Norquist, Rendell spar over taxes, infrastructure spending

He cited General Electric as an example — $13 billion in profits and zero taxes paid.

Lawmakers on Capitol Hill are increasingly calling for the deficit-reduction supercommittee to at least begin the process of tax reform during its deliberations. 

At the same time, President Obama is getting plenty of push-back from Republicans and even some in his own party about possible tax cuts — Democrats are concerned about the effects on Social Security if the payroll-tax cut is extended — and increases, such as those on individuals who make $200,000 or more a year and households that make at least $250,000, as a way to pay for the White Houses proposed $447 billion jobs plan.

Norquist and Rendell also hit on infrastructure spending, which has been a top agenda issue for the former governor; tax rates; and the federal budget during a Battle for the Future debate hosted by the National Journal.

The 2009 economic stimulus created more than 25,000 jobs in Pennsylvania from $1 billion in infrastructure spending, Rendell said, according to a report in the Journal. 

He called the funding a short-term fix and called for the private sector to join with government to invest in long-term infrastructure investments. 

He said $200 billion invested over 10 years would create 5 million jobs.

Our economy would take off again, he said.

Norquist likened the stimulus to a sharing-the-wealth policy that wont create economic growth.

It doesnt work, Norquist said.