Monday, January 12, 2009

Tax cuts are the answer

In case ye socks were road trippin' like yours truly this weekend, I thought I'd let you know The Disaster in Waiting graced the airwaves on Friday with his pearls of wisdom about potential remedies to the nation's ongoing economic slump.

It was the same old crap and nonsense he usually spews, so don't feel too bad if you missed it.

However, towards the end of his nauseating missive, he indicated his openness to suggestions for additional/alternative solutions.

Well, I had to take the bait.

The simple answer, Mr. Disaster in Waiting, is that government is too big and taxes are too high. The quickest way of remedying the former is to reduce the latter.

That's right: CUT TAXES. Across the board, not just for the rabble that doesn't pay any net taxes anyway. But, cut your rates on every tax you cannot eliminate entirely, but especially:

1. The corporate tax rate - Ours is the second highest in the world, a fact that drives businesses overseas along with all the jobs they create.

2. Capital gains taxes - If you want to encourage people to invest their money, don't discourage them by taking away all their profits for your wealth distribution schemes.

3. The death tax - This places an undue burden on our families who want to pass the American dream on to the next generation instead of having their life's work confiscated by the government when they die.

My old college economics teacher taught me many things. But, one of the lessons that stands foremost in my mind even to this day, is this simple statement: TAXES KILL. If you levy a tax on some one, some thing, or some activity, you will kill it to some degree. The higher the tax, the more complete the devastation.

Well, we're at the point of deep devastation already.

Don't add to the pain thru ignorance of basic economic principles and free market enterprise.

Labels: , ,


Blogger LVTfan said...

Not all taxes are created equal. We can tax land value rather heavily without producing any negative effects on the economy. This is because land is fixed in supply, and no one can create an additional acre, and not one lot will slip out of town or offshore in the dead of night.

Even Milton Friedman recognized that a tax on land values was a superior tax. (He put it a little differently, both in 1978 and in a newspaper interview a couple weeks before he died in 2006: he called it the "least bad" tax.)

Look into land value taxation. Check out and

6:40 PM  

Post a Comment

Subscribe to Post Comments [Atom]

<< Home