Beware the President’s Bait-and-Switch on Corporate Tax Reform

In his latest pivot to jobs and the economy, the President spoke yesterday in Tennessee.

Much of his speech was tax-spend-and-regulate boilerplate, but he did repackage some of his ideas into a so-called grand bargain.

He said he’s willing to cut the corporate tax rate in exchange for a bunch of new spending on things such as infrastructure (he didn’t specify whether it would be “shovel ready” this time) and dozens of “innovation institutes” (as if the notoriously sluggish and inefficient federal government can teach the private sector about being entrepreneurial.

In theory, however, such a deal might be worthwhile. It’s not a good idea to add to the burden of federal spending, of course, but if there’s a big enough reduction in the corporate tax rate, it might be worth the cost.

http://finance.townhall.com/columnists/danieljmitchell/2013/07/31/beware-the-presidents-baitandswitch-on-corporate-tax-reform-n1652791?utm_source=thdaily&utm_medium=email&utm_campaign=nl