History shows that the capitalist system works better than the socialist system. We should do away with some tax deductions, rather than jacking up income tax rates to punitive levels . Wealth creation is a product of reinvestment of profits. If the government confiscates “inordinate” profits from corporations it stifles wealth-creating reinvestment. It puts corporations at a competitive disadvantage nationally and globally. This hurts the working man who depends upon the success of his employers and their ability to reinvest in him and his productivity.

Anyone think the government can more effectively reinvest these profits to make an industry grow?
Didn’t think so.

I logged this in over at your post on the Flt-Deck (A very fine post, btw–hey everyone, go read!) but thought it should be said here also:

Walter Williams, the black, basket-ball playing economist said it best: “Would you want to play poker with me if I got to change the rules in the middle of the game–and and as often as I like?”

Secondly, as much as I support revising the tax code, you miss the real issue, which isn’t the collection of revenues, but rather the spending. Like I said, there is a real, if unknown limit to what we can collect in taxes. But there appears to be no upper limit on the debt the government is willing to assume. But there is certainly a real, if unknown, upper limit on the level of debt that the economy can support.

You make my head hurt. Over these past 4.6 years I’ve read your “stuff”, you’ve argued from every angle, both sides of every issue and beyond. Your ever changing devil’s advocacy is totally unchartable.

Look. I pay way too much in tax, during a critical juncture in my life and get soooo little back in any service (unearned/unpaid for) it makes me sorta”upset” to see you darting and flitting around the edges of the basic post way up above like a H.S. debater…

You’re a mess man. Your only common theme in the nearly 5 years I can discern is your still lingering mono-like B.D.S. and your righteous aversion to Pat, well, you-know-who…Get fixed.

b2

The government can’t stop income disparity, but it does have a right to be concerned about it and try to shape the social conversation to bring executive compensation more into line with a reasonable man’s view point. The”just let all the boats float on a rising tide” analogy falls apart because in the global world,a lot of small boats are getting sunk to keep a few yachts afloat. When jobs are being off sourced to improve the bottom line-that’s hardly good for the domestic tranquility. Taken to its most extreme-it tends to drive the natives out into the street with pitchforks and nooses. Same could be said for spending too. One could argue that yesterday was the opening act in that idea.

Re: your second paragraph there has to be a way to reform the tax code to make tax revenue be provided and to pay for the needed health care changes / retirement scheme. I think a flat tax coupled with a national consumption tax is probably the solution-as well as a health insurance premium and contribution to a retirement plan similar to what many governments in Asia require. Now whether that could be sold in the current environment-I kind of doubt it.