Obama May have Found Religion when it Comes to Corporate Taxes

I think he might have picked up an actual economics book and not something written by some socialist "economic thinker." This idea makes so much sense I am surprised it came out of the White House Council.

Executives on Mr. Obama's Export Council last month said the U.S. corporate-tax code, with its top rate of 35%, puts U.S. companies at a disadvantage against rivals from countries where tax rates are lower. To be sure, many companies don't pay that top rate. The panel recommends a federal rate of 20%.

A blue-ribbon fiscal commission appointed by Mr. Obama also recommended sharply lower corporate tax rates, along with elimination of targeted business tax breaks. 

The idea that we should charge all corporations less taxes while at the same time eliminating stupid tax breaks makes a lot of sense. The only reason that most companies have those targeted tax breaks in the first place is because they have powerful lobbyists or come from a state with a powerful Senator. Most of them make no sense in the first place and are just an example of Congress picking winners in the economy. However, getting rid of some of them will be a monumental so hopefully the GOP are up to the task.