Obama's gonna give a big 'ol speech about jobs. In it, he's expected to announce "a payroll tax cut, an infrastructure bank, patent reform, the passage of three trade deals, tax credits to encourage the hiring of veterans."
Evidently, that's the best that Harvard can produce. That won't spur anything. It ignores the reasons that businesses struggle right now.
Without that (and more), nothing will spark. Which means that he'll grow increasingly irritated and executively impulsive. Not good.
- Massive deregulation (get government out of the way of business)
- Permanently rescinding ObamaCare (nobody knows yet how much it will cost or how it will impact business)
- Tax cuts, both corporate and personal (the US has the highest corporate tax rate in the world)
- Offshore drilling permits expedited (abundant and cheap energy)
- Championing small business in speeches (make friends with us again instead of using us as your whipping post)
He's not smart. He doesn't understand the private sector. He doesn't know what it is to live outside of the government or grants.
So, we'll have more malaise in the marketplace and a government supremely out of touch with reality.
What's ironic is something I shared with a friend the other day. She works for a non-profit, which is struggling in this economy. She was thinking about getting a different job, but didn't want to work for a corporation. "I want to do good," she said.
I explained to her that there would be no government grants without small and large business. Government money comes from taxes, which comes from private sector incomes. I explained that non-profits get all of their donations from corporations.
"About 70% come from individuals," she interjected.
"And where do those individuals get their income?"
The light bulb went off above her head, and she nodded. "I see. Hmm... you know, I never thought of it that way."
Business is the source of everything. It creates goods and services. It provides income to families. Without it, there would be no tax revenue, whether individually or corporately.
And the smartest guy in America can't figure that out. That's a damn shame... for all of us.