Economy: The latest annual report from the Harvard Business School on the state of U.S. competitiveness says political gridlock is getting in the way of strong economic growth. What it fails to mention is that Democrats are the ones blocking the pro-growth proposals the report advocates.
The latest HBS report paints a bleak but accurate picture of the current economy -- lackluster economic and productivity growth, an incredibly slow rate of job creation...
...no meaningful progress on the critical policy steps to restore U.S. competitiveness...
...Don't believe it? Look at the eight-point plan itself and ask yourself which party supports or opposes each:
Simplify the corporate tax code and lower the statutory rate. Move to a territorial tax system like all other leading nations. Ease immigration of highly skilled individuals. Aggressively address distortions and abuses in the international trading system. Improve logistics, communications and energy infrastructure. Simplify and streamline regulation. Create a sustainable federal budget, including reform of entitlements. Responsibly develop America's unconventional energy advantage.
...Obama never lifted a finger to enact the kind of corporate tax reforms...
...Trump's economic plan, in contrast, is far closer to what the HBS envisions...
...corporate tax reform the HBS report proposes...
He has called for streamlining regulation, and while his anti-trade rhetoric is worrisome, he at least has promised to get tough on countries that cheat on trade. Where Trump falls short is on immigration and entitlements.
The HBS is right that the U.S. economy is suffering from federal policies that impede growth and harm U.S. competitiveness. But attacking both political parties as if they share equally in the blame is unfair and unproductive.
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