I fully agree! Capital gains taxes should go to zero - likewise corporate income taxes. We should ENCOURAGE savings, and we should ENCOURAGE companies to invest in their own future!
We have the highest corporate income tax in the world. With the Government claiming 40% of all gross profits, why would a company do here, when it could do overseas and pay half (or lower) than that - and come out well ahead even with shipping costs factored in? Add in the fact that after you pay that income tax, when you share the profits with your fellow owners, they pay another 15% or more as well, meaning Government captures about 60% of all corporate profits made in the US.
I wonder how many people here refuse to take every tax deduction they can... Why would they deny companies the right to also take those tax deductions simply because it means shifting some income to overseas?
New Swiss Robot Assists Travelers with Luggage
Think about that - it's now getting cheaper to have a robot take your bags to the airplane, straight from your car, than to hire porters or luggage handlers or even guys to go and collect the luggage carts. In 10 years, the taxi driver job will be essentially go as self-driving cars become common. Baggage handlers and doormen will go away. All from automation.