Someone should check for
mysterious pods lying around the residence of the White House, Barak Obama is
proposing a lower corporate income tax rate.
This 180 degree reversal from everything the president has ever
previously said ever, anywhere, at any time can only mean one of the following:

• The
  President has been replaced by an alien replica that actually understands jobs
  creation and economics.
• The
  President awoke today and thought, “I really do want to get re-elected.”

Or

• Actually
  I can’t think of a third option.

Today, Treasury Secretary
Timothy Geithner, heretofore staunchly opposed to any economic policies that were
not based in complete lunacy, said the current tax system is bad for business,
bad for job-creation and said that Mr. Obama’s new shiny plan to reduce the
corporate tax to 28 percent would make the tax system more globally
competitive.

It’s strange but I’ve heard this
idea some where else.  Who was it that said this
before, oh yeah, it was:

Mitt Romney

Newt Gingrich

Rick Santorum

Ron Paul

Rick Perry

Jon Huntsman

Michele Bachmann

Herman Cain

Thaddeus McCotter for crying
out loud

Sarah Palin

John McCain

Every living breathing human being
associated with the TEA Party

Every Republican member of
the U.S. Senate

Every Republican member of
the U.S. House

Every Republican

Every sane American

Every one who has ever had a
real job in America

Currently the U.S. corporate
tax rate is the second highest in the world, surpassed only by Japan. That rate sits at 35 percent. Now President Obama wants to lower the rate
to 28% and offer Manufacturers incentives (can you say Rick Santorum?) to make
their effective tax rate even lower at 25%.

The take-back from the Administration
is that corporations would have to give up loop holes in the tax system that
allows corporations like GE to skirt on payment of taxes. You go, Mr. President! That’s stuff straight out of Conservatism
101.

Further, corporations would pay an
additional fee on foreign earnings. Woo
Hoo! An incentive to create AMERICAN
JOBS!

Is Barack Obama leaving the
Democrat Party or just finally shifting toward center in anticipation of November?

“We want to restore a
system in which American businesses succeed or fail based on the products they
make and the services they provide, not on the creativity of their tax
engineers or the lobbyists they hire,” Geithner said.

Meanwhile however, lest you
think Barack has put down the Kool-Aid altogether, these tax cuts are part of
an overall plan to raise taxes on evil millionaires and on those super-duper
rich people making more than $200,000 per year.  These are the tax increases which could more accurately be dubbed the “Achieving the American Dream Tax” or the “Envy Tax.”

It should also be noted that while Obama was front and center announcing the payroll tax cut that raids Social Security, he was nowhere to be seen or quoted on the corporate tax cut. 

When Obama proposes something without firing up the teleprompter, it’s a sure sign that he wants to keep his distance in case the rabid left comes unhinged and he has to walk it back.

Deficit Issues –

AP Reports: “Reducing the corporate tax rate from 35
percent to 28 percent would reduce tax revenues by about $700 billion over the
next decade, according to an estimate prepared in October by the Joint
Committee on Taxation, the official scorekeeper for Congress.

“That means lawmakers would
have to find about $70 billion a year in tax increases to keep the package from
adding to the budget deficit, hardly an easy task. In 2010, the corporate
income tax raised a total of $278 billion, according to the Internal Revenue
Service.”

What Reagan Taught Us –

Reducing the corporate tax
rate inevitably would mean that more people would go back to work which would
increase the tax base. People with no
jobs, no income, living on federal assistance don’t pay taxes.  It also means the federal expenditures to
support out of work Americans would be reduced dramatically over the next few
years as our nation climbs its way out of the “stimulus” depression.

The major flaw in Obama’s
move is that it fails to go far enough (like Santorum’s, Romney’s and Gingrich’s
plans) and won’t stimulate job growth as much as a deeper cut would. However this is one of the few signs that the
president is willing to consider moving toward a more Conservative approach
that might actually create jobs.

The GOP should go along with
Obama’s corporate tax cuts without all the usual whining and posturing and just
thank President Obama for starting to think like a conservative. Take the high road, commend the President for coming around to sane thought.  Slap him on the back and welcome him into the political center, even if his visit there will be short-lived.

Heck, send him a GOP T-Shirt
while you’re at it.

Now if we could just get the president
to stop hating domestic oil drilling and inciting class warfare.   Well now that would be science fiction.

Seriously? In the Oval Office?

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About Ethan Edwards

Ethan Edwards is the Senior Writer for
TheCypressTimes.com.

Edwards’ work focuses on topics ranging from
Christian opinion, national news, world news,
Christian Persecution and politics.

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