Easy for you to say Mr. CEO.
Yesterday, I wrote about General Electric’s chief Jeff Imelt and his assertion that “state run communism…works.” Now we learn that at a closed door meeting with the president last week the Business Roundtable blessed the idea of raising taxes on small business and individuals. Anything to keep this president happy it appears. It makes one wonder what business schools these guys went to. Remember free enterprise guys? Perhaps, many of them would prefer to forget it. Mr. Imelt has.
The National Federation of Independent Businesses had something to say about the Business Roundtable’s revenue raising idea-
“It’s unfortunate that some business leaders are so cavalier in asking the government to raise taxes on someone else — namely, on small business — while protecting corporate profits and Wall Street,”
And the NFIB is right. That is exactly what is going on.
This administration would rather deal with a small number of large businesses which it can corral and compel, than the large number of small businesses which have traditionally been the engine of the American economy. Big business is comparatively easy to co-opt with regs, reg forgiveness and subsidies. Small business, on the other hand, is much scrappier and much harder to control. So, big business and this administration increasingly play ball with one another. Small business is marginalized for the benefit of both the president and big business.
But this is what happens when crony capitalism becomes more and more entrenched. Big businesses stop being businesses and start becoming semi-political entities.