Friday, February 10, 2012

Obama Floats Lower Corporate Tax Idea

Uncharacteristically, Barack Obama will advocate for lowering of the US corporate tax rate after years of complaining corporate tax rates are too low and the evil corporations should pay their fare share.
President Barack Obama will call for cutting the top 35 percent corporate tax rate as early as this month, according to two sources close to the administration.
Has Obama finally come to his senses and realized high corporate tax rates actually chase corporations into the arms of less taxing countries and that corporations don't actually pay taxes, people (customers) do?
Facing a potentially tough presidential re-election challenge this November, Obama will propose cutting the rate following the release of his 2013 budget plan on Monday, February 13, according to the sources, who were not authorized to speak on the record.
No, I guess not. Not with a potentially tough presidential re-election campaign dogging him.

But wait! There's more! A 2013 budget plan is in the offing, too. Oh, my lord! This man is running more scared than Dr. Richard Kimble. Early in his White House residency, it was predicted that sometime, quite accidentally, he would do the right thing. The time appears to be here, but let's not allow him to continue beyond November as he will only undo the little good he may haplessly bumble into doing.