Hillary couldn’t hold a candle to Margaret Thatcher.
I think lowering the business tax rate is a great idea. It will boost EPS, increase FCF, help small businesses grow, and incentivize people to incorporate in the US which will, in turn, create more jobs. It also would give businesses more flexibility to increase wages, which obviously will increase spending and spur economic growth.
^ thats what they say will happen, in reality all that will happen is companies will announce a new round of buybacks. Companies cant even find compelling projects to invest in now, with a ton of new cash its not like they suddenly will find some. All these old money companies arent innovating at all and this wont change that
why would you when your government insulates you from competition? This is the single biggest impediment to organic growth. Small business formation is nowhere to be found in this cycle. If I could enact one policy to get at the heart of stagnation it would be term limits on Congress. That would (hopefully) reduce the number of bought and paid for lawmakers and in turn chip away at the corporate welfare state that is killing the country.
Probably, but that still benefits shareholders. You’d also see an uptick in both small business profitability and the number of new small business, which would create new jobs.
Totally agree with you TF. On both counts, Term limits and lets get rid of that golden parachute for them as well! Competition is killed in this country due to huge corps buying politicians, would be an absolute dream come true to make the market actually work for us. Feel like term limits would get a wider variety of people running for office as well and might bring in some fresh ideas.
I agree with this but my concern is the only career “politicians” would be the lobbyists. While congressman come and go, the lobbyists would stay entrenched and control everything…even more so than they do now.
except virtually every productivity enhancing company worth starting these days doesn’t make profits and doesn’t care about taxation. what they do care about is the ability to outsource.
Yeah but see, when they do that, the selling shareholders will have to pay income tax on their proceeds so there is still tax revenue for GOTUS. I think low business taxes and high investment taxes would reduce inequality and reduce the likelihood of the ridiculousness of people like DT and Romney paying less in taxes than us muggles.
But then they tell us the mighty job creators wont shower us with their trickle down!
^They will. Donald Trump isn’t a job creator, but Trump Corporation is.
(Note that I consider myself to be a Libertarian.)
I think that lowering corporate tax rates is generally a bad idea. Good in theory, bad in practice.
If business paid zero income tax, that would create a system where people are encouraged to open fake corporations in order to avoid paying taxes. The problem would compound itself when they started running personal expenses through their corporation.
If corporate taxes were lower than individuals, then I would get paid via 1099 to my business and deduct every expense I could think of. Mortgage, dentist, strippers & cocaine, you name it. And I would only worry about it if I ever get audited.
Yeah, but it’s harder to buy someone off every 8 or 12 years than it is every 40-50. (Robert Byrd, anyone?)
Yeah, that’d probably happen, but it would be insignificant in the grand scheme of things. Plus, we could always make the penalties tax evasion higher to discourage this behavior.
After moving to a fair tax system, the IRS will have a lot of time on its hands to deal with this sort of thing.
After thinking about it for a few minutes, I don’t think Congressional term limits will really change the rate of industry capture or corruption in Congress. What will probably happen is that the actual Congress representative will rotate between different party roles, but their behavior will still be dominated by the party. Consider all those DNC people who got Hillary nominated; they don’t have to be active representatives to dictate party behavior. More than likely, some “overlord” sort of roles will arise, and the elected representative will just be a puppet. The term limits for representatives will ensure that they are junior in the party and thus, more easily controlled by the entrenched party members. Furthermore, since they will need an exit opportunity at the end of the term, they will be forced to bow to the party’s will in return for connections.
That’s my hope, but ultimately congressmen need their Party’s endorsement to win, and the RNC/DNC would still be controlled by special interests.
Gary Johnson wants to eliminate the income tax and replace with a consumption tax.
I do not think that is a good idea, as 1) it will not change incentive to work for most people, but 2) it will decrease consumption. Thus, worker productivity will be unchanged, but commerce will suffer.
Peter Best wants to rejoin the Beatles
I was expecting more entertainment, like Trump vs Bush/Rubio/Christie, with more fallic references, name-calling, fat-jokes, etc. It got yugely boring pretty quickly, lemme tell you that.