Jason Furman, the chairman of the President's Economic Council, is presumably the principal advisor to the White House on economic policy. Today, he appeared on CNBC to give his views.
Furman would have been a perfect policy advisor to the old Soviet Union. He views businessmen as automatons, who have (and should have) no interest in profit maximization (pity their poor shareholders). For Furman, everything is a political agenda.
Furman's number one idea for boosting economic growth in the US is to raise the minimum wage. So much for being an economist. His number two idea is to punish corporations who have moved some of their business operations out of the US to avoid the absurd levels of US corporate income tax. If Furman gets his way, no rational corporation would ever headquarter themselves in the US, with chimerical and arbitrary policies, such as Furman advocates.
There must be something in the water around the White House that turns previously rational people into economic morons. This would explain Administration economic policy and the resulting feeble economic growth of the US economy. It is hard to stifle the US economy, but policy folks like Furman have succeeded with their proposals that serve only to convince rational business folks in America to sit this out until a rational Administration replaces these folks.