CEO to Workers: I May Fire You if Obama Wins(finance.yahoo.com) |
CEO to Workers: I May Fire You if Obama Wins(finance.yahoo.com) |
Also, he seems a little confused as to whether he's upset as a business owner over taxes and health care, or as a wealthy individual who fears class warfare ("people that overspent their paychecks suddenly feel entitled...", etc).
The former might have some legitimacy in terms of hiring costs (though I suspect the numbers are overblown); but the idea that the latter would affect hiring is laughable. Business owners hire people for exactly one reason: that they can make more money from an employee's labor than what they pay out. The idea that a move from a marginal rate of 36% to 39% would mean no longer wanting to make money at all is simply absurd.
Now, to be fair, we have no way of knowing if 3% is too much for his risk profile. It may or may not be. But, business risk is also difficult to estimate. As it is, it is difficult enough for the business owner. What chance does a bureaucrat who never owned a business or worked a normal job have?
But it's also a straightforward breach of both regular and business ethics to attempt to use one's position of authority to intimidate one's employees into voting a particular way.
And it's just plain incontinent to issue a letter like that, considering that both Obama and Romney are planning to cut the corporate tax rate. By about the same amount, too.
Ha. Thanks for calling attention to that, I had totally missed it. Perhaps Mr. Siegel had a habit of napping during civics class?