Wednesday, June 15, 2011

Naked Capitalism Link of the Day

Today's link: U.S. Chamber's Tom Donohue tells Atlanta Rotary how business is faring in D.C., at the Saporta Report.  Yves said to read the last few paragraphs, and it was worth it:
Surprisingly, Donohue did advocate for tax increase. “I do want to increase the federal gas tax,” he said. “We haven’t done that in 18 years.”
Because vehicles have become so much more fuel efficient, drivers — including truckers — have been paying about half of what they used to pay in gasoline taxes. More revenue is needed to properly maintain the nation’s roads and highways. Donohue proposed increasing the gas tax by 5 cents a year for four years.
To those who would oppose such a gas tax increase, Donohue’s message was simple. “Don’t pay it,” he said. “Stay home.”
For much of his talk, Donohue was quite critical of the Obama administration. But he did praise the work that Jeffrey Immelt, CEO of GE (General Electric), is doing as head of Obama’s economic advisory panel.
In one of the funnier moments during his Rotary talk, Donohue was asked if Congress was going to raise the debt ceiling.
Yes, it will be raised, Donohue answered, mainly because the country can not afford to not pay its bills. To those newly-elected representatives who say they aren’t going to raise the debt ceiling and will shut down government, Donohue said the U.S. Chamber has its own message: “We’ll get rid of you.”
He then went on to praise U.S. House Speaker John Boehner for his Congressional leadership.
“He’s growing into his shorts,” Donohue said. “He’s put on his big boy pants.”
I think it is interesting that he is pushing a gas tax increase.  I would assume the construction companies who support the U.S. Chamber would like to see some work.  But even better is the warning to the Tea Party that if they cut off government spending to businesses and contractors, they will be defeated.  This should be fun to watch.  In other words, vote for tax cuts and decreased regulation, but don't take the money the government spends with us.

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