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Marlin Steel president Drew Greenblatt discusses his meeting at the White House on job creation and competitiveness.
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-- after joining us on markets now at noon yesterday drew Greenblatt president of marlin steel went on to the White House for a meeting with other small business leaders.
And he's back to tell us how that meeting went thanks for being with -- drew so you're ready to meet with the president himself to give -- -- Minded -- don't raise taxes and -- gonna hurt small business hiring.
Tell us what happened next.
Well we had a meeting it was three hours long in the White House they had several advisors of the president present one of them being Valerie Jarrett.
-- -- but where it was the president himself.
That the president did not join us I was hoping he would he was he visited with some of the larger companies like Wal-Mart a couple weeks ago.
I was hoping he was gonna come visit with us it's important because small businesses -- the big job creators and our country the big businesses are not gonna create a huge amount of jobs.
This is small business attributed create -- -- -- of jobs that we need to end this recession.
Archie didn't get a chance to talk the president directly Valerie Jarrett chose not -- mood to listen or in -- -- to preach.
Well she she discussed with us that she wants to get a deal done she wants -- the president wants to get a deal done.
And that they hope that they can get the middle class tax cut enacted right away.
And she's she felt confident that a deal could be hat I think there -- six big takeaways from the meeting.
This is a group of many different Smart business people throughout our nation.
And six themes I think -- -- one of them was a sense of urgency.
They really wanted the government and and to come together and get a deal done.
No more kicking the can down the road let's end the the uncertainty let's get a deal done let's make something big happen.
And let's make it happen fast -- not wait months and months let's get it done right away -- second second big take away was.
That people wanted some growth in the mix that it just didn't wanna be all bad medicine -- we're hearing talk about that at all yet what ever know that -- Obama -- -- debate to cut corporate taxes that come up for the meeting yesterday.
No into -- there was some chatter about cutting corporate taxes and I actually mentioned.
To Gene Sperling as chief of staff.
That most Americans.
The factories are organized as small businesses 70%.
Of factories organize a small businesses.
So when you raise the top rates you're actually impacting.
Factories that's the tax for factories so I think that disconnect needs to be.
That circle needs to be closed.
Do you think any progress came out and I mean isn't this White House going to raise taxes on business what you're against no matter what.
-- I I think the medical device tax that was reconsider that there's chatter there -- such push back on that topic.
Because it creates health in our country and it creates jobs that won't -- that might be reconsidered.
And they said they were gonna bring that up to the -- highest echelons of government.
Also the capital gains tax there's a tremendous amount of push back because a lot of venture capitalists a lot of Angel investors.
They count on a low corporate gains tax so that they can invest in these start -- would -- create a lot of jobs in our country despite warm.
-- that scoffing at that notion and his New York Times.
Op Ed yesterday.
Well what about that three point 8% tax on that medical equipment they'll let let let's note that while the drug makers of the pharmaceuticals went along with the White House agreed to spend hundred million dollars of corporate money.
On advertising obamacare.
The medical -- -- guys had organization they -- didn't play along and they get slapped with a three point 8% tax not on their profits.
On their relative -- not had a -- CEO of of a medical -- maker Atlantis it will basically wipe out most all of her profits it's a horrible thing can't begin to lift.
It didn't exactly that was -- huge push back in this meeting for that because people said look if if I'm -- only making -- 2% profit.
-- your automatically putting the underwater.
And the market doesn't want us to raise prices matter fact he wants to cut prices so this is a bad time to have a three point 8% surcharge.
On this activity and a particularly believe -- US history this is yeah they can't make this stuff in China and Bob medical residents imaging equipment -- and that the tumor -- the way they can in the US President Obama is apparently meeting in person.
With small business more small business leaders today what do you want them to tell him if he's in a mood illicit.
Why I I think I think they have to make our country competitive they have to reconsider.
The how job creators fund their company's state funded.
By having -- war chest of cash and if that's depleted.
By higher taxes.
They can't hire more people they can't buy more equipment.
They can't come -- with new innovations.
So it's imperative that we keep we keep reinvesting and we keep hiring people this is how America's gonna -- recession and so -- true.
It's that's not it really has alluded the president we got to wrap thank you very much for being whether he's congratulation on your visit to the White House.
Thank you Carol well just -- the last few moments ever about.
