Obama’s ‘Grand Bargain’

President Obama recently offered Republicans a “grand bargain” -- lowering the corporate tax rate, apparently from 35 to 28 percent, and closing some loopholes in return for new “investments” in jobs.The economy unquestionably needs help. Unemployment is 7.6 percent and economic growth is stuck below 2 percent. But the president is offering an inadequate reform in exchange for a damaging one.The shiny bauble Obama is holding out to Congress -- the prospect of reducing the corporate tax rate by seven percentage points -- isn’t enough to turn around the dismal economy. With one of the highest corporate tax rates in
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