Meanwhile iguanaman, that was a bit glib. Obviously OMB has no scored it, or if it has, Obama ain't saying. The only number yet said, is $50 Billion on infrastructure.
And here's the supply-side foolishness in it: lower corporate tax rate; lower still for manufacturing sector enterprises. Pure supply-side idiocy.
Let's say you're Columbia Sportswear and buy in China, or the like. Will you raise your cost-to-produce, lowering your profit, merely to save some points on your taxes on profit? NO!! It would be idiotic.
We are not competitive in unskilled manufacture. But we have companies who make products that can be manufactured here and be competitive, and will, since close-in manufacture has myriad efficiencies, not to mention stricter oversight and QC. Everyone who can make a buck manufacturing here is already here or will come here. Those who cannot will manufacture elsewhere, since the name of the game is more and not less profit. So these cuts are merely gifts in the form of more after-tax profit, at a time that profits are already at a record and companies are rife with retained earnings and cash-on-hand, which they have not and will not pay to employees they do not have to, nor hire employees they do not need, even if they can afford them. And they will not invest in an opportunity that is not there!!! It's just more money, which will be hoarded by a few, and not invested back into the economy by being spent.
IT'S STUPID!!!!
