Obama's Lower Corporate Tax Rate

Across the board, all the morning's headlines read something to the effect: "Obama to lower the corporate tax rate from 35 to 28 percent." Obviously, this sounds good because American corporations currently pay the second highest tax rate in the world and this makes them less competitive in the world marketplace. But, if one reads further, the new tax rate, along with the elimination of tax loop-holes and the addition of new tax penalties, will actually raise federal tax revenues by $250 billion over 10 years. This isn't a lowering of taxes. It's just another Obama scheme to rearrange the tax code to increase taxes; while, at the same time, giving green technologies the same kind of loop-holes that Obama plans to steal away from other businesses. Once again, the President is betting on losers like Solyndra and the Chevy Volt while punishing the real tax payers in our economy.