I Knew There Was A Reason: The Big N-FIBs

I did have a reason to never join either the Chamber of Commerce or the National Federation of Independent Business, because at the moment N-FIB is a very accurate acronym.  The NFIB has a radio spot which makes three unfounded assertions, presenting them as “facts.”  The N-FIB would also like us to know that they support members of  Congress like Senator Heller and Representative Heck (R-NV3) because they support “job creators.” [NFIB]

N-FIB: We should all support the GOP because, according to N-FIB, the Stimulus (the one under the Obama Administration) was a failure and didn’t create jobs.

FACT:  The American Recovery and Reinvestment Act was successful at saving and creating jobs in the U.S. economy, and there are at least three credible estimates demonstrating the fact.

Those who prefer their information in graph form, should find this illuminating:

N-FIB:  The Affordable Care Act hurts small businesses.

FACT:  The N-FIBbers must have missed a few parts of the Affordable Care Act, like if you have up to 25 employees, pay average annual wages below $50,000, and provide health insurance, you may qualify for a small business tax credit of up to 35% (up to 25% for non-profits) to offset the cost of your insurance. This will bring down the cost of providing insurance.

And this: “Under the health care law, employer-based plans that provide health insurance to retirees ages 55-64 can now get financial help through the Early Retiree Reinsurance Program. This program is designed to lower the cost of premiums for all employees and reduce employer health costs.”

And this: “Starting in 2014, the small business tax credit goes up to 50% (up to 35% for non-profits) for qualifying businesses. This will make the cost of providing insurance even lower.”

And this: “In 2014, small businesses with generally fewer than 100 employees can shop in an Affordable Insurance Exchange, which gives you power similar to what large businesses have to get better choices and lower prices. An Exchange is a new marketplace where individuals and small businesses can buy affordable health benefit plans.”

And this: “Employers with fewer than 50 employees are exempt from new employer responsibility policies. They don’t have to pay an assessment if their employees get tax credits through an Exchange.”  [HHS]

N-FIB: The Obama Administration impedes businesses with burdensome regulations.

FACT:  “Obama’s White House approved 613 federal rules during the first 33 months of his term, 4.7 percent fewer than the 643 cleared by President George W. Bush’s administration in the same time frame, according to an Office of Management and Budget statistical database reviewed by Bloomberg.”  October 25, 2011  [Bloomberg News]  How about 2012?

So far, Obama has actually finalized fewer regulations than either Clinton or Bush at the same point in their terms. A wave of new final regulation is now slated to take effect in 2013. But some of them will be rolled out regardless of who’s in office, due to Obama-passed legislation that’s already in motion.” [WaPo]

If we drill down to specifics we find that there are two categories of rules the Republicans dislike enough to warrant attaching their “job killing” label — (a) Clean Air and Clean Water regulations, and (b) financial sector reform.

Republicans are particularly opposed to the provisions of the Sarbanes-Oxley Act (Bush Administration) enacted in the wake of the Enron Debacle to prevent further corporate frauds and shenanigans.  They are opposed to the enforcement of the Dodd-Frank Act, Senator Heller would like to see the bill restraining Casino Capitalism repealed even though only about 31% of the provisions have been implemented.

Those believing that a return to the Casino Capitalism of Enron, Lehman Brothers, the Housing Bubble, and the consequent collapse of investment banking in the United States in 2008 is desirable should definitely vote for Republicans like Representative Heck and Senator Heller.

Those who believe that some common sense restraint is in order to prevent the Wall Street Casino from re-opening to create the next artificial bubble out of “an excess of enthusiasm” — and who are mindful of what happened to the financial sector beginning in 2007 — will probably find the Democratic Party position more sustainable.

The exploiters and polluters don’t care for regulations on emissions and dumping.   It would certainly help the corporate bottom line to avoid paying for emission control devices, and to be able to dump coal ash anywhere that might be convenient.

However, those who prefer to drink clean water and breathe clean air should look carefully at what the Republicans are proposing.  Those who like hunting or fishing in unpolluted surroundings will find the Democratic Party positions more amenable to their interests.

Suggesting that mileage standards for automobiles should be clawed back makes absolutely no sense at all.  American and global vehicle manufacturers are touting their fuel-saving products.   The 2013 Dodge Dart advertises its 41 mpg capability [AutoBlog] Nissan is planning on building its Leaf in American plants,  Subaru wants to launch more STI models, Mazda plans a 2014 Mazda6 model mid-size sedan with better fuel mileage. [TCCGeneral Motors is pleased tell its customers that “Our engineers are reinventing the automobile, developing advanced technologies that lead to improved fuel economy, less emissions and a reduced dependence on petroleum.”   Among GM’s goals are the development of 12 vehicles having at least 30 mpg capability, the development of two mode hybrids, further development of fuel cell technology, and the expansion of its Opel Ampera and Chevrolet Volt models.

The ultimate irony may be that while the Republicans want to roll back fuel standards, the automobile manufacturers are hiring people to work on new models with fuel efficiency capability higher than the proposed standards.

At some point a small business owner would have to ask — What is achieved by “unburdening” the oil companies if the result is a fleet of delivery trucks  or even personal vehicles, which cost more to operate?

There are three parts to the N-FIB radio ads, and all three are demonstrably false.  Little wonder I never paid any dues into the organizations that purport to have my best interests at heart — but continue to lie to me, and others.  No amount of advertizing can buy integrity.

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Filed under 2012 election, Economy, employment, financial regulation, Heck, Heller, manufacturing, Nevada politics, pollution, Republicans

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