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President Obama slays anti-business myth

Earl Ofari Hutchinson | 5/22/2013, 10:22 a.m.

But this is little more than a political footnote to the bigger story that Obama supposedly was out to strangle big business with draconian business-killing regulations, hyper-inflated government tax and spending and the wild expansion of entitlement programs. This propelled Wall Street and corporate campaign money bundlers and GOP-connected corporate super PACs to dump millions into GOP presidential foe Mitt Romney’s failed campaign.

This was no surprise. The mildest criticism of big business and the wealthy have long brought howls of socialism. The American economic sacred cow is that laissez-faire wealth is tantamount to a divine right of kings, and any attempt to touch it is economic heresy. Politicians know it is a kiss of death to be seen as an advocate for tax and income fairness.

Obama has spent much time in assuring the GOP, Wall Street and corporate leaders that he is willing to cut government excess and compromise on tax reform that targets the rich. This isn’t enough to stop the veiled talk that he’s the sworn enemy of business.

But this talk can’t scrub away the fact that Obama and Democratic presidents have been far better friends of big business than GOP presidents have ever been.

Earl Ofari Hutchinson is an author and political analyst.