To sidestep that entire troublesome and misunderstood Abu Ghraib, Guantanamo,torture, and warrantless wiretapping thing. Just think, that would have allowed the Bush Administration The complete financial meltdown and its impact on terrorist organization and Saddam Hussein would probably have made invading Iraq and Afghanistan unnecessary. Now that would have been a successful War on Terror. It would also have ensured that Russia, Iran, and Venezuela would have had no clout whatsoever over the past 7 years. The complete collapse of the oil market would have totally shut off the funding that Al Qaeda was depending We could have completely destroyed the world’s financial system and economy several years ago. If we had done that then, along with other economic and financial measures that the Bush Administration have undertaken since then, John Boehner was absolutely right in 2001 about eliminating the capital gains tax. They might be so bewildered that they wouldn’t even notice when we raise capital gains rates to help pay for it…) Wouldn’t know what in the world to make of it. (I have to admit that one thing I would like about a Democratic administration proposing a great reduction, or even elimination, of corporate taxes, is that it would utterly befuddle the Republicans-they No evidence for this guess, it seems likely that a substantial reduction of corporate taxes would be provide a direct, immediate, and large economic stimulus. So once again, on grounds of distributional fairness, we might want to eliminate corporate taxes, and replace those with some other tax whose distribution we control. They may choose tax distribitons that are progressive, regressive, neutral-it’sĬompletely up to them.

By taxing corporations, we are simply making the corporate executives our tax assessors and tax collectors. It may even be paid partly by corporate executives, although I suspect that they are the last and least on the list of who bears the cost, since they are the ones who control the distribution of that taxīurden. A corporation is only a legal organization, not a person, and it pays tax only by distributing the tax burden to participants in the organization’sĪctivities, right? The tax is paid by customers, employees, suppliers of other inputs, by reduction of corporate investment in longer term projects, and so on, as well as by shareholders, both rich and not so Others I’m not yet persuaded that reducing capital gains tax rates is a magic formula for eternal growth.īut I have wondered about the impact of the corporate income tax. On fairness grounds they should be taxed like any other income, and in spite of all arguments from Mr. With you on the question of capital gains taxes.

Boehner on the need to reduce either capital gains taxes or corporate income taxes. Although you don’t say so directly, I assume that you disagree with Mr.

Economix corporation caricature