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Marlin Steel president Drew Greenblatt on discussing the fiscal cliff and economic competitiveness with President Obama.
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President Obama met with some of the nation's top CEOs on November 14.
And here on markets now on that day we after -- small business CEO drew Greenblatt what he would tell the president.
President Obama if he raises the taxes.
And the burden on American entrepreneur -- and American job creators what's gonna happen is we're not gonna be able to be competitive we're gonna lose jobs we're not going to be able to hire locals.
Well maybe President Obama was watching fox -- that day because of this afternoon that same drew Greenblatt will be among small business leaders meeting with the president.
Welcome back with a sound through -- black.
The biggest question I have for you is do you think that the president is having -- there today to listen to what you have to say what's -- there.
To preach to you about what.
He have to say.
I hope we're gonna take this opportunity to -- have a dialogue so that Americans can have a plan so we can get out of this recession.
We got to increase job creation fast this recessions gone on too long and now's the time for us to turn it around.
By creating -- -- we have a wonderful opportunity.
To turn this economy around and get everybody focused.
On growing their businesses and hiring people as opposed to watching -- and mudslinging.
Both seems like -- they have a lot of -- right now President Obama wants to raise taxes on.
People who earn over 200000 dollars a year -- police say -- today about that idea.
To the challenge is this.
Most American factories are organized like a small business where they pay on a personal level.
So when you we increase our already high rate.
From let's say 35 or 40% to a higher rate.
What happens is it makes us less and less competitive against our economic adversaries like Canada and Germany.
Right now American factories are paying much more money in taxes.
Then our German and our Canadian rivals.
We have to be more competitive if -- more competitive.
Will win more jobs if were more competitive will hire more locals.
And then what will happen is the recession will quickly end.
But works spending one point one trillion dollars more in -- -- that the government collects in taxes what we do about that if we don't raise taxes.
It's unsustainable we we have to cut we have to cut spending aggressively.
Because that is in new -- a hidden tax on us in the future.
Ultimately we're gonna have to raise taxes to get that money back later that's a failed strategy in a failed policy.
What we need to do is have a very competitive economic environment and have growth surge in our country.
Then will pay more money in taxes because we'll all be making more money if if the pie is big or.
It's easier to grow out of this terrible recession.
OK if if Obama doesn't raise tax rates but they Bob -- deduction so that you end up paying more taxes anyway net net.
Is that okay with you.
But I think if you're taking away money from job creators that's not a good thing.
People that are out there every day -- there're there're you know we have.
-- -- mortgages on our equipment on our buildings and what happens is that we are already strange because of the recession so we need relief.
So that were more competitive.
We have to be in a position so -- we have we have the flexibility in the nimble -- to creating new marketing campaign.
Build more equipment right.
Hire more -- you know hire more employees.
-- -- you've -- -- well or not she wanted to buy a 4000 dollar well the job -- -- what they're doing what hope you get the chance to give your message to the president today -- -- black thanks for being with us.
And come back tomorrow -- -- -- how went.
I'll keep you posted okay.
