talking points Obama2012 sends out to its minions

 

[Phoenix]

Small companies that pay at an individual rate? What do you mean?

Many "small" businesses don't pay a corporate tax rate they pay at the individual (the owner's or owners) tax rate. Raising the tax rate on the top bracket also raises their tax rate and takes income from the company. More important, if a small business is making a small profit right now, say 5%, and they don't know if the tax rate is going to increase by 4.6% next year, and not mention the rising cost of medical insurance, they are going to be disinclined to make a move that will evaporate that small margin. Stability is what we need. making moves that are drastically increasing healthcare costs to companies and assing around with the Obama tax cuts is what is killing the economy right now. Obama could win the election without a problem if he would just push to make the tax cuts permanent before the election.

 

[AdamT]

Many "small" businesses don't pay a corporate tax rate they pay at the individual (the owner's or owners) tax rate. Raising the tax rate on the top bracket also raises their tax rate and takes income from the company. More important, if a small business is making a small profit right now, say 5%, and they don't know if the tax rate is going to increase by 4.6% next year, and not mention the rising cost of medical insurance, they are going to be disinclined to make a move that will evaporate that small margin. Stability is what we need. making moves that are drastically increasing healthcare costs to companies and assing around with the Obama tax cuts is what is killing the economy right now. Obama could win the election without a problem if he would just push to make the tax cuts permanent before the election.

Okay, you're talking about pass-through taxation. So, first of all, very few small businesses actually make enough money to get into the top tax brackets: I believe the figure is around 3%. Second, this is obviously a choice that small businesses make. If they want to they can incorporate and enjoy the pleasure of double taxation. Third, the tax you're talking about doesn't apply to a business -- it applies to the individual income of someone who may or may not own a small business. If you have a small business and use pass-through taxation then the business doesn't pay any income tax at all.

 

[Velvet Elvis]

Obama is an idiot. Businesses do not pay taxes. You can whine and stamp your feet all you want, but that's the truth. Any taxes burdened upon a business goes into the cost of the product or service they offer. The more the Fascist in Chief jacks up corporate taxes, the higher things cost.