Obama's 'Grand Bargain' On Taxes Is Neither Grand Nor A Bargain

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Investors Business Daily:

Fiscal Policy: President Obama has proposed a "grand bargain" with Republicans: They get a tax cut for corporations, he gets more money to spend on worthless government stimulus. That's no bargain — that's surrender.

 

In the latest attempt by Democrats to disguise GOP capitulation as centrist "compromise," Obama said he'll sign off on a cut in the corporate tax rate from 35% to 28% — with an even lower rate of 25% for manufacturers — if Republicans will agree to spend more on Obama's "investments" and OK a tax hike on U.S. companies doing business overseas.

 

Republicans, beaten up daily by the mainstream press for being "extremists," might be tempted to take Obama's offer of what he calls a "grand bargain for middle-class jobs." They shouldn't.

 

To begin with, Obama's big spending — nearly half a trillion more per year — has met with zero success, so why pour more money into failure?