Charles Payne

The War on Business has been unrelenting during this administration, and with a little more than two years left (and the love affair of executive orders), the battles will become more intense. The issue is clear. Currently, the dream of a “fair” society is where people get paid for not working and those that dare excel are summarily punished.

Such a society will be doomed and by definition, has to blaze a trail of destruction in route to Armageddon….i.e. Think back to the breadlines in the USSR. Think about being so broke, a nation would consider selling a national treasure like the Acropolis. Think lost clout, lost dreams and being stuck in the 1950s like Cuba.

During the trip to such inevitable conclusions, fair societies eat up a lot of money. The architects must also make sure to keep allies well-funded – in this case, unions must gain more members and greater access to corporate profits. In all, the Obama Administration has used a variety of weapons to prick businesses.

IRS

In addition to the Lois Lerner scandal, the IRS has been wielded as a weapon against businesses since President Obama entered office. Coverage rate – number of audits as a percentage of total returns filed – soared from 2009 to 2011.

  • +36% $200,000+
  • +94% $1,000,000+
  • +32% $10,000,000 to $50,000,000

EPA

The War on Coal has been well document and destructive, but the worst is yet to come. According to the US Chamber of Commerce, new EPA rules will have devastating consequences well beyond the coal industry.

  • -$51 billion to GDP annually
  • -224,000 Jobs annually
  • -$586 billion in disposable household income through 2030
  • +289 billion increase in household electricity costs through 2030

The Department of Justice is getting rich, taking the lion’s share of a series of fines against banks for their role in the housing bubble, even if the industry was nudged into riskier business by government rules and threats. Executive orders and czars have also played a massive role in usurping business rights and slowing growth and opportunities.

Unleashing NLRB & New Bulls Eye

For years, the left attacked Wal-Mart as the ultimate catch for unionization and Poster Company for the evils of capitalism. Their efforts have failed, so now there’s a new target: McDonald’s. The fast food restaurant chain is the real catch in the campaign about income inequality and higher minimum wages.


Charles Payne

Charles V. Payne is a regular contributor to the Fox Business and Fox News Networks. He is also the Chief Executive Officer and Principle Analyst of Wall Street Strategies, Inc. (WSSI), founded in 1991 which provides subscription analytical services to both individual and institutional investors.