Posted on 03/21/2008 6:30:31 AM PDT by rellimpank
Aside from concerted action to strengthen the dollar -- a step that Federal Reserve Chairman Ben Bernanke and Treasury Secretary Hank Paulson seem utterly uninterested in -- policymakers have one other major option available to them that could rapidly bolster the American economy while also doing long-term good rather than harm.
Eliminate the federal corporate income tax.
Yes, kill it entirely.
The problem with the economy right now is not a lack of liquidity -- the whole world is awash in dollars -- but a lack, instead, of anything good to do with those dollars rather than hoard them. The problem, in short, is that nobody has any incentive to invest those dollars, or to lend them for investment, here in the United States
(Excerpt) Read more at spectator.org ...
With Uncle Sam getting 15.3% renumeration on every employee’s salary plus cap gain taxes on dividends it would seem to be a no brainer to stimulate employment and investing.
But since corporations are evil (and that’s in the mind of some of the so-called conservatives who frequent this site) it will never happen.
Yes, that would be a great solution. It would work.
Our present situation is exactly where the Left (Democrats/MSM) intends it to be. They know the dilatory effects these taxes and regulations have on the economy and that is what they intend. It is amazing we have done as well as we have.
Not only will they not eliminate the corporate income tax they will kill those cuts already in effect. The Left intends the destruction of this country and they use our freedoms and generosity to turn them against us.
Eliminate Corporate Taxes bump.
Also, we should drop capital gains taxes and taxes on interest (mostly payment for inflation).
BUT... when will we ever cut spending?
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