“The ‘bias’ towards foreign producers is in effect because other nations tax far less than we do.”
No, that is incorrect again. Are you trying to set some record for most misstatements on a FR thread?
The bias against US producers is because the US, unlike almost all major economies in the world, has no mechanism to “border adjust” its taxes. Of the 30 countries in the OECD, 29 of them have a border adjustment mechanism in their tax systems. That one country which does not have such a mechanism has the largest trade deficit (on either a relative or an absolute basis) of the group; in fact, the other 29 have a net trade surplus. Does anyone think that is coincidence?
“A 3-4% reduction in the Federal budget would have the same effect as the FT and it would be sustainable since taxes are actually being lowered.”
Do you have a source to back up that statement? I’m sure you wouldn’t just make something like that up without some credible research to support it.
Would you?
No, that is incorrect again. Are you trying to set some record for most misstatements on a FR thread?
Actually it's not incorrect nor has anything else I've yet posted.
It's the FT side that has been spouting nonsense, you less than most.
The bias against US producers is because the US, unlike almost all major economies in the world, has no mechanism to “border adjust” its taxes. Of the 30 countries in the OECD, 29 of them have a border adjustment mechanism in their tax systems. That one country which does not have such a mechanism has the largest trade deficit (on either a relative or an absolute basis) of the group; in fact, the other 29 have a net trade surplus. Does anyone think that is coincidence?
Which is to say that other nations tax less than we do.
I.e. they encourage their domestic companies to keep jobs at home rather than discouraging it by making it more expensive to do so. They don't bleed down their own industry.
So, in the end, I said what you said with fewer words.
Go figure.
Do you have a source to back up that statement? I’m sure you wouldn’t just make something like that up without some credible research to support it.
The source is the numbers I used. Every dollar taxed is 2-3 dollars lost to productivity.
While I'm sure I've posted a link to that source here or elsewhere before I'm equally sure I don't remember it off the top of my head.
It is, nonetheless, a widely supported figure.
Feel free to look it up.
Hell, you know what, I'm feeling froggy.
Click here for one source.