Uncertainty, Investment Climate and ‘Greedy CEOs’

By September 28, 2010Economy

People are used to hearing epithets like “greedy CEOs” on the campaign trail, but on the Senate floor?

Senate Majority Leader Harry Reid, Congressional Record Page S7456 (our emphasis):

When that funding gets to where it is going, as many as one-half million people who are looking for work today will soon be on their way to a new job. We fought so hard for this bill against such stubborn minority opposition because we know we have to do everything we can to get people back to work. That means we have to work just as hard to create new jobs as we have to protect existing ones. It means that when a corporation tries to take away someone’s job in Nevada and send it halfway around the world, we have to stop them. We cannot let the greedy CEOs do that anymore, and that is exactly what we are going to do this week. We are going to take away the incentives that our corporations have to send our jobs overseas and give them powerful new incentives to keep the jobs right here in America.

Then there’s this:

Let’s use this week to remember whom we work for: middle-class families and the hard-working people who built this country and will rebuild it toward recovery; middle-class families and not corporations that take advantage of tax loopholes at their expense; American workers and not foreign companies that want to take away their jobs.

It’s very difficult to see how this kind of rhetoric creates an environment conducive to investment and hiring in the United States.

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