Everyone wants their piece of the action in Washington and the Democratic National Committee is concerned that their piece is getting smaller because of President Obama’s Organizing for Action group. O4A is actively seeking donations from large companies and wealthy individuals. This is usually the territory of the party and some Democrats are not happy that their toes are being stepped on.
Drudge ran the headline ” Mission Accomplished Obama Ending Jobs Council.” This is an obvious reference to President Bush’s premature declaration of victory in Iraq. But really, it is “mission accomplished” for Obama.
All too true. Big corporations have deep pockets to both deal with regulation and also to mitigate regs specific to that business. Small business, the bread and butter of the American economy, has no such luxury.
Here is what Business Week writer Brendan Greeley tells us about the effect of personal taxes on our economy: “Economists have known for a while that personal marginal tax rates, and in particular those on the rich, don’t seem to have much of an effect on the economy.”
I often people talk with people who are under the impression that corporations are some sort of creation of a laissez faire economy. They believe that the current corporate oligarchy we live under, and I don’t think that is too strong a term, is because markets were left too free. This couldn’t be more wrong.
An interesting review of the book Unequal Protection by ACC reader, Hogeye Bill.
By Hogeye Bill
Corporations are under political scrutiny again, as they have been periodically in American history. Also under examination is corporatism, the alliance between large favored firms and central government. While “corporatism” is easy to define – the collusion between politically connected firms and State – defining “corporation” is a little more difficult. This is because the word can refer to a broad category of human associations.