For a while now I’ve been convinced that Republicans dislike Obama for at least two reasons: the first is because many of them are racist assholes. The second, and I believe more salient, reason is simply because Mr. Obama is a far better Republican president than any of their hopefuls would be. Consider the following:
- Obama did not close Guantanamo, though he may have wanted to at first.
- Obama has been fairly friendly to resource development interests: Chopping down trees? Check. Drilling for oil? Check. Water resource development? Check.
- Obama killed Osama. Personally? I wouldn’t rule it out.
And now, best of all, Obama is offering to lower the corporate tax rate. Yes, you heard that correctly, although I don’t know why you’d be surprised; did you skip the bulleted talking points?
The administration plan to revamp a corporate code that is widely derided as inefficient and anticompetitive has been in the works at Treasury for two years, and is a priority of Mr. Geithner. Yet he has been preoccupied with crisis management, and is unlikely to see the project through since he plans to leave office after this year.
The proposed overhaul “will help level the playing field for businesses and allow the government to collect needed revenue while promoting economic growth,” Mr. Geithner told a Congressional committee last week, without details.
Naturally, since it’s Obama, there’s going to be trouble with congressional morons–sorry, Republicans–over the rate. They’ll likely seek a 25% rate, and they’ll definitely want the loopholes and subsidies to stay in place. Because that’s how American corporations pay next to nothing in income tax, despite bitching about how high our tax rates are.
Personally, I see nothing wrong with revamping the tax code to make it equitable and competitive. But since “equitable” and “competitive” are not synonymous with “fattening a rich asshole’s bank account,” it’s not likely that we’ll ever see anything of the sort.