Kudlow: WH dismissive of business complaints

July 26, 2010

From the Great One, Larry Kudlow:

Then there’s the confidence-threatening war between business and the White House, which is also related to the liberal tax revolt. It’s still a battle royale between the nation’s business leaders and the administration over taxes, spending, regulation, and trade.

Treasury man Geithner made lite of this war at a Christian Science Monitor breakfast this week. A Daily Caller headline read: “Geithner Bored by Complaints from Business about Obama Policies.” White House chief of staff Rahm Emanuel also doesn’t seem that concerned. In a Wall Street Journal interview with Jerry Seib, Emanuel was a bit more conciliatory about reexamining regulatory issues, but he was still inconclusive.

There are two big things that businesses want right now: One is an across-the-board corporate tax cut, including cash expensing for investment. This is the single most powerful job-creator of all. The other is a senior business executive in one of the key economic policy slots in the White House. Neither of these requests seems to be on the table. But to conclude that the White House is burying the hatchet with business you’d have to see these conditions met.

So far it ain’t happening.

2 comments

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As usual, the Great One gets it right on. The Obama administration is hopeless; they will never understand business. Perhaps after the upcoming mid-terms Mr. Obama will get a dose of reality and smarten up, like Bill Clinton back in 1994.

Posted by Gotthardbahn | Report as abusive

Starting to get boring; big corps want a big tax break, but what have they done to deserve one? They ship out all the jobs to the third world; they have so many loopholes in the tax code that nine-out-of-ten pay miniscual to no tax at all; they continue to spend liberally on lobby groups and advertising (TV news spots included) that somehow make them seem to be victims.

What I would propose in the face of all this propoganda is an offer of a flat-tax/no loophole policy for corporations: 15% (less than half what it is now), no deductions, take it or leave it. My guess is – with no loopholes to exploit – they will leave it and move on to exploit the developing world more fully.

PS: Kudlow is not the Great One; Wayne Gretzky is! Kudlow is a minor thinker who has been too insulated to have a fair taste of reality, but at least he can debate in earnest which is very important for real progress to be made in America. I will say this in Kudlow’s defence he was the first to make Cramer look like the utter buffoon, double-talking hedgie whore that he is. But I digress…

Posted by CDNrebel | Report as abusive