Corporate CEOs looking to curry favor with the ascendant Obama administration are speaking out, claiming that raising taxes on the top two percent of income earners won’t hurt the economy. At an event at the National Press Club organized by the Aerospace Industries Association – a defense lobbying firm seeking desperately to avert the 20% defense cuts mandated by the fiscal cliff – FedEx Chairman and CEO said that the idea of tax hikes killing jobs was “mythology.” How he explains the failure of the European Union’s economic scheme was left unmentioned.
Other Obama sycophants included Joe Echeverria, CEO of Deloitte LLP, who just met with President Obama last week. “There needs to be some revenue element to this,” he said. “[Obama] started with rates on what we would define [as] the upper two percent … that we have to pay our fair share. And I think everybody was in agreement with that notion.” AT&T CEO Randall Stephenson, who met with Obama at the White House last week too, said that averting the fiscal cliff would require “an increase in both tax rates and revenue.”
And as for Goldman Sachs CEO Lloyd Blankfein, who has made a fortune during the Obama administration thanks to Goldman’s central involvement in Obama’s inflationary money schemes, said after meeting with Obama, “if we had to lift up the marginal tax rate, I would do that.”
The theme here is clear: corporate heads want to be in league with the man with the power. The man with the power is Obama. And so they’ll give him his tax hikes, hoping that the alligator eats them last.