Paul Krugman:Pity the Poor C.E.O.’s

[cal04]

http://www.nytimes.com/2010/07/09/opinion/09krugman.html?ref=paulkrugman

Job creation has been disappointing, but first-quarter corporate profits were up 44 percent from a year earlier. Consumers are nervous, but the Dow, which was below 8,000 on the day President Obama was inaugurated, is now over 10,000. In a rational universe, American business would be very happy with Mr. Obama.

But no. All the buzz lately is that the Obama administration is “antibusiness.” And there are widespread claims that fears about taxes, regulation and budget deficits are holding down business spending and blocking economic recovery.

How much truth is there to these claims? None. Business spending is indeed low, but no lower than one would have expected given widespread overcapacity and weak consumer spending. Business leaders are feeling unloved, but giving them a group hug won’t cure what ails the economy.

(snip)
So where’s the evidence that an antibusiness climate is depressing spending? The answer, supposedly, is that this is what you hear when you talk to entrepreneurs. But don’t believe it. Yes, when you talk to business people they complain about taxes, regulations and the deficit; they always do. But the Obama’s-socialist-policies-are-wrecking-the-economy chorus isn’t coming from businesses; it’s coming from business lobbyists, which isn’t at all the same thing. Read the report on the U.S. Chamber of Commerce in the latest Washington Monthly: peddling scare stories about what Democrats are up to is a large part of what organizations like the chamber do for a living.

[DJ13]

1. it’s coming from business lobbyists, which isn’t at all the same thing

Then its the responsibility of the corporations to call the lobbyists they employ and tell them to stop spreading fear which will only further damage the business climate.

Or is it asking too much to think that corporations should be held responsible in todays political climate?

[Jackpine Radical]

2. Really, now, the idea of holding corporations responsible

is pure socialism. It'll ruin this country.

We need to apologize to BP. We need to eliminate all those nasty regulations and taxes on great wealth. Isn't it time the poor started pulling their weight in this country? And while I'm on that topic, we have way too many poor people in this country. After all, how many organ donors do the rich actually need?