Disney Opposes Biden Tax Increases … Gosh

 by Ray Keating

Commentary

DisneyBizJournal.com

September 4, 2021

 

When The Walt Disney Company signs on to the latest political cause favored by liberal activists, the company receives praise … or at least the company hopes to be praised … from those political corners. However, when Disney opposes an effort favored by the Left, the criticism, of course, comes swift and hard.

 

We’re seeing the criticism juicing up as Disney is part of a wide business coalition opposing the various tax increases proposed by President Joe Biden and Democrats in Congress, including increasing the corporate income tax rate by 40 percent, from 20 percent to 28 percent.

Getting involved in political issues always ranks as a dicey proposition for any business. And while lots of people talk about “corporate social responsibility,” there are assorted problems with such undertakings, from the risk of angering and chasing away part of your customer base to the ethical questions regarding corporate managers using shareholder dollars to fund their personal causes.

 

But the effort by Disney and seemingly countless other businesses regarding the Biden tax plan is an obvious case of businesses basically being forced to engage in the political process, such as via lobbying and advertising, to stop legislative measures that will directly hurt the company and its owners.

 

There is nothing nefarious about such undertakings by businesses, despite efforts by some to paint them that way, such as in a recent Washington Post story that verges on presenting rather standard responses by businesses to damaging legislation as a kind of conspiracy by business to hurt the little guy. 

 

Of course, President Biden, whose administration has been unrelenting in hammering away at large businesses, is presenting his tax increases on business somehow as tax cuts for the little guy. Never mind that this makes no sense. Never mind that tax increases on business are never good news for individuals seeking jobs and increased earnings. After all, entrepreneurs, businesses and investors create jobs, and make investments that enhance worker productivity and therefore worker incomes.

 

So, with the Biden administration, Democrats in Congress, and their many political allies pushing for increased tax burdens on business, the business community must respond. It would be irresponsible not to do so. Indeed, it was the same case when the Republican Trump administration and its allies pushed protectionist measures that reduced opportunities in international markets and raised costs for business.

 

The decision of whether or not to engage on a political issue should be easy for companies like Disney. It shouldn’t be about the personal political preferences of company executives. Instead, it should simply be based on whether or not the issue or proposed legislation will impact the business. If so, then engage for or against as called for; and either way, get back to business, that is, innovating and serving your customers.

 

__________

 

Ray Keating is the editor, publisher and economist for DisneyBizJournal.com, and author of the Pastor Stephen Grant novels and assorted nonfiction books. Have Ray Keating speak your group, business, school, church, or organization. Email him at raykeating@keatingreports.com.

 

The views expressed here are his own – after all, no one else should be held responsible for this stuff, right?

 

Keating has three new books out. Vatican Shadows: A Pastor Stephen Grant Novel is the 13ththriller/mystery in the Pastor Stephen Grant series. Get the paperback or Kindle edition at Amazon, or signed books at www.raykeatingonline.com. Past Lives: A Pastor Stephen Grant Short Story is the 14th book in the series. Again, get the paperback or Kindle edition at Amazon, or signed book at www.raykeatingonline.com. And order the 15th book in the series What’s Lost? A Pastor Stephen Grant Short Story – grab it at Amazon.com or signed editions at www.raykeatingonline.com. 

 

Also, check out Ray’s podcasts – the Daily Dose of Disney, Free Enterprise in Three Minutes, and the PRESS CLUB C Podcast.

 

You also can order his book Behind Enemy Lines: Conservative Communiques from Left-Wing New York  from Amazon or signed books  at RayKeatingOnline.com. His other recent nonfiction book is Free Trade Rocks! 10 Points on International Trade Everyone Should Know. 

 

Please support the efforts of DisneyBizJournal.com to bring news, analysis and commentary on Disney to readers such as yourself. Make a contribution right here via PayPal. Thanks!

Could Tokyo Olympics Turn Into the “Disney” Olympics?

 by Ray Keating

Analysis/Commentary

DisneyBizJournal.com

January 30, 2021

 

The Tokyo Summer Olympics Games were supposed to happen in 2020. But COVID-19 had different ideas. Now, the Tokyo 2020 Olympics are scheduled to open on July 23, 2021. But questions swirl as to whether or not Tokyo will be able to pull it off, and whether or not the Japanese people actually want it to happen. 

 

That, in turn, has led to speculation in certain circles that the Olympics could find their way to Orlando. Could the Tokyo Olympics become the “Disney” Olympics? That’s highly – and I mean highly – unlikely.

Concerns and speculation about the Games have flourished due to a combination of a spike in COVID-19; emergence of new virus strains; a slow rollout of vaccines; and polls earlier this month pointing to significant opposition or doubts about the Games among the Japanese. As AP reported, “More than 80% of people in Japan who were surveyed in two polls in the last few days say the Tokyo Olympics should be canceled or postponed, or say they believe the Olympics will not take place.”

 

The Tokyo Games would mean the arrival of some 15,000 athletes and thousands more related personnel and media. That makes lots of people uneasy, to say the least, during this pandemic.

 

Of course, when there’s trouble, you can usually count on politicians stepping in to either make matters worse, or to take advantage of the circumstances somehow. Hence, we have Florida Chief Financial Officer Jimmy Patronis ginning up attention by offering Orlando as an option for the Summer Games. After all, there was the NBA bubble, so why not the Olympics? And lots of people come to the area, so why not the Olympics – and on very short notice without any money or planning? Make sense? Not really. But what the heck, this is politics, right?

 

For good measure, as noted by The Wall Street Journal, the Japanese and the Olympics are looking to the U.S., including President Biden, to give assurance that the U.S. Olympic team, and therefore, NBC Olympics television money, will be supporting and attending the Games. And given that Japan is a key U.S. ally, it’s highly unlikely that the president would pull the rug out from under Tokyo hosting the Olympics, in particular, by warming up to the Olympics being moved to Orlando.

 

The International Olympic Committee (IOC) apparently isn’t prepared with an alternative plan for putting on the Games this summer. So, the options seem to be to hold the Games in July, or perhaps a slight delay, in Tokyo; officially cancel the 2020 Games; or push them to the other side of the 2022 Winter Olympics.

 

So, while a Disney Olympics in 2020 seem more about political grandstanding than being a serious option, the IOC faces some serious challenges and decisions. 

 

Oh, yeah, and by the way, the 2022 Winter Games are scheduled for a year from now in Beijing, China. That’s right, China. Human rights abuses already are raising questions about those games. Also, I’m pretty sure that Orlando isn’t equipped to host the Winter Games.

 

__________

 

Ray Keating is the editor, publisher and economist for DisneyBizJournal.com, and author of the  Pastor Stephen Grant novels and assorted nonfiction books. Have Ray Keating speak your group, business, school, church, or organization. Email him at raykeating@keatingreports.com.

 

The views expressed here are his own – after all, no one else should be held responsible for this stuff, right?

 

Keating’s new book Vatican Shadows: A Pastor Stephen Grant Novel is the 13th thriller/mystery in the Pastor Stephen Grant series. Get the paperback or Kindle edition at Amazon, or signed books at www.raykeatingonline.com. 

 

You also can order his book Behind Enemy Lines: Conservative Communiques from Left-Wing New York  from Amazon or signed books  at RayKeatingOnline.com. His other recent nonfiction book is Free Trade Rocks! 10 Points on International Trade Everyone Should Know. 

 

Please support the efforts of DisneyBizJournal.com to bring news, analysis and commentary on Disney to readers such as yourself. Make a contribution right here via PayPal. Thanks!