Obama’s term has been great for business, argues Ezra Klein

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Ezra Klein notes that claims that President Obama’s policies have hurt businesses are significantly exaggerated.

“Let’s start with the idea that the Obama administration sees businesses as piggybanks. Since 1950, corporate tax receipts have averaged 2.7 percent of GDP. In the Obama years, they’ve averaged 1.16 percent of GDP… Going forward, the Obama administration’s budget envisions corporate tax receipts rebounding to about 2.4 percent of GDP — again, beneath their historical average… After taxes, corporate profits amounted to 6.9 percent of GDP in 2010 — their highest level since 1966… That’s a mighty odd outcome for an administration that supposedly sees the existence of private businesses as an unpleasant side effect of the government’s need for tax revenues, don’t you think?”

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.