Friday, January 22, 2010

The Business Of Being President

"Good design can't fix broken business models." ~ Jeffrey Veen

Barack Hussein Obama recently made a comment that made me so angry, I had to wait until now to write a commentary. Now that I've calmed down somewhat, I will comment.

I was watching a report on TV about Obama stumping for Martha Coakley in Massachusetts, when the news program played a clip of Obama announcing his plan to charge a fee to banks and institutions who are giving millions of dollars of bonuses to their executives.

I had to google it to find it, and I confess, what I found isn't exactly what I heard, but it is essentially the same thing. This is from FOX news' website,
...Obama, striking an emphatic and populist tone, said Thursday that he is determined to recoup every dollar spent from the $700 billion Troubled Asset Relief Program to rescue Wall Street firms with a new tax on the largest banks.

"We want our money back and we're going to get it," he said.

Obama described bank bonuses as "obscene" and said the new tax would cover a projected $117 billion shortfall in the government's financial crisis bailout fund.

Upon hearing the report, I gasped in amazement.

Isn't Obama Harvard educated?

Is he not considered by Democrats to be something of a genius?

He's the (illegally) duly elected President of the United States, is he not?

Doesn't attaining the office of President of the United States imply he has at least as much intelligence as a fifth grader?

Then why doesn't he understand simple arithmetic?

Why does he not understand basic business principles?

I am not a businessman, but even I understand businesses compensate for loss of profits by raising prices on goods and services.

How does Obama's ambitious plan affect business?

Look. It's simple:

If Obama charges a fee or a tax to the corporations who pay "obscene" bonuses, the companies will simply raise their prices on goods and services. If, as he says, he only charges banks new taxes or fees, they will pass the loss in profit onto their customers in the form of higher fees and prices.

Those customers include every business that every one of us does business with on a daily basis.

Grocery stores, Department stores, Home improvement companies--name one.

Name any.

Name them all.

They all do business with banks.

And what happens if banks pass their expenses on to their customers? Well, naturally, their customers pass their expenses on to us.

The consumers.

They also lay off employees because they can no longer afford to pay them.

Let's see now. How does Obama's plan of charging more fees or taxes to banks create his promised hope?

How does it create change?

I hope he doesn't.

It's Change for the worse.

Good God!

Is he stupid or does he just think we are?


Fredd said...

It is indeed hard to figure this guy out, Mark. A Harvard education, and I know 4th graders with more brains.

It is simple Econ 101, which he knows absolutely nothing about.

But he does know quite a bit about radicalism, and right now he needs a bogeyman to demonize: Big Banks. Right out of Saul Alinsky's 'Rules for Radicals.'

Now that his health care garbage crashed and burned, he wasted no time in abandoning the insurance industry as being his #1 target, and picked another without missing a beat.

Lone Ranger said...

I keep thinking that nobody can be that stupid, but the only alternative is that he's deliberately trying to crash the economy, so he can replace it with a socialist state.

Trader Rick said...

But, gee, if a light skinned Negro doesn't work out as president, doesn't that really make it harder for dark skinned Negroes? We should all support that guy. Oh, wait, we can't, cuz we're POTHOLES!

Joe said...

Trader Rick: 'Cuz we're potholes." That was very funny!

President BO considers himself to be an economic philosopher. As such, he thinks that 2 + 2 may or may not equal 4.

So, if a bank is charged a fee for something, all he has to do is to say, "We forbid you from passing this cost on to your customers" and it will be so.

Businesses exist to make money, and in the process of doing so, they hire people who get paid and who then spend money, thus helpig the economy grow.

When the process is interrupted by whatever means (especially by the government), either prices go up or business struggle and/or fail.

When businesses struggle and/or fail, people get lose their jobs.

Unemployment is over 10% in our country.

President BO is not bright enough to understand why.

Z said...

Scary, isn't it, Mark.
Very well said here..and you'd think anybody'd understand your points; I'm starting to think Harvard UNteaches Americans.

Always On Watch said...

Is he stupid or does he just think we are?

He thinks that he can schmooze his way through anything and everything.

Well, that method got him elected. But I don't see how that method can keep him in office or help him to accomplish his agenda.

On the other hand, I confess a certain lack of confidence in the American voter to see through the smoke and mirrors.

Randy said...

Regarding the "we want our money back" comment. These companies have already paid back the TARP funds WITH INTEREST!! Giving them the money to begin with was wrong, they should have been allowed to fail. Changing the rules after the game has been played is wrong.

Krystal said...

"Is he stupid or does he just think we are?"

Truly, this was rhetorical, yes?!

Look, the man doesn't understand this because he's NEVER ran a business. He's never had a REAL job in the REAL world!

This is just like the 300% unemployment tax hike being put imposed on employers this year in Florida. How do the people in the government think this is going to help? The majority of businesses down there are struggling to stay open.

All it will do is end up in more layoffs thus increasing the number of unemployed persons thereby increasing the number of persons collecting unemployment.


Mark said...

Krystal..."Look, the man doesn't understand this because he's NEVER ran a business. He's never had a REAL job in the REAL world!"

I won't accept that for an excuse. I have never run a business, plus I never finished College, let alone graduated from Harvard. If I understand business owners won't sacrifice profit, Obama has no excuse.

And don't get me started on the implications of more layoffs coupled with extending unemployment benefits.

Ah, too late. What the heck does he think laid off workers are going to do with extended unemployment benefits? Does he really think that will encourage them to find work or will it encourage them to relax and live off the Government teat a few months longer?

I'm betting on the latter.

Krystal said...

Not saying it's an excuse. I'm just pointing out that it's much easier for people who have never lived in the real world to be stupid. They loose touch with reality and become ... stoooooopid.

Most Rev. Gregori said...

Lone Ranger said: "I keep thinking that nobody can be that stupid, but the only alternative is that he's deliberately trying to crash the economy, so he can replace it with a socialist state."

You hit the nail on the head, and to those who doubt what his intentions are, remember what he said at one of the debates: "If you want to know how I will govern, just look at the people I surround myself with."

Well, what are his closest advisers, TAX CHEATS, RADICAL SOCIALIST/MARXISTS, LIARS, HOMOSEXUAL PEDOPHILES, etc. Need I say more?

Mike's America said...

Has anyone ever noticed that Obama's solution to every problem is some new kind of tax?

All the guy is interested in is getting as much money as he can to buy votes and hire an army of ACORN workers.