Fictional job numbers from the administration? I’m shocked. Of course, if we had a press corps that was a watchdog, instead of a lapdog, they wouldn’t continue to get away with this sophistry.
[Update a few minutes later]
“Drop dead, American business:”
So the question is, why does Obama advocate a policy that so flies in the face of everything that economists have learned? How could Obama possibly say, as he did last month, that he wants “to see our companies remain the most competitive in the world. But the way to make sure that happens is not to reward our companies for moving jobs off our shores or transferring profits to overseas tax havens?” Further, how could Treasury Secretary Tim Geithner call a practice that top scholarship has shown increases wages and employment in the U.S. “indefensible?”
I have to admit I am at a loss. Maybe it is good politics to bash American corporations, and Obama isn’t really serious about making this change happen. But if the change is enacted, and domestic corporate taxes aren’t reduced to offset the big tax hike, the result will be a flight from the U.S. that rivals in scale the greatest avian arctic migrations.
As I said yesterday, it’s Munchausen By Proxy. By keeping the economy permanently sick, they hope to entrench their power, as FDR did.
[Update early afternoon]
Cue the laughter. It’s pretty sad when Chinese students are a lot more business savvy, and understand basic economics better than our own home-grown press. Or the US Secretary of the Treasury…