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FNC political analyst Ed Rollins, Moody’s Chief Economist John Lonski and psychiatrist Dr. Keith Ablow on the politics behind Obama’s corporate ta...
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Now to discuss the political the economic and yes the psychological considerations behind the president's policies and their consequences.
We welcome to the broadcast Ed -- leading Republican strategist Fox News political analysts Moody's chief economist John Lonsky.
And psychiatrists Fox News contributor doctor keep I have walked.
I wanna turn first -- primate.
Job issue looked at first then the proposal that we now have before us and that is a -- The corporate tax reform for polls or what is most compelling about it you.
Well the good news it is Obama wants to go ahead and lowered the -- the top corporate tax rate 35% to 28%.
But.
As was mentioned earlier we don't wanna lose sight of the fact that in doing so to make it revenue neutral at least they have to close a lot of loopholes.
So it could be that I met there may be not much of -- change in the overall tax bill of US corporations.
Without further growth by profitability.
And we should point out that last year the the effective detector that is what corporate America did pay of its profits was just over 12%.
We should not deny them.
Their ability to maneuver in these difficult that got a really sentiment.
That really stands out if you look at the US treasury -- -- you wouldn't believe that.
That corporate profits are growing as rapidly as they are given the fact that corporate income tax revenue declined last year.
Doctor have -- That the White House is making much of the fact it's not reacting to what is projected to be a major.
Policy speech by governor Romney Friday at the Detroit Economic Club.
-- yet if it's irresistible.
That the first these corporate tax proposal today.
Is tomorrow.
Broadly and energy.
Proposal from this president whether much of it is you were not.
-- why this defensiveness in the White House.
If you what.
Well I think it's kind of the argument don't look at the man behind the curtain.
It's okay to be cynical.
Because the cynicism should -- a lot of people at this point.
It is -- moment when somebody intent on investing the government with more control.
In cutting the free market.
Down at the knees.
Would.
Give some meat though to those who want to see a nod.
Toward lowering these taxes.
It does take the steam out of Mitt Romney's speech perhaps a little bit it tomorrow and I think it's a calculated maneuver.
Not only because of the political moment but because of the psychological moment.
Barack Obama can advance these ideas which by the way may not change anything financially for corporations are actually be tougher on them.
Because he can do it.
Big knowledge and that the American public will then perceive him as not so left leaning not so socialist leaning when in fact.
In a progressive fashion that's exactly where is heading.
I can't tactical you for -- Doctor Who was you hear and I mean.
Is it is Romney being Smart here -- going.
Coming to us from the economics club of Detroit.
On Friday here tactically is the White House.
Making a mistake or are being brilliant here in in trying to preempt a first drop.
Romney should have been making these kinds of speeches for the last several months and he is the business -- It's running here and he basically came out of the plan earlier these -- not talked about for months and and so.
My sense is two weeks ago -- -- perfect times a week and before.
The primary is is it looks to political.
I think what this inning victory in this White House has done -- the last year and a half has been political one Ronald Reagan asked -- to -- his reelection it was march where we did you Begin.
The -- -- campaign in place and we were in very bad shape and we end that went on 149 states.
So I think these guys been running a campaign for two years.
And they they basically overreacting to everything that's being done -- -- the side.
Are you consider this an over reaction for this president to come forward with an energy policy response which hadn't been planned our our obviously.
And suddenly to announce the treasury would have a -- Corporate tax overall it's it's not it's not it's not -- politics and it's not good economics and I think that's that's the issue that I make with -- we're very critical period our country.
I think this present each provide leadership he knows the congress is not gonna give him he single thing the next remaining months before the election and I think this is already.
