than it was now. i would have too. i totally agree with you. but where he cut rates this time, ali, he cut the corporate rates from 35% to 21%. you remember reagan cut the corporate rates from 46% to 34% and then george bush raised it to 35%. but over the years every other country in the world had been lowering the corporate tax rate so we were by far the highest in the oecd. cutting the rate from 35% to 21% was a big, big deal. except the loopholes, wouldn t it be great if we had a lower tax rate and everybody paid it. now we have a problem and i have great respect for you so i want to put curve up that says if you cut taxes at a certain point, you will receive revenue. we have not seen that saefrlt of th as a result of this last tax cut. i don t know why you say that but let me say from the day he
on that horizon knowing that confidence is with us. there it is, a little side by side comparison. let s bring in the friday panel. conventional wisdom going to be set here. before we get to the convention, how much, john harwood, do you think this jobs report stepped on the president s speech? not much. i think it s not helpful to the president. it s a weak number. but we ve known the job market is weak. it would have only made a difference if it was catastrophically low, like negative. it s not much of an asset for the president and i think the, this was baked into expectations. it was interesting to watch the grading of the speech. romney was graded on a curve up.
patti ann: . what are we looking at? reporter: yesterday, skwr ep a we had this thing moving across cuba and making kind of a curve up towards tampa where of course we have a very big convention happen next week, and i m sure they are all biting their nails wondering what is going to happen with isaac. in the short term we dakotas specht this to be a tropical storm, the name isaac. we expect it to be a hurricane. a tropical depression, getting better organized, conditions more favorable for development. taking a look at the track as of 11:00 this is the very latest as we head into wednesday, becoming a tropical storm, and then moving towards the lesser antilles, becoming a hurricane. and further out in time the cone of uncertainty gets wider as we head into friday and saturday. category 2 hurricane making its way perhaps across cuba and of course all eyes are on florida, because florida could be next in line. that cone of uncertainty, the tropical storm models that make up that cone,