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A Grand Bargain?

July 30th, 2013 - 7:45 am

We’ll get more details in the speech later today, but that’s what the preview looks like:

Hoping to break an impasse, President Barack Obama today will extend a new offer to congressional Republicans in which he would back an overhaul of the corporate tax system in exchange for a guarantee that a resulting one-time windfall be used to underwrite various job creation proposals.

Mr. Obama will lay out the plan in a speech he is to deliver in Chattanooga, Tenn., in a bid to win over Republican lawmakers who’ve opposed White House requests for new spending on roads and bridges and other projects aimed at boosting employment.

What we need is tax simplification across the board — not just cuts for business. And I suspect the Democrat side of the bargain is just more of the same shoveling tax dollars at Democrat interests we’ve seen the last few years. If that sort of thing created jobs, we wouldn’t have an employment problem at all.

The GOP would be smart instead to propose the Omnibus Do-Over Act of 2013, in which damn near everything enacted since 2001 is repealed. That’s eight years of Bush’s stuff to only five of Obama’s, and both sides would benefit from the resulting economic boom.

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All Comments   (5)
All Comments   (5)
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Well cuts for business - to zero - would simplify the tax code. Most of that code is defining what is and is not taxable income. Tax the money (including ink-kind compensation) when it hits a human being and give everyone a standard deduction. Can't get much simpler than that.
1 year ago
1 year ago Link To Comment
So, do we tax employees when they go on a business trip for the cost of the flight / hotel room / rental car? No? Then we still have to have a tax code that figures out what's an "allowed" business expense.

Or do we let a company rent a penthouse suite, and let the CEO live there tax free?
1 year ago
1 year ago Link To Comment
"he would back an overhaul of the corporate tax system in exchange for a guarantee that a resulting one-time windfall"

Thank you President Obama, but we're done now.

"resulting one-time windfall" == "tax increase". Not going to happen. "Revenue neutral", "cut taxes", or no deal.
1 year ago
1 year ago Link To Comment
I like it. "Repeal the horrid Bush policies that got us here in the first place!" How could Democrats refuse?
1 year ago
1 year ago Link To Comment
Watch the hand, not the toy.
1 year ago
1 year ago Link To Comment
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