Tuesday, February 21, 2012

What Difference Will It Make?

Really. So what if the country installs Barack Obama back in the White House for another four years? How much different would a Republican president be than him? I would submit to you that despite the constant screeching and hollering the Republicans have done ever since Obama took office, that big business couldn't have a much bigger friend than that sham "progressive" who occupies the White House. What has happened on his watch that has not benefited our corporate overlords? Think about it. And now we read, that Obama is going to propose to Congress that the corporate income tax rate be dropped from its current 35 percent to 28. Here's the blurb:
The Obama administration will propose today reducing the U.S. corporate tax rate to 28 percent from 35 percent along with removing tax breaks for companies to help offset lost revenue, an administration official said.
The plan would eliminate dozens of tax breaks and reshape the current manufacturing deduction to reduce the tax rate on manufacturing to 25 percent, according to the official, who outlined the proposal on condition of anonymity because it hadn’t been released. The restructured tax code would still include incentives for research and development and renewable energy.
The second paragraph is the key . . .  do you seriously think this will happen? What victories over big business lobbies can the administration point to? . . . None that I can think of. So here's what I think will happen. The Republicans in Congress will refuse to pass anything the administration proposes along these lines--along any lines, really--because they refuse to give the president anything. Especially, especially in this an election year. I don't know how good the proposal is, but I do know this. I don't like the sound of lowering taxes on businesses with the promise of offsets that aren't just automatic, just on principle. Give the corporate interests half a chance and they will gut the hell out of anything worthwhile in this proposal.
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