Raising the US corporate tax would drive more capital out of the US. But the tax hike will be less risky if the US can get other countries to raise their tax rates as well.
The deficit for the year is pushing $2 trillion. And we still have five months to go until the end of the fiscal year. Only during World War II were the deficits so huge in relation to GDP. Meanwhile, the Fed continues to print money to buy more Federal debt.
When it comes to the oligarchs' new semiconductor subsidy scheme, the real cost in terms of economic distortions, lost welfare, and harm to competitors, is quite real and beyond the dollar amounts we see in the subsidy itself.
Biden’s tax increase plan does not make sense from a growth, revenue, or deficit perspective, and it does virtually nothing to address the real problem: ballooning spending on programs like Social Security.
Profit-seeking entrepreneurs move factors of production to their highest and most economical uses. Amtrak, on the other hand, is diverting useful factors of production from higher use values to lower-valued uses. To put it another way, Amtrak is destroying wealth.
Free market advocates long ago figured out that the monied classes of bankers and Wall Street operatives were exploiting the "little people" to prop up the fortunes of what is now the billionaire class. The scam is alive and well today.
The Dems are still claiming that welfare spending withered away during the Trump years. But that's obvious nonsense, and Trump's megaspending slathered trillions of dollars on pretty much everything.
Globalists know that so long as sovereign states have the ability to set their own tax rates, regimes are tempted to engage in “tax competition” in order to attract capital. The cure to this “problem” is a global minimum tax rate.
It's time to default on the national debt. It's the moral thing to do. We often speak of the problems with the effects of the debt. But the debt itself is an abuse and an imposition on taxpayers.
If deficits don't matter, why bother with taxes? The regime has the answer: taxes are important for punishing people we don't like, rewarding our friends, and for maintaining control over the public.
