Tax Reform is all the rage. And, now that the fairy-tale land of budget reconciliation has terminated (it ended on 30 September, where items could pass with a simple majority- which means the Vice President could break any ties), our Congress will now get all hyped about lowering the tax burden (I fear they will offer the rich a tax break, the poor more taxes, the middle class empty promises, and Christmas gifts for big business. We’ll have to see what they really propose.)
I’ve been advocating a change in the business income tax for a long time. And (of course), I consider my proposal to be extremely brilliant. Far better than the 1 page change in all taxes proposed by TheDonald or the (sometimes proposed, sometimes withdrawn) special duty tax to be imposed on imports. Because my method collects revenue (as opposed to draining it- hoping for an insane 3% growth- AND the need for a magic potion to harvest funds that never appear) and is equitable.
You’ve read about my concept to make corporate taxes more fiar and inclusive for years. No, I am not running for President. But, that doesn’t mean I don’t have better ideas, ones that our government (and other world governments) should adopt to stop the erosion of capital (and tax revenue!) from the shores of the countries from which these funds were developed.
Yesterday, I explained how the OECD is proposing a tax plan similar to one I’ve been advocating for years.