If you’ve got a business -- you didn’t build that.
Still, I have no doubt of Obama's sincerity. Let's bring in two ideas in response.
First, by way of counterexample, the WSJ looks at fracking in the United States and Europe:
What has given the U.S. its edge is that the early development risks were largely borne by small-time entrepreneurs, drilling a lot of dry holes on private land. These "wildcat" developers were gradually able to buy up oil, gas and mineral leases from private owners while gathering enough geological data to bring in commercial producers.
Take Texas's Barnett Shale, a particularly tight rock formation that had been eluding speculators for years. Houston-based Mitchell Energy & Development Corp. spent the 1980s refining horizontal drilling techniques, and by 1996 it was producing Barnett shale gas.
Jason Dvorin, a partner in the Dallas-based oil and gas leasing and exploration firm Dvorin LLC, recounts that when his father Sanford heard of Mitchell's success, he decided to go all-in, having also spent years chasing Barnett shale. In 1997, father and son began buying individual leaseholds for mineral, oil and gas rights at $25-$50 an acre. By the time they sold their productive leases at the end of 2007, Mr. Dvorin recalls, they were going for as much as $30,000 per acre. "Even today, in a depressed market, operators are still paying $1,500 an acre."
Now in ObamaWorld, these guys didn't invent oil, or cars, or the modern economy that uses oil in so many ways, so their tiny, tiny contribution to the general welfare should be ignored.
And the Times had an interesting piece on Penny Pritzker and the perils of being rich and an Obama backer:
Ms. Pritzker’s commitment [to Obama 2012] has become a matter of mystery and consternation among some Obama supporters struggling to recreate the success of the 2008 finance team that she led as chairwoman. Though she is assisting with the re-election campaign in a number of ways, Ms. Pritzker — whose family owns the Hyatt hotel chain and is active in charitable and Jewish causes — is less visible, has cut back on fund-raising and has told friends that she is intentionally doing less.
For Ms. Pritzker, her high-profile backing of Mr. Obama came at an unexpectedly bitter cost. Their relationship made her a punching bag for the labor movement, which targeted her for what union officials call exploitative practices toward housekeepers by the Hyatt hotels.
She had drawn business and Jewish leaders to support Mr. Obama, but when many of them turned hostile toward the president because of his policies, some directed their ire toward her, even though she had her own criticisms, too.
The anger amounted to a “triple assault” on Ms. Pritzker, said William M. Daley, who succeeded Mr. Emanuel as chief of staff. “She’s borne the brunt of a lot of the attacks,” he said.
“Often the big picture is not understood on where the president wants to go,” Ms. Pritzker said in a telephone interview. “That’s frustrating.”
For Mr. Obama, Ms. Pritzker’s wealth and business experience are huge assets but also potential liabilities. He considered nominating her for commerce secretary but did not, because her fortune risked making her radioactive. She does plan to join him on the campaign trail this month, but that could prove awkward, given that the president is pounding Mr. Romney for some of the same practices of which Ms. Pritzker or her family business is accused — housing significant wealth in offshore trusts and treating workers poorly.
Basically, Team Obama values her money but not her presence, since bashing the rich is the only message thay have left. Ooops.
Let me dive into the comments and channel my inner James D in response:
Romney - or his surrogates - need to counter garbage like Zero's speech yesterday with something like "successful business are successful because they DO give back. They give back by producing things that people want and need and that make their lives better. They give back by employing workers who can then support their own families and their communities. And they give back by already paying hundreds upon hundreds of taxes and fees and registrations. The businesses pay corporate taxes. Their owners and their employees pay income taxes. The owners and the employees pay social security taxes and medicare taxes. They pay state income taxes. They pay fuel taxes when their trucks deliver products out into the world. They pay sales taxes when they buy the materials to produce their products, and customers pay sales taxes when they buy those products. All these successful people are already giving back in ways that the President, who's never worked for a business, or directly employed anyone, or produced anything that any consumer could concievably want, never has and never will."