Dept. Of Not Credible Rhetoric

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THE STASH MAY 5, 2009

Dept. Of Not Credible Rhetoric

From the Times piece on Obama's plan to close loopholes multinational corporations use to avoid taxes on income they earn abroad:   

The changes, if enacted, would take effect in 2011, when administration officials presume the economy will have recovered from the recession. But business groups were quick to condemn the White House for proposing tax increases amid a global downturn.

“This plan will reduce the ability of U.S. companies to compete in foreign markets, which will not only reduce jobs, but will also cripple economic growth here in the United States. It couldn’t come at a worse time,” said John J. Castellani, president of the Business Roundtable, a trade association of major businesses.

Hmmm. Wouldn't, you know, now be a worse time? Even if you dont think the economy will be booming in 2011, it will presumably be stronger than it is today...

--Noam Scheiber

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