Taxes were 91% on the top bracket when I was a kid. It was 50% through
most of Reagan's two terms. It's 35% now.
Who did you say are being punished?
>The highest corporate tax in the world...
The top STATUTORY, or nominal rate. But with all the breaks, such as a
better depreceiation terms under US tax law, our rates are virtually
identical to those of the other 14 largest countries (we're all around
27.2% in real terms). And the percentage of our GDP represented by
corporate taxes are one of the lowest.
You can slice this cheese in a variety of ways, and I'm not up for
battling statistics, but the point is that our corporate tax rate has
nothing to do with our competitive position in the world.
If you want a source, this is one. It's not MediaMatters, the tables
and data actually are from the Congressional Research Service, and I'm
not up for chasing down the original:
http://mediamatters.org/research/2012/05/01/the-truth-about-the-us-corporate-tax-rate-the-r/184586
If you want a contradictory view, from the conservative American
Enterprise Institute, it's here:
http://www.aei.org/article/economics/fiscal-policy/taxes/report-card-on-effective-corporate-tax-rates/
Personally, I think the AEI figures are badly biased because they
don't weight economies by their size. But that's an arguable point.
It's true, however, that small countries have lower corporate taxes.
And that's just a race to the bottom. Small countries try to buy
business investment by shifting costs onto their consumers -- or by
depreciating their incomes (and quality of life) to buy jobs. Think of
Arkansas as a nation.
>, EPA, OSHA and attacks by the
>government on every front. Until the government quits trying to make
>EVERYBODY dependent on the gov. for their existence in exchange for Dem.
>votes...we are fucked!
I don't agree that government is *trying* to make people dependent on
it. There is a huge disagreement about which services government
should provide. I find it funny right now, amidst the tragedy, that
the two senators from Oklahoma who voted against providing FEMA funds
to restore NJ and NY after Hurricane Sandy are clamoring for extra
funds to restore Moore, OK after their tornado. "Oh, but it's
different," they say. Yeah, right....
As for EPA and OSHA, I've come to believe that the only way they can
get anything done is to push for excessive regulations. A compromise
on the cleanup of the Duluth area of Lake Superior would mean, I
suppose, that they'd just leave it half dead. A moderated position on
cleaning up the steel industry around Gary, IN would mean that you'd
only have to turn your headlights on 50% of the days that are sunny
and bright ten miles to the north or east. Remember Gary in the '60s?
Remember Pittsburgh? You'd think they had painted the entire city
black.
And let's not forget your very own Cuyahoga River. Even before it
caught on fire, not even algae would grow in it. And it dumps into
Lake Erie, which it damn near killed off. Shall we moderate the EPA's
regulations about that, so that the river can grow a healthy crop of,
say, anaerobic bacteria and nematodes?
Business management has a fiduciary responsibility to push costs off
its back, to externalize costs as much as possible so that someone
else pays those costs. Apple's executives just reminded us of that
yesterday. So they'll always push for less regulation. Which means
that EPA, OSHA, and the others will always have to push for more.
Otherwise, they become industry captives, regulations become a joke,
and the whole thing goes to hell. Hmm...like the SEC, perhaps.
I've been looking for nematode recipes, but nothing looks good to me.
BTW, if this is too many words to suit you, I'll try the Usenet
approach next time if you prefer, and just yell "Bullshit!"
--
Ed Huntress