Wednesday, October 20, 2010

What's the matter with America? Not competing, not producing

Thanks, Senator Hollings. Keep 'em coming!

I'll echo a bit:
"The Congress could easily lower taxes and eliminate the incentive to off-shore jobs by substituting a 5% VAT for the corporate income tax. The corporate income tax burden averages 27% on the cost of production, which is immediately lowered to 5%, and since the VAT is rebated on exports, gives President Obama's export initiative a real boost."

I agree, too, the US ought to enforce trade laws. And cancel our existing free trade treaties / shenanigans. Enough Economists have obtained their PhD's reinforcing the free trade delusion. It's time economics PhD candidates found a new, less destructive mule to flog.

Here's more:

Read the Article at HuffingtonPost

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