Obama’s plan to link corporate tax reform, jobs spending quickly rejected by GOP

[UCmeNdc]

The White House’s attempt on Tuesday to propose a new deal to spend more on creating jobs in exchange for an overhaul of business taxes quickly devolved into the type of partisan finger-pointing that shows why any agreement will be so difficult.

With fanfare Tuesday morning, the White House touted a new “grand bargain” that would sidestep disagreements and focus instead on a longtime Republican goal: a rewrite of the business tax code that lowered corporate rates.

The overhaul, officials said, would generate new federal revenues that could then be used to pay for President Obama’s priorities, including hiring workers to build roads, bridges and other infrastructure.


http://www.washingtonpost.com/business/economy/obama-wants-to-link-corporate-tax-reform-jobs-spending/2013/07/30/02fd652c-f918-11e2-b018-5b8251f0c56e_story.html?wpisrc=nl_pmpol


The GOP said Nooooooooooo!

[djean111]

1. Staggers back in disbelief............

They want every bad thing Obama has ever proposed - and will not give on what would actually be good for the country.
I wish Obama, given that the GOP will posture and say no anyway, would propose jobs and infrastructure and strengthening Social Security by raising the cap (hey, surprised the banks are not strengthening my bank account by not letting me have part of it) - and maybe some brave stuff like increasing Social Security payments, letting Medicare negotiate with Pharma, and single payer. Close the doughnut hole right away. Stuff like that.
Then, at least, Dems running next year have something to run on - look what we could have but the GOP says no type of stuff.

[Rosa Luxemburg]

4. We need to call the Republicans out on this

ordinary people are going to lose out. It will be too late when they realize.

[tularetom]

2. "Lowering corporate tax rates" doesn't mean jack shit

Since the effective corporate tax rate (what they actually pay) is something like 12% it doesn't make any difference what the tax code says the corporate rate is.

Unless the "grand bargain" includes closure of some huge loopholes I won't get too upset that the republicans turned it down.

[Cali_Democrat]

3. True

Many very well-off corporations pay absolutely nothing in taxes. I think Obama knows this and so does the GOP. Lowering the corporate tax rate will make virtually no difference, but this was a chance to get a jobs bill through.

[1StrongBlackMan]

5. Actually …

You're leaving out something that means a lot … President Obama is proposing to lower the corporate rate AND closing loop holes (i.e., impacting the effective rate); so any negotiated point between the proposed rate and the 12% rate (your figure) will result in an increase in revenue.

Funny thing is, President Obama knows this AND the gop leadership knows this; but look at the box the gop finds themselves in … They have called, explicitly, for a lowering of the corporate rate because “it’s the highest (2nd highest) in the industrialized world.”

Well, guys here … you got it! Oh yeah … you can’t argue that the rate is the highest in the world and grouse at a proposal to lower it, without exposing yourself as having gamed the people, since you really weren’t paying, anywhere near, the highest in the world.

Plus, President Obama is tying what they said they want (and what the polls say the majority of the electorate supports) to something else the majority of the people want, JOB CREATION. The gop walking away from this proposal will further solidify in the peoples’ mind that the gop is most unserious about the things that matter to them most. Even the most anti of anti-tax republican will question why the gop blocked lower corporate taxes AND job creation.

Now … if only Democrats/liberals/progressives can just focus on this for 16 short months … we will have a shot at swinging this 17 seats in the House and possibly pick up 2 more in the Senate, which will mean we can get even more of what we want.

But alas, I fear, snowden or greenwald will say something, or issa will launch another scandal investigation and Democrats/liberals/progressives will do their regular.