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You know what else would rejuvenate the economy? Cutting taxes on all businesses, and not playing favorites. America has the highest corporate tax rate in the O
by Prrometheus 18y ago
You know what else would rejuvenate the economy? Cutting taxes on all businesses, and not playing favorites. America has the highest corporate tax rate in the OECD.
I'm all for startups, I'm all for cutting taxes, but I'm a skeptic of politicians attempts to engineer society through the tax code. At best, it smacks of the old dream of a totalitarian state where an enlightened central director plans society for the good of all. At worst, it provides an incentive for corruption (ok, pig farmers get a tax break but not cow farmers, public school teachers get a tax deduction but not homeschoolers, etc. etc.).
- Retric 18y agoI think our tax rate is more about keeping acountants employed than collecting revenue. There are an insane number of loopholes out there so it becomes a race to see who has the most daring accounting team. I say pick whatever todays average effective tax rate is round it up to the next whole % and destroy all loopholes. That way we can eliminate the economic drag that our stupid tax code produces without reducing revenue. (Ok, this will never happen but I can hope.)