“Can GE CEO Jeffrey Immelt talk President Obama into a major corporate tax cut?” Lawrence Kudlow, writing for Rasmussen Reports, wants to know. As Kudlow says
Immelt has been appointed to the new Council on Jobs and
Competitiveness, which replaces the disbanded Paul Volcker Economic Recovery Advisory Board. Immelt was a member of that original board. Now he has a more elevated position in the Obama 2.0, allegedly pro-business move-to-the-center Clintonesque White House.
Kudlow admits that nothing Immelt has said to date could be characterized as a ringing endorsement for lowering corporate taxes; but he none the less believes his ex-boss will push this idea.
Anyone who has followed Conservatives On Fire for a while knows that I have called over and over again for the slashing of corporate taxes as a way to get our economy growing and to produce jobs. So you can believe I was salivating as Kudlow outlined what he hopes Immelt will be recommending to Obama. (Please read his article)
But my euphoria was short-lived. It dawned on me that strategically, if Obama/Immelt were to follow Kudlow’s recommendation and the projected results for the economy were realized, it would be very difficult to beat Obama in 2012. If Obama can claim credit for a surging economy and a significant reduction in the unemployment figures, that would almost guarantee his reelection.
Obama has recently indicated his interest making a Clinton like move to the center and naming his crony friend, Immmelt, to the Council on Jobs and Competitiveness may be a sign of his intentions. Therefore, I would recommend that the Republicans make a preemptive strike with their own bill to reduce corporate taxes before a recommendation comes down from Obama.
If the Republicans produce a tax reform bill and Obama pushes the Democrats to sign-on, he will still claim credit for all positive results, as he should but, at least, the Republicans can claim it was their bill. On the other hand, if the Democrats are the ones to introduce such a bill and it is the Republicans that have to sign-on, well we can kiss our chances of winning the White House in 2012 good-bye..
That’s what I’m thinking. What are your thoughts?