To: oceanview
isn't a "free trade" issue. the reason these jobs go to india and russia is because both of those countries have made it more advantageous to produce THERE, rather than HERE. For example, Russia now has a 13% flat tax on personal income. The U.S., although having relatively low tax rates, is much higher than that. Also, the U.S. has a cap gains tax at 28%, i believe, which is extremely high, and the U.S. has some of the highest corporate tax rates in the world.
Lower taxes relative to these people, and everything will come back here and stay here.
14 posted on
07/15/2003 6:48:30 PM PDT by
Norse
To: Norse
For example, Russia now has a 13% flat tax on personal income. The U.S., although having relatively low tax rates, is much higher than that. Also, the U.S. has a cap gains tax at 28%, i believe, which is extremely high, and the U.S. has some of the highest corporate tax rates in the world. We've got a 15% flat tax on incomes under 65K (SS/Med), before you even begin to figure in personal income taxes.
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