Kudlow’s Enthusiasms, Novak’s Realisms

By November 1, 2007Taxation

From Kudlow’s blog commentary at the National Review Online:

Right now, President Bush ought to hold a news conference and say that he is intrigued with Charlie Rangel’s idea of cutting the corporate tax — not all the other high-tax bells and whistles, but the corporate-tax-cut idea.

Mr. Bush could say that now’s the time to insure continued economic growth in the face of soft spots like the housing recession and the subprime credit freeze. And since Europe has been cutting corporate taxes and the euro has been going up, its time for the U.S. to cut its corporate tax to be more competitive, help the sagging U.S. dollar, provide investment and worker wage boosts, and promote overall economic growth.

On the other hand, Kudlow’s temperamental opposite, Robert Novak, mentioned Rangel’s prospects in his column today about House Speaker Nancy Pelosi.

WASHINGTON — A story told in cloakrooms of the House of Representatives shows how ironic life on Capitol Hill can be. Jim McCrery, the low-key, hard-working ranking Republican on the Ways and Means Committee, has spent all year trying to establish good relations with the tax-writing committee’s first Democratic chairman in 12 years, Charles Rangel. He succeeded, only to discover that Rangel does not really run Ways and Means. Nancy Pelosi does.

Rangel, a crafty New York politician, so far looks like the weakest Ways and Means chairman during my 50 years in Washington. That’s only because Pelosi so far is the most powerful speaker of the House during that same period, a reality obscured by her historic role as the first woman to hold that office. She does not confer with or defer to standing committee chairmen, whose predecessors made previous speakers dance to their tune.

Seems like there should be still room for productive discussions on taxes.

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