October 18, 2010

Truth-O-Matic

Once again our new Error Correction Technology(!) we can fix the President's latest remarks to make them truthful:

Remarks of President Barack Obama
As prepared for delivery
Saturday, October 16, 2010
Washington, DC

After a decade of hardship for middle class families, and a recession that wiped away millions of jobs, we are in the middle of a tough fight to rebuild this economy and put folks back to work.

(Ed. -we're off to a good start. No corrections needed.)

Winning this fight will not depend on government alone. It will depend on the innovation of American entrepreneurs; on the drive of American small business owners; on the skills and talents of American workers. These are the people who will help us grow our economy and create jobs.

(Ed. -not bad. One word must have slipped by the editor)

But government still has an important responsibility. And thatís to create an environment in which someone can raise capital to start a new company; where a business can get a loan to expand; where ingenuity is prized and folks are rewarded for their hard work.

(Ed. -sweet merciful God. He sounds positively capitalist! I blame the Tea Party)

Thatís why I fought so hard to pass a jobs bill to cut taxes and make more loans available for entrepreneurs. It eliminated the capital gains taxes for key investments in small businesses. It increased the deduction to defray the costs of starting a company. And itís freeing up credit for folks who need it the biggest donors to my party. In fact, in just the first two weeks since I signed the bill, thousands of business owners have been able to get new loans through the SBA but not banks as they're too wary of uncertainty right now. So we're full steam ahead with government lending again. That worked out swimmingly last time.

But we need to do more less. So Iíve proposed additional steps to grow the economy public sector and unions and spur hiring by businesses government across America. Now, one of the keys to job creation is to encourage companies to invest more in the United States. But for years, our tax code has actually given billions of dollars in tax breaks that encourage companies to create jobs and profits in other countries. These companies have wisely fled high tax and high regulatory environments for more business friendly ones. They realize their shareholders want ROI and if they don't provide that, someone else will.

I want to close these tax loopholes tax the holy hell out of these bastards. Instead, I want to give every business in America a tax break so they can write off the cost of all new equipment they buy next year. Thatís going to make it easier for folks to expand and hire new people. They will not do either however, so long as I keep pushing forward with endless spending, taxing and regulations. I want to make the research and experimentation tax credit permanent but expect Democrats to wail and moan that Big Pharma and Big Oil will be using that tax credit to fullest possible extent. Because promoting new ideas and technologies is how weíll create jobs and retain our edge as the worldís engine of discovery and innovation. And I want to provide a tax cut for clean energy manufacturing right here in America. Because thatís how weíll lead the world in this growing industry. Big corporations are evil unless they're Apple or these mythical "green energy" jobs that are nothing more than giveaways to Algore and his ilk.

These are commonsense ideas which is remarkable coming from me as I appear to have none. Hell, I went to Ivy League schools and can't figure out car insurance. When more things are made in America, more families make it in America; more jobs are created in America; more businesses thrive in America. I will somehow take us backwards from an service economy with knowledge workers to a manufacturing economy with the highest labor costs in the world and we will somehow be able to compete with Chinese slave labor. But Republicans in Washington have consistently fought to keep these corporate loopholes open. We all know that Republicans and their magical loopholes are the only thing that drove the Big Three into ruin. Or the steel industry in Pennsylvania or textiles in South Carolina. Stupid loopholes Over the last four years alone, Republicans in the House voted 11 times to continue rewarding corporations that create jobs and profits overseas tax cuts Ė a policy that costs taxpayers politicians billions of dollars every year.

Like most of my policies That doesnít make a lot sense. It doesnít make sense for American workers, American businesses, or Americaís economy. Just like the stimulus and health care plans do not make sense for any of these groups A lot of companies that do business internationally make an important contribution to our economy here at home (Ed. - a point so obvious Joe Biden probably wrote that line). Thatís a good thing. But there is no reason why our tax code should actively reward them for creating jobs overseas punish them for making money. Instead, we should be using our tax dollars to reward companies that create jobs and businesses within our borders but I don't know how to do that and steal every last penny from them so I can spend it where I think it ought to go.

We should give tax breaks to American small businesses and manufacturers. We should reward the people who are helping us Democrats lead in the industries of the future cash fundraising, like clean energy. Thatís how weíll ensure that American innovation and ingenuity are what drive the next century. Thatís how weíll put our people back to work and lead the global economy which, as I said before will be a Great Leap Forward to the 1950's when manufacturing was king in America. And thatís what Iíll be fighting for in the coming months. That, and my job. Oh, and my legacy. But also jobs.

Thank you.

Posted by Duffy at October 18, 2010 05:11 PM | TrackBack

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