Quote:
Originally Posted by Dutch
The common perception is that Millionaires pay little in the way of taxes. That would be false.
As for corporations taking jobs overseas, that is true. It's hard to compete with the "sweat shops" of China and Mexico. The flattening world and all that...(if you haven't read the book, you need to).
So you take from the millionaires so they can't employ those people overseas...but now they won't be able to employ anybody. This leads to concerns of the welfare state...and the paraphrased age old adage "problem with taxing the rich is eventually you run out of other people's money".
Anyway, it's becoming a monumental challenge for this country no matter what angle you are looking at it from.
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At some point something has to give. A low tax rate and continual shipping of jobs overseas is a toxic mix, something has to give somewhere.
Either you will see an increase in tax rates for corporations (if they continue to shy away from investing in the American economy) or see you'll see us slowly backing away from free trade with tariffs on goods from other countries replacing taxes as the means of generating revenue to deal with a growing population of poor and uneducated people.
I think we're reaching a monumental turning point in the history of this country. We're at a fork in the road. Obviously we can't keep operating as we have in the past, but we also can't tell the poor that they're on their collective own without an economic model that allows those that want to thrive to do it.
A way to reinvigorate manufacturing at home will be key going forward. But I don't believe the only way to do that is to gut the EPA and other groups (FDA) charged with keeping business in general honest.
I don't know how to answer the questions that face our country nor am I smart enough to even hash them out. But I believe it's in everyone's best interest that we elect officials that are about solving the issues instead of pandering to fringe groups who have become increasingly single minded (on both sides). YMMV.