4/16/2011

Ron Johnson's Tax BS Doesn't Fly With Expert

at 4/16/2011 Posted by Thurston Howell III

2 comments:

Sunny Badget said...

I've been wondering about this...what if we just eliminate corporate taxes and that the taxes out of the individual? Capital gains, income, interest income, etc. would all be taxed the same. That apparently would eliminate the need to go bill the Intel factory in China.

Of course, Intel et al might still want to build offshore because of cheaper labor and laxer environmental regulations. So why don't we just reduce the minimum wage to the lost levels paid in the Third World countries and eliminate all environmental regulations that would make Intel et al move offshore. That way we can be more competitive.

Of course the air might be a bit dirty and the water a little more dangerous to drink. But there are trade offs to be made. Ultimately, the US would once again become the greatest industrial powerhouse in the world.

April 16, 2011
Thurston Howell III said...

"Of course the air might be a bit dirty and the water a little more dangerous to drink. But there are trade offs to be made. Ultimately, the US would once again become the greatest industrial powerhouse in the world."
I hope this is tongue in cheek? So America would become great again cause of what? Manifest destiny?
I heard a radio program explain why the rich keep getting richer. Most of their income is unearned income like capitals gains which is taxed at a lower rate than earned income. That's why Warren Buffet pays a lower percentage of his income in taxes than his secretary.

April 17, 2011

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