Posted on 07/30/2013 7:57:28 AM PDT by SeekAndFind
House Speaker John Boehner has already thrown a wrench into President Barack Obama's latest "grand bargain" offer — just a few hours after details of it began trickling out, and just five hours before Obama is set to deliver a speech detailing the plan in Tennessee. The gist of Obama's grand bargain is a plan to cut the corporate tax rate, while using billions of dollars in revenue generated in business tax overhaul to fund a job-creation program.
In a statement, Boehner spokesman Michael Steel shot down the idea, marveling that it left small businesses "and American families behind."
"The President has always supported corporate tax reform. Republicans want to help families and small businesses, too," Steel said. "This proposal allows President Obama to support President Obama's position on taxes and President Obama's position on spending, while leaving small businesses and American families behind."
A House GOP leadership aide explained that Republicans have advocated corporate tax reform being paried with individual tax reform. Cutting the corporate tax rate to 25% while leaving the top individual rate at 39.6%, the aide said, would have a "devastating" effect on small businesses.
(Excerpt) Read more at businessinsider.com ...
The impact of economic isolation in a global economy is seen in two real world examples:
1. North Korea
2. The “Great” Depression in the US - note that elsewhere it was only called a depression. FDR tried to “protect” American jobs. How did that work out?
Was the Great Depression primarily a result of trade policy? My impression is that FDR let the unions run wild, and established a minimum wage almost immediately after he was elected. These served to price almost a third of the labor force out of the market, because their productivity fell below the wages companies were required to pay. The choice isn't between North Korea-style autarky and completely open trade - it's between South Korea-style managed trade where buyers of foreign goods are subjected to tax audits and open trade.
You’re describing two different problems. No tax cut and spending programs are still in place. Tax cut and spending programs are still in place. Which one are you technically better off with?
“There are a lot of bridges and roads that need to be built...”
With all the trillions allocated to bridges in Obama’s many “jobs” programs, I wouda thought them bridges had been built, tore down, and rebuilt multiple times by now. Oh, wait. Silly me. All of that bridge money musta got siphoned away by Obama/Democrat cronies before it ever got anywhere near a single crumbling bridge.
BTW, the real beauty of the above plan is that the bridges never get fixed, so you can always use them as an excuse for the next big “jobs” program.
And I am sure owners are buddies with someone to get those ‘shovel ready’ contracts. Significantly overcharged, I’m sure.
South Korea is not prosperous. They are #28 (worse than Spain) for GDP at PPP.
“South Korea is not prosperous. They are #28 (worse than Spain) for GDP at PPP.”
I forgot I meant per capita too.
They're in the top 6th among the world's economies, so I'd say that's reasonably prosperous, especially when you consider that unlike the US, Norway or Australia, the country has no natural resources to speak of, and 50 years ago, had a GDP per capita 2/3 of Zambia's, and 2/5 of Spain's. Note that in 1945, only 22% of South Koreans were literate. The last time this level of literacy existed in Spain was during the mid-19th century.
Documentation File on Speaker of the House, John “Cave-In” Boehner, the Welfare Democrat’s favorite Republican In Name Only (RINO).
http://en.wikipedia.org/wiki/Trade_policy_of_South_Korea
Looks like South Korea is going the free trade route.
I now see your point that the economy there has grown, but now I reject your point that they are very protectionist.
Actually, yes, some of us would still be bitching as an income tax is a slave tax.
The problem is an Unconstitutional government. Your complaint about spending would be moot if they were confined to their LEGAL limits of A1S8.
Now, while I’m in favor of the Fair Tax (as it is the best solution I’ve seen that’s been laid out), there ARE still problems with the system. But the PROS highly outweigh the CONS.
- NO ‘reporting’ NO IRS or the like.
- Cost is laid out on each purchase.
- Cost reduction per competition. Prices will settle to ‘lowest’ as biz tries to grab market share.
- BUSINESS remits to the State, State to the Fed, NEVER the end-user.
- Only NEW consumption. Kills the 2x, 3x taxation
Even IF 30% is the tax, as long it’s noted on the receipt, and price pre = price post FAIR TAX, people will be more informed and adapt to notice/want change.
Personally, NO prebate. EVERYONE has skin in the game for their actions/consequences.
CAN’Tor would be no improvement; Steve King would be. Let’s get Boehner to resign—we could take up a collection to buy him a two liter bottle of his favorite whisky every day.
Devoid of content, as usual.
No it’s not devoid of content. Your source is listed right in my post and it is laughable that you would cast aspersions on the FairTax based on a source with no credentials who does nothing more than go off on a rant.
You haven't even offered that much.
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