Making the tax code fairer and flatter will accomplish the Trump administration's goal of draining the swamp by weakening the power that corporate lobbyists have in Washington. The corporate side of the tax ledger, which has created a policy status quo in which some industries are taxed at a 35 percent rate while others pay no taxes, is a horrid mishmash of social engineering and corporate welfare. Lowering the rate and broadening the base will stop the government from picking winners and losers and fire a warning shot across the bow of the corporations whose tax rate is determined more by their lobbying teams than by smart policy.
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It's a shame our system is so corrupt. Flat trade protections would help encourage domestic investment. Then we could reduce the income tax and businesses wouldn't need incentives to invest here.
ReplyDeleteFlat protections would solve many problems.
Flat protections
DeleteI don't recollect this being discussed......?
It wasn't, but it's related to "making the tax code more fair".
DeleteTo improve the US economy, domestic investment is needed. We have little investment today. Large US businesses are still focusing on outsourcing to foreign polities.
So, the government steps in to entice investment. It's part of the problem.
Many issues are related. They say a sign of fanaticism is that a person sees every issue as related to his obsession, but that's largely true with trade.
If a business can't compete, it's going to leave whether it wants to or not. So, either taxes must be cut, wages must fall, or some other cost must fall. Another option is border taxes (eg. trade tariffs).
If a business can't compete, it's going to leave whether it wants to or not. So, either taxes must be cut, wages must fall, or some other cost must fall. Another option is border taxes (eg. trade tariffs).
DeleteMake sense. Reminds me of: :)
23. " Tarif"
When the Saracens and Moors, in the 8th century invaded and devastated the rich and beautiful provinces of Spain, they were commanded by a general whose name was Tarif, who had but one eye (See Anquetil's Universal History) - Our Tariff must be a descendant of this infamous destroyer, and inherits his defect of having but one eye, as it can see but one interest, and in one direction."
(I found the above quote on microfilm at the Tarboro Library, but I either failed to write down the source, or there was none. Also, I failed to write down the date, but remember that it was well before the War, 1823/1833 sticks in my mind. BT)
http://www.namsouth.com/viewtopic.php?t=75&highlight=tariff