Of Course You Know This Means War Part 2

Looks like the trade war is off. Good thing too. With the US having the second highest corporate income tax and facing “the worst economy since the great depression”, my guess is it would have become a “quagmire.”

Last night Mr Obama gave a strong signal that he would remove the most provocative passages from the Bill.

“I agree that we can’t send a protectionist message,” he said in an interview with Fox TV. “I want to see what kind of language we can work on this issue. I think it would be a mistake, though, at a time when worldwide trade is declining, for us to start sending a message that somehow we’re just looking after ourselves and not concerned with world trade.”

2 replies
  1. Dimsdale
    Dimsdale says:

    Isn't this what they are supposed to do BEFORE the bill is submitted to the whole Congress?  Kinda like fully vetting your cronies before you nominate them to embarrass your administration?

    Obama could get a lot of "street cred" if he put his foot down and put the best interests of the country ahead of the election payback and Democrat vote buying.  

    Sort of an unofficial line item veto…

  2. davis
    davis says:

    Jim puts a guess in, as usual and Dimsdale seems to ignores the fact that Congress writes legislation and the President can only influence and react. Great commentary.

    BTW, do you think that if corporate taxes were lowered the corporations would use the money for expansion/investment or make the same stuff or simply drop it to the bottom line to get bigger bonuses? I have noticed that CEOs do not exactly have my best interests in mind the last few years.

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