These are the results you get when a community organizer is elected president. It has become painfully oblivious that Barack Obama, the least qualified man ever elected president, hasn’t a clue about business. This report in the Hill reinforces his ignorance of the private sector.The Hill reports that President Obama called on U.S. businesses to do more to help grow the economy, saying that while the unemployment rate is getting better and jobs are being added, the U.S. needs “to get there faster.”“Businesses have a responsibility, too,” said Obama in his weekly address on Saturday. “If we make America the best place to do business, businesses should make their mark in America. They should set up shop here, and hire our workers, and pay decent wages, and invest in the future of this nation. That’s their obligation.”
Obligation?
A private company is obliged to make a product or provide a service people are willing to pay for.
The person or persons who start a business take risk by putting up the capital necessary either via loans or the own personal fortune to get the business up and running.
If the business is successful, they hire more people, open up new stores or service centers and create other businesses that bolster the profits of the original business.
However, if the business is not successful due to some other company offering a better products or services, that business shits down.
No where in this description of the basics our capitalist system is the understanding that a business is “obliged” to hire an extra person or persons when it’s just trying to keep from going out of business.
For Obama to suggest that American businesses are obliged to help the economy grow demonstrates that he doesn’t have even a rudimentary understanding of how business works whatsoever.
The basic difference between the public sector which is the only world Obama knows and the private sector, is that the private sector “creates value” either via a product or service and creates wealth for the owners and employees at various degrees depending upon skill level.
Then the public sector comes along and taxes the same “created value” and redistributes the wealth created by the private business to pay government workers like policemen, fireman, and the president of the United States.
These are two different worlds which operate by very different rules.
But, President Obama doesn’t understand the nuance.
If he did he wouldn’t say something as stupid as businesses are obliged to grow the economy.
If he had an inkling of understanding of economics he wouldn’t have imposed a moratorium on oil drilling which has needlessly devastated the oil industry in Gulf. That’s American jobs lost because of him.
If he knew anything, he would cut cooperate taxes in this country which is the highest in the world and the reasons more American jobs are being shipped overseas. And there’s no bigger culprit that Jeffrey Immelt, head of GE, Obama’s new advisor, who’s has sent more jobs overseas than any other American company. Good one, Barack.
But, the biggest indicator that Obama doesn’t understand private business is ObamaCare which will totally reform the country into another European socialist democracy.
Oh, maybe he does know what he’s doing after all.
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