(H/T: Big Government) As in, you hated them (and lobbyists) with the passion of a million burning suns, you wanted them broken, and you decided that your guy would wash the Washington stables clean?
Yeah. About that. From the Wall Street Journal:
Raising taxes on the overseas profits of American firms has been a central plank of Barack Obama’s agenda since his campaign for President in 2008. The proposal was featured in the President’s budget in February and was the focus of a May speech in which he said that corporations were “shirking” their responsibility to support his huge increases in federal spending through higher tax payments.
But as this newspaper reported Tuesday, the Administration appears to have shelved the plan to limit business use of the current deferral of taxes on profits earned overseas.
We should point out, however, that this policy reversal wouldn’t have happened without ferocious opposition by businesses exercising their Constitutional right to petition their government. The Administration likes to portray lobbying as a dirty business, but in this case it seems to have been educational in saving President Obama from an economically damaging blunder.
(Background here) Ouch. Tough luck, there. On the bright side, at least the President kept his promises when it came to…
Help me out, here?
Crossposted to Moe Lane.