Skip to comments.Washington Is the Problem (Interview With Fred Smith)
Posted on 10/25/2008 8:45:53 AM PDT by Entrepreneur
He has come to hold the get-rich-quick Wall Street financiers in more than a little disdain. He views the heroes of the U.S. economy as the companies that actually produce real goods and services. He sees the Wall Street collapse as an inevitable byproduct of investment bankers building multitrillion dollar debt pyramid structures.
"We've got to reduce the taxes on equity. Let companies expense their capital purchases."
"We absolutely have to cut the corporate tax. Our current tax rate is about 38%. Even Germany has a 25% rate."
"The politicians deplore the fact that we have a disparity of income," he says, but "the only way to make a blue-collar person earn more is to invest in capital, training and infrastructure. So the more you tax capital, the more you hurt workers."
"We're now at a point where a very large part of the population pays no federal income tax at all. When you have a majority of the population that realizes that you can transfer money from the productive to themselves, that's one of the great questions for the future of civilization, as far as I'm concerned."
"That's where all wealth comes from . . . It's not from the government. It's from invention and entrepreneurship and innovation. And our policies promote a legal and regulatory system which impedes our ability to grow entrepreneurship. Lastly, if we want to make [America's workers] wealthier we have to quit demonizing quote, big corporations."
(Excerpt) Read more at online.wsj.com ...
Smart man! I spent nearly 18 years of my life working for FedEx. Well run company if you ask me. I never had some much freedom to succeed if I wanted to move up the ladder. I just chose not to. He is spot on here. Thanks for posting!
Did Sonny get over his drug arrest and go on to play college ball?
We decided to set up a new website over this weekend called “The Obama Disaster.com” to highlight all of the reasons why the election of Obama as President is a very, very bad idea!! We need everyone’s help to gather all of the articles and information about the effects upon the stock market, the economy, small businesses, lost jobs, more mortgage defaults, home prices, taxes, your 401(k), mandatory health care, more liberal programs, more government, the Supreme Court, marriage, religious freedom, free speech, less freedom, etc.
Smart doesn’t do Fred justice.
I spent nearly 30 years living literly next door to Fed Ex head quarters.
Please post the links when you set this up and ping me.
He/Smith has come to hold the get-rich-quick Wall Street financiers in more than a little disdain. He views the heroes of the U.S. economy as the companies that actually produce real goods and services. He sees the Wall Street collapse as an inevitable byproduct of investment bankers building multitrillion dollar debt pyramid structures.*
So how do we fix this problem and retool our industrial sector in a pro-competitive fashion? “We’ve got to reduce the taxes on equity. Let companies expense their capital purchases.”
We turn to the election. Mr. Smith is one of the most enthusiastic supporters of John McCain among the Fortune 50 CEOs. When I ask why, he says instantly: “Because I agree with him on trade, taxes, energy and health care.”
*Please read my tagline re pseudo businesses controlled by elite liberal facsists:
I liked everything he said except for that one insane statement.
And Sacramento is the mirror image of the problem except it can't print money as well as borrow it to squander!!!
Who is Fred Smith (and John Galt)???
“And Sacramento is the mirror image of the problem except it can’t print money as well as borrow it to squander!!!”
I hope the voters are smart enough to cancel Arnies CC on 11/4!
Yes we are Fred and it may be too late to go back.
H e wasn’t talking about the military, he was talking about trade as in subsidies for ethanol and protectionism.
I get it, I think. I wish he would have said “I think the best thing the United States could do is to unilaterally disarm by openening up markets” for us more simple-minded folk.
Yeah, I feel the same way. I took it the same way you did at first. Then I said, nah Fred Smith isn’t a moonbat.
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