I scanned all 110 posts and NOT ONE mention of the loss of $8 trillion!
Not one mention of Net Operating Losses.
Not one mention the IRS allows this $8 trillion to be written off over 30 years.
Not one mention the Loss of $267 billion a year in tax revenue starting 2002.
1) Dot.com bust cost $5 trillion in market loss "The Stock Market Crash
of 2000-2002 caused the loss of
$5 trillion in the market value of
companies from March 2000 to October 2002.[13]
Dot-com bubble - Wikipedia, the free encyclopedia
2) The 9/11 terrorist destruction of the World Trade Center's Twin Towers,
killing almost 700 employees of Cantor-Fitzgerald, accelerated the
stock market drop; the NYSE suspended trading for four sessions.
The stock market lost 16% of its value on 9/11. The stock markets
themselves estimate the real costs to the market in lost value and
profits at close to
$2 trillion over time.
Economic terrorism: Bin Laden was major contributor to budget deficit - National economic policy | Examiner.com
3) Worst hurricane SEASONS in history.. actual costs that were written off
Federal/State/Local income, sales, and property taxes over $1 trillion!
So given nearly $8 trillion in losses the IRS allows tax payers to write off against income nearly $267 billion a year starting in 2002!
What affect on businesses do you think the above events had in:
1) capital expenditures
2) tax planning
3) Borrowing? Remember the govt. is the biggest borrower and squeezes everyone out!
AND OBAMA had NOTHING to do with any of those events ANY more the Bush did!
BUT the difference..
1) Bush came in on a recession that started 3/2001 ended 11/01.
Promoted tax cuts to stimulate consumers!
2) Bush DID NOT though
a) discourage as Obama has Oil exploration
b) discourage businesses as Obama has.. blatantly boasted..
“I happen to be a proponent of a single payer universal health care program.”
Barack Obama on single payer in 2003 | Physicians for a National Health Program
Wants to destroy domestic OIL producing companies!
1) Obama won't allow domestic drilling BUT gave $2 billion to a Brazilian company that his largest donor
Soros had 22% interest in to develop Brazilian Oil drilling and then gallingly SAYS:
"We want to help you [Brazil] with the technology and support to develop these oil reserves safely.
And when you’re ready to start selling, we want to be one of your best customers."
How could ANY President give $2B to a foreign company for oil and say we'll be their BEST customer!!!
2) EPA Rules Force Shell to Abandon Oil Drilling Plans
The decision comes following a ruling by the EPA’s Environmental Appeals Board to withhold critical air permits.
Shell has spent five years and nearly $4 billion dollars on plans to explore for oil in the Beaufort and Chukchi Seas.
The leases alone cost $2.2 billion.
Bush NEVER discouraged businesses as Obama has:
a)Obama says $1 billion will be raised by the $100/ flight:
The fee on corporate jets and other private passenger planes, for example, would raise about $1 billion a year to help finance the cost of air traffic control.
NONE of Bush's efforts discouraged businesses from expanding..
EVERYTHING OBAMA has done is to discourage businesses!
Listen to what business leaders SAY!!!
At issue: The EPA's plan to go far beyond former President Bush's effort to tighten ozone standards way in advance of the planned review in 2013. It could push much of the nation into non-attainment status under the Clean Air Act, forcing major changes to improve air quality. Most business groups opposed the hurried-up regulations. The National Association of Manufacturers has drawn up a scary map that shows only parts of the central North, the top of Maine and a few other sections of the country that will be in compliance of the new ruling.
Environmental groups, however, cheer the changes, claiming it will make the air much more healthy.
Today at the weekly Senate GOP Caucus, Sen. John Barrasso of Wyoming led the opposition. "People in Wyoming are also concerned about jobs, the economy. And this week the Environmental Protection Agency is going to come out with new rules and regulations on ozone, which have been called the most expensive environmental regulations in the history of the United States. They didn't need to do this until 2013, but unilaterally, and I believe dangerously, they're coming out with this," he said.
"And even the Pennsylvania Chamber of Commerce has said this will cost about
330,000 jobs in Pennsylvania. I think that the — that the focus around the country is on jobs and the economy, and this administration ought to take this 9.2 percent unemployment a lot more seriously than they are taking it right now."
[Read why the EPA's budget and power is under attack from Republicans.]
He also handed out a summation of many of business' warnings:
In 2008, the Bush administration tightened ozone standards in the National Ambient Air Quality Standards (NAAQS) from 84 ppb to 75 ppb (parts per billion).
• Although the next ozone standard review isn't due until 2013, the EPA is moving forward with another rule to drastically lower the ozone standards.
• The Business Roundtable has called this new rule the "single most expensive environmental regulation ever imposed on the U.S. economy."
• If communities aren't able to meet these new standards, the EPA will have the ability to intervene and block any new construction, including new highways or factory expansions, if those activities contribute to ozone pollution.
• This will crush local investment, economic expansion and jobs.
I mean why in tough times would ANY President MAKE IT tougher???
