Bloomberg Businessweek has a thoughtful story on the Tea Party movement and what it means to business.
Why Business Doesn’t Trust the Tea Party
Tea Party supporters probably won’t like the story, even though Businessweek gives the movement its due for having a major influence on the midterm elections.
Here’s a snippet from the story that should give every business owner pause.
It looks like the cost of avoiding another Great Depression will be about $51 billion — a lot less than originally thought. Turn off the TV, sit in a quiet corner and think about that for a minute.
The Troubled Asset Relief Program cost taxpayers a lot of money, but it was a cheap price for avoiding bread lines and 25 percent unemployment. It’s a price every taxpayer should be thankful for, but many are too angry to be thankful.
It’s a classic disconnect.
With Labor Day behind us the stretch run begins for the midterm elections and a lot is at stake for business.
Today, President Obama is expected to propose a $200 billion tax break that would allow businesses to write off 100 percent of new capital investments through 2011.
You know it’s going to be a tough campaign when a Democrat is proposing tax breaks for business.