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Obama to Business Owners: You Can’t Take Credit for Your Success

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As if business owners in the United States weren’t discouraged enough already with high taxes, red tape, and an uncertain market, President Obama had some choice words for them in a speech he delivered Friday to supporters in Roanoke, Virginia:
If you’ve got a business — you didn’t build that.  Somebody else made that happen.
Apparently, hard work, self-discipline, sacrifice, vision, and tenacity just don’t matter. A lazy parasite could just as easily start a successful business if only the right person gave him a leg up. So if business owners aren’t responsible for their success, who is? Well maybe another line in his speech provides a clue:
The Internet didn’t get invented on its own.  Government research created the Internet so that all the companies could make money off the Internet.
Well, that clears things up a bit. I thought Al Gore invented the internet. Turns out even he couldn’t pull it off on his own. The government invented the internet. So other people could make money. Right. And the implication is that the answer to our current financial predicament is the same: government.
Marxists have been redefining economic terms to suit their totalitarian ends for some time. Consider that you are not rich or poor. You are “privileged” or “under-privileged.” Because it’s not about how hard you work or how smart you are or how much you can produce at what cost (as Obama makes clear elsewhere). It’s about whether or not fate dealt you a good hand. And since we can’t rely on fate to give the right people the right amount of money, it’s a good thing the government’s there to help everyone share their toys.
This theory is obviously unjust to those people who have taken extraordinary risks and invested considerable effort and resources into making this country worth living in. But, ironically, Marxist rhetoric is also destructive to the very class of people it pretends to champion: the poor. If it really doesn’t matter what you do; if you inherit your poverty or your riches and there isn’t anything you can do to change that; if a successful business could be created by just anyone with the right opportunity; then why try? If you are poor, it’s not because you aren’t working hard. It’s because the circumstances you inherited make poverty inevitable for you. Forget the fact that history says otherwise. If you buy Obama’s Marxist lies, your drive to better yourself will completely evaporate in a wave of resignation. The hard truth is that government largesse hurts in the long run any who receive its short-term benefits… and believe its short-term philosophy of living.
But don’t get me wrong. Obama is all about individual accomplishment. Well, as long as you’re talking about his individual accomplishments. He killed Osama, remember? Did you know he wrote himself into the official White House biographies of every president since Calvin Coolidge? Maybe Obama should take his own advice. It is true that he has done little to build the position he fills and the status he enjoys among the nations. Men before him have made the United States great. He operates on borrowed capital. You’ve got a presidency? You didn’t build that. Someone else made that happen. In fact, they made it happen so well, that even your bungling mismanagement hasn’t been able to destroy the presidency completely. Yet. But don’t worry. There’s still time to add one more line item to your already prodigious list of achievements.

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Business

Alaska Gov. Moves to Dump Goldman Sachs after Bank’s Oil Divestment Scheme

Goldman Sachs recently began eliminating investments in fossil fuel companies, but the move spurred Alaska to retaliate by cutting its own ties with the bank.

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Banking giant Goldman Sachs recently began eliminating its investments in fossil fuel companies, but the move has now spurred Alaska to retaliate by cutting its own ties with the bank.

Last week, Goldman Sachs announced that it intended to stop financing new oil exploration in the Arctic as part of its gradual move to eliminate investments in fossil fuels.

But Alaska’s Republican Governor, Mike Dunleavy, was less than thrilled with the big bank’s move.

Dunleavy said that he is directing the state to begin eliminating Goldman Sachs from its own investment plans over the bank’s divestment of one of the state’s most important resources: oil.

“In response to Goldman’s pledge, the governor’s office has directed the review and where possible without financial or progress impairment, the removal of Goldman from business relations with the state,” acting Revenue Commissioner Mike Barnhill wrote in a Friday letter to Goldman’s CEO, according to the Anchorage Daily News.

Dunleavy also said he had “serious reservations” about working with a bank that did not have the best interests of Alaskans in mind.

“I think it’s part of my role to advocate on behalf of Alaska,” Dunleavy added.

It’s about time someone with a little power began striking back at this left-wing bullcrap being perpetrated by so many large corporations groveling at the feet of the far left.

So, after Goldman’s announcement of its anti-oil direction, Alaska began removing the bank from its list of participating banking institutions.

Dunleavy said that Alaska may take similar actions about doing business with any other company that pushes far left nonsense and PCism disguised as company policy.

“There may be other outfits that we do business with … that may be working against our goals,” the gov. added.

Follow Warner Todd Huston on facebook.com/Warner.Todd.Huston.

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Cyber Monday Hits Record $9.2 Billion in Sales

After Thanksgiving Day, America saw a huge $9.2 billion record in sales on Cyber Monday.

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If Americans are dour about the country ahead of the 2020 election, you sure wouldn’t be able to tell it with the huge $9.2 billion record in sales on Cyber Monday.

The final day of the Thanksgiving holiday season found Internet sales at 17 percent higher than the amount in 2018, which was itself a record.

According to Breitbart News, there are some changing statistics with online shopping:

Online shopping is changing. About one-third of sales took place on mobile devices this year and the peak hour for shopping was much later than in years past, according to Adobe. In the past, people tended to shop during the workday, taking advantage of high-speed internet connections at their place of employment. This year around half of Cyber Monday sales came after traditional work hours, with sales peaking around 11 P.M. eastern time, according to Adobe.

“The data comes from a realtime analysis from Adobe Analytics and is based on web transactions of 80 of the top 100 internet retailers in the U.S.,” Breitbart added.

As Cyber Monday sales rose, sales over the Internet even jumped during Black Friday when Americans traditionally surge out to the brick-and-mortar stores. Tech Crunch noted that online sales jumped to $7.4 billion on Black Friday this year. This was $1.2 billion higher than online sales during 2018’s Black Friday shopping day.

Popular products this year included Frozen 2 toys, L.O.L Surprise, and Paw Patrol. Best-selling video games included FIFA 20, Madden 20, and Nintendo Switch. And top electronics, meanwhile, included Apple Laptops, Airpods, and Samsung TVs.

“With Christmas now rapidly approaching, consumers increasingly jumped on their phones rather than standing in line,” said Taylor Schreiner, Principal Analyst & Head of Adobe Digital Insights. “Even when shoppers went to stores, they were now buying nearly 41% more online before going to the store to pick up. As such, mobile represents a growing opportunity for smaller businesses to extend the support they see from consumers buying locally in-store on Small Business Saturday to the rest of the holiday season. Small Business Saturday will accelerate sales for those retailers who can offer unique products or services that the retail giants can’t provide.”

As to the physical stores, Target, Walmart, Costco, and BJ’s Wholesale Club topped the list of biggest retailers on Black Friday.

Perhaps unsurprisingly, though, even as online sales grew by billions, shopping at the brick-and-mortar stores fell by six percent, CNBC reported.

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Alexandria Ocasio-Cortez Has STILL Not Paid Past Due Taxes for Her Failed Business

New York’s favorite socialist Representative, Alexandria Ocasio-Cortez, has still not paid her delinquent taxes from her failed business, a report finds.

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New York’s favorite socialist Representative, Alexandria Ocasio-Cortez, has still not paid her delinquent taxes from her failed business, a report finds.

The state of New York issued a tax warrant in 2017 against Ocasio-Cortez’s failed Brook Avenue Press business she founded in 2102. The unpaid taxes amounted to a bill of $1,618.36 in corporate taxes.

According to Daily Caller, tax warrants are issued against businesses that “fail to timely resolve” their tax debt.

The story of the NY rep’s unpaid taxes was first reported by the New York Post in March. Ocasio-Cortez quickly promised that the delinquent taxes would be paid.

Clearly they have not.

Later in March, the Post reported that the unpaid tax bill still had not been paid. And now, the Daily Caller finds that even by today, six months later, that bill remains unpaid.

The Bronx County Clerk noted that the Ocasio-Cortez still had not paid up.

The Caller added:

Ocasio-Cortez presumably has the means to pay off her business’s unpaid taxes with a congressional salary of $174,000.

Ocasio-Cortez’s office did not respond to the DCNF’s request for comment.

New York state dissolved Ocasio-Cortez’s company in 2016 using a procedure reserved for corporations that fail to pay taxes for at least two years or fail to file tax returns.

Once again, we see that liberals are all hot and bothered to force other people to pay taxes, but when it comes to their own, well, the tax man can wait, it seems.

Just ask Al Sharpton.

Follow Warner Todd Huston on Twitter @warnerthuston.

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Business

Google Officially Hit with Antitrust Probe by 50 State Attorneys General

The news confirms the leaks from various sources that the states were gearing up for the effort.

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Google has now officially been served with an antitrust probe by fifty state attorneys general, according to CNBC.

The news confirms the leaks from various sources that the states were gearing up for the effort.

“The probe includes attorneys general from 48 states, the District of Columbia and Puerto Rico. California and Alabama are not involved in the probe, Paxton said at a press conference,” according to CNBC.

“When there is no longer a free market or competition, this increases prices, even when something is marketed as free, and harms consumers,” Florida’s Attorney General Ashley Moody said. “Is something really free if we are increasingly giving over our privacy information? Is something really free if online ad prices go up based on one company’s control?”

An antitrust probe into Facebook was announced on Friday by New York Attorney General Letitia James, who will lead the case. Attorneys general from seven states plus the District of Columbia are participating in the Facebook investigation.

At the press conference Monday, D.C. Attorney General Karl Racine, a Democrat, said it “remains to be seen” if the two probes will be “a coordinated expansion.”

Google and other big tech companies also face efforts elsewhere to curb their abusive practices.

Congress is also gearing up to address the problem Bit Tech presents.

According to Fox News, “In addition, a new bill in the Senate called the “Monopolization Deterrence Act” would impose crippling fines on tech giants — ranging as high as 15 percent of the firm’s total U.S. revenues — if they were found to be in violation of antitrust law.

Meanwhile, evidence is piling up that big tech companies like Google and Facebook are abusing their near lock on certain channels of communication to push a strictly left-wing agenda instead of dealing with customers fairly.

It isn’t just governments and consumers that are becoming wary of Bit Tech. Even those giant’s own employees are worried.

According to Wired magazine, “Not only does the President, Peter Thiel, Elizabeth Warren and many other prominent lawmakers question Google’s ethics, but Google Employees do, too.”

The proclamation came after thousands of Google employees protested the company’s involvement in AI programs for military use.

Update: Tulsi Gabbard Tweeted this today:

 

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Ocasio-Cortez Is Upset World’s Most Valuable Company Is Investing In New York City

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How dare Amazon bring jobs to New York City! By adding 25,000 jobs they would become the 11th-largest employer in the New York City area.

Amazon said in its official announcement that it would create 25,000 “full-time high-paying jobs” and invest about $2.5 billion in its campus and related projects, including infrastructure and green-space development.

“The idea that [Amazon] will receive hundreds of millions of dollars in tax breaks… when our subway is crumbling and our communities need more investment… is extremely concerning to residents here.”

Daily Wire:

Socialist Alexandria Ocasio-Cortez is not happy that Amazon, the world’s most valuable company, has decided to invest billions of dollars and bring approximately 25,000 jobs to New York City.

The 28-year-old bartender turned politician responded to the news that Amazon is bringing a second headquarters to NYC by claiming, without evidence, that her community is “outraged.”

The Wall Street Journal reported Monday:

New York City and Northern Virginia will be the homes for Amazon.com Inc.’s second and third headquarters, according to people familiar with the matter, ending a more than yearlong public contest that started with 238 candidates and ended with a surprise split of its so-called HQ2.

Amazon is dividing the second headquarters evenly between New York’s Long Island City and Arlington County’s Crystal City neighborhoods, which are both located directly across from the major city centers. The company plans to evenly split the offices with as many as 25,000 employees.

The decision effectively gives Amazon a major presence in three coastal hubs that politically lean left, at a time when tech companies are under scrutiny for their perceived elitism and liberal social views. More

This is pathetic. A large chunk of her constituents live in abject poverty, but she’s complaining when a company is trying to bring jobs into the city? I wonder if her voters realize they voted for a dunderhead that will gladly keep them in poverty for her socialist ideals?

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BREAKING: Wages Are Surging As US Adds 250,000 Jobs In October

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The rapidly growing economy generated 250,000 new jobs in October, keeping the unemployment rate at a 48-year low and pushing the increase in worker pay to the highest level in more than nine years.

Average hourly wages rose 3.1 percent in October, the fastest annual gain since 2009.

Please spread everywhere and pounded it home in the final days before elections.

Hot Air:

Consider this the first of two gifts Donald Trump got this morning for next week’s midterm elections. The booming US economy added 250,000 jobs in October, well above expectations and a big jump from September’s revised sub-maintenance level of 118,000. Perhaps more importantly, wages jumped upward at the best pace since the start of the recovery in 2009:

Total nonfarm payroll employment rose by 250,000 in October, and the unemployment rate was unchanged at 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, in manufacturing, in construction, and in transportation and warehousing.

The unemployment rate remained at 3.7 percent in October, and the number of unemployed persons was little changed at 6.1 million. Over the year, the unemployment rate and the number of unemployed persons declined by 0.4 percentage point and 449,000, respectively. …

The average workweek for all employees on private nonfarm payrolls increased by 0.1 hour to 34.5 hours in October. In manufacturing, the workweek edged down by 0.1 hour to 40.8 hours, and overtime was unchanged at 3.5 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls, at 33.7 hours, was unchanged over the month.

In October, average hourly earnings for all employees on private nonfarm payrolls rose by 5 cents to $27.30. Over the year, average hourly earnings have increased by 83 cents, or 3.1 percent. Average hourly earnings of private-sector production and nonsupervisory employees increased by 7 cents to $22.89 in October. More

Joe Biden’s economic adviser:

Even CNN’s Christine Romans praised the October jobs report as “really strong”, noting that American company hiring has brought unemployment to a “generational low.”

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Business

Obama Tried to Stop It, But Under Trump U.S.A. Becomes World’s Top Oil Producer

President Barack Obama did everything he could to stop it, but now, under Donald Trump, the U.S.A. has become the world’s top oil producer.

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President Barack Obama did everything he could to stop it, but now, under Donald Trump, the U.S.A. has become the world’s top oil producer, according the the U.S. Department of Energy.

Crude oil production has soared in the U.S. in the last few years, so much so that America has jumped ahead of Russia to become the world’s top producer.

According to the Associated Press:

The Energy Information Administration said Thursday that the U.S. produced more than 11.3 million barrels a day in August, a 4 percent increase over the old record set in July.

Russia’s energy ministry estimates that country pumped 11.2 million barrels a day in August. OPEC reports Saudi Arabia pumped 10.4 million barrels a day.

It’s the first time since 1973 that the U.S. leads the world in oil production.

According to the report, Texas is the oil leader making up about 40 percent of U.S. oil production.

This could not have happened with President Obama in office. In fact, it didn’t. In 2016, as Obama was wrapping up his destructive 8 years in office, Forbes magazine called him “one of the most anti-energy presidents in U.S. history.”

“As if to put an exclamation point on this perception, last week the Obama Administration intervened to block an easement for the nearly completed $3.8 billion Dakota Access Pipeline (DAPL),” Forbes wrote. “This intervention was despite the fact that the U.S. Army Corp of Engineers had previously approved the easement across the Missouri River, and despite the fact that multiple pipelines already cross the river.”

And, remember, Obama spent his entire presidency trying to destroy the Keystone XL pipeline.

Even left-wing Politico reported in 2015 that Obama was engaging in a “quiet war on oil.”

“The newest phase of Obama’s environmental agenda has the oil and natural gas industry in its crosshairs,” Politico wrote, “with plans to curb greenhouse gas pollution from rigs and refineries, tighten oversight of drilling on public lands and impose a strict ozone limit that industry lobbyists slam as ‘the most expensive regulation ever.'”

Obama did his level best to destroy America’s energy industry. Well, traditional (meaning usable) energy, anyway. On the other hand, he wasted billions on useless “green energy” companies, most of which went belly up after stuffing our tax dollars into their pockets.

It took Trump to do all this. Once again, Trump is making America great again.

Follow Warner Todd Huston on Twitter @warnerthuston.

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