So, President Obama talked the Business Roundtable into reversing their stance against tax increases

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from Steve Benen at the Maddow blog: http://maddowblog.msnbc.com/


President Barack Obama delivers remarks and takes questions from business leaders at the quarterly meeting of the Business Roundtable at the BRT in Washington, D.C., Dec. 5, 2012. (Official White House Photo by Pete Souza)


Corporate 'job creators' reject GOP antics

The Business Roundtable is not known for its moderation or sympathy towards Democratic economic ideas. On the contrary, the organization represents the chief executives of many of the nation's largest companies, and has a reputation in D.C. for being a reliable Republican ally, especially on issues related to taxes, spending, and fiscal responsibility.

It's what made yesterday's developments that much more noteworthy.

The Business Roundtable, a group of the nation's top CEOs, Tuesday urged lawmakers to consider raising taxes to avert the fiscal cliff, a shift for business leaders who had previously said they wanted all tax cuts extended for one year.

"We urge you to step forward and demonstrate that principled compromise is once again possible and that the American political system that underpinned the economic success of our nation and others can function as designed," the group said in a letter to House and Senate leaders. A similar letter was also sent to the White House. The chief executives of Boeing Co., Dow Chemical Co., American Express Co. and other large businesses signed the letters. [...]

On Tuesday, Honeywell International Inc. Chief Executive David Cote explained the Roundtable's change of heart: "We think that compromise and showing our ability to govern is more important than sticking to any particular ideological view."

Imagine that.

The Honeywell CEO added, "We recognize that part of the solution has to be tax increases. That's the only thing that allows a reasonable compromise to be reached."

The Business Roundtable's new policy position comes two weeks after a series of business leaders and Wall Street executives also rejected Republican debt-ceiling efforts, arguing that another GOP-imposed crisis would be awful America's private sector . . .


read more: http://maddowblog.msnbc.com/_news/2012/12/12/15863211-corporate-job-creators-reject-gop-antics?lite

related:

December 6, 2012 - Obama, Business Roundtable Disagree Over Taxes
President Obama is lobbying the CEOs of the nation's largest companies to support him as he tries to reach a budget deal with Republican lawmakers. The president met Wednesday with members of the Business Roundtable. The group urges the extension of Bush-era tax cuts for everyone, including the wealthy.
http://www.npr.org/2012/12/06/166622374/obama-business-roundtable-disagree-over-taxes




flashback to a week ago:

President Obama spoke to members of the Business Roundtable, an association of CEOs of American businesses, and reiterated his plan to extend tax cuts for middle-class families.

He explained how preventing tax hikes for middle-class families is good for business leaders as well as the broader economy.

“If the companies in this room are doing well, then small businesses and medium-sized businesses up and down the chain are doing well," he said. "If companies in this room are doing well, then folks get jobs, consumers get confidence, and we're going to be able to compete around the world.”

The President said that a bringing down our deficits in a balanced way means cutting spending as well as raising revenue through higher tax rates on the wealthiest Americans -- which would include some members of the Business Roundtable.

Let’s allow higher rates to go up for the top 2 percent -- that includes all of you, yes, but not in any way that’s going to affect your spending, your lifestyles, or the economy in any significant way; let’s make sure that 98 percent of Americans don't see a single dime in tax increases next year, 97 percent of small businesses don't see a single dime in tax increases next year -- and by doing that alone we raise almost a trillion dollars without any adverse effects on the economy.

read the President's full remarks here: http://www.whitehouse.gov/the-press-office/2012/12/05/opening-remarks-president-business-roundtable

[AnotherMcIntosh]

1. Important, if true.

What do they anticipate getting in return for their support, no matter how lukewarm or meager?

Do they anticipate that Obama will sign the pending let's-send-even-more-American-jobs-to-foreign-countries-and-benefit-corporate-executives-and-stockholders "free trade" agreement?

Do they anticipate that he'll sign the pending let's-all-get-rich-because-a-rising-tide-lifts-all-boats "free-trade" agreement?

[bigtree]

2. maybe they understand the stakes

. . . as the President correctly explained to them.

[AnotherMcIntosh]

4. One talk converted them from a I've-got-mine philosophy to a Henry-Ford one? When they no longer

support the pending TPP (called the NAFTA of the Pacific), I'll believe that they've been converted.

The support of big business for the pending TPP and existing let's-send-jobs-to-foreign-countries "free trade" agreements indicates that they are still in a let's-screw-what-remains-of-the-middle-class mode.

When President Obama comes out and says that he is not going to sign the TPP, then I'll believe it.

[Turbineguy]

3. They may understand economics better

than GOP polititians.

[OneGrassRoot]

5. *THEIR* ability to govern?

Does this strike anyone else as interesting?

On Tuesday, Honeywell International Inc. Chief Executive David Cote explained the Roundtable's change of heart: "We think that compromise and showing our ability to govern is more important than sticking to any particular ideological view."

We know Corporate America really DOES control things to a frightening degree, but is this another blatant admission of it? If so, I like the fact that they're dropping any pretense to the contrary.

Maybe I'm misinterpreting...

[bigtree]

6. no misinterpretation there

. . . he spoke his mind. Interesting.

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7. kick

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8. .