President Obama rolled out a new tax reform plan earlier this week. And while the plan has been kicked off the front page thanks to international turmoil and skyrocketing gas prices, there is still plenty of reaction. South Carolina Rep. Mick Mulvaney sits on the House Budget Committee and the House Small Business Committee. He says any cut in the corporate tax rate is welcome but he’s bewildered as to why Obama wants to significantly raise taxes on overseas corporate profits. Mulvaney says some companies want to bring that money home to invest in the U.S. but won’t because the government will take a huge bite out of it. Rep. Mulvaney is also no fan of higher taxes on small businesses but he’s pleased the president finally seems to be defining what he means by ‘fair share’ in that small businesses and the wealthiest individuals will be paying around 40 percent to the federal government. The congressman believes that percentage is far too high and he’s also disturbed by new reports showing that almost 50 percent of Americans pay nothing in federal income taxes.
Archives for February 24, 2012
‘War Against Fossil Fuels’
Ohio Rep. Bill Johnson is mincing no words in expressing his frustration with President Obama and his energy agenda. Johnson says Obama is pursuing energy policies that frustrate businesses rather than partner with them to grow the economy. Johnson rips Obama for ignoring our own vast natural resources while pumping billions into failed ‘green energy’ firms like Solyndra. Johnson is particularly incensed at what he considers a crippling regulatory burden coming from the federal government – regulations that that have already closed multiple coal-fired power plants. Rep. Johnson also highlights what House Republicans are doing to increase domestic energy and bring soaring fuel costs back under control.
Three Martini Lunch 2/24/12
Greg Corombos of Radio America and Jim Geraghty of National Review are encouraged that the Republican nominee should have no problem explaining how President Obama is clueless on energy policy. They also chide Jeb Bush for saying Republican presidential candidates are appealing to emotions and fears of the voters. And they discuss how the very same liberals who preach tolerance are usually very intolerant themselves, as evidenced by New York Times columnist Charles M. Blow telling Mitt Romney to “stick it in your magic underwear”.