Friday, September 16, 2011

Backwards

Paul Ryan (full disclosure - he's actually my Congressman and I generally like his work) is proposing that we "close corporate tax loopholes" then lower the overall tax rate.

No.

Open the loopholes wider.

Say you've got a tax break "loophole" for solar panel manufacturers. Expand that sucker to cover any company that makes any part for any other company that produces electricity.

Which still seems unfair, so expand it to include ANY manufacturer.

Which still seems unfair, so expand it to the service industries, too.

And you end up with a free market that spends its money to make stuff and provide services that people want, instead of a socialist economy that spends its money on useless, make-work programs that people can do without.

We need more and bigger "loopholes", not fewer & smaller.

But I'll get behind Ryan's plan on one condition:

Lower the tax rate FIRST.

Because I just don't trust the DC folks not to conveniently "forget" to do it if they saved it for second.

1 comment:

  1. If you lower the corporate rate to zero, then you can claim to close all the loopholes AND achieve the economic benefits your cite.

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