Anyone who disagrees with this article is a misogynist............
Just in time for Tax Day, April 15, comes John Tamny's counterintuitive view of the economy, including why you are harming the economy by sending your hard-earned dollars to Uncle Sam. Titled "Solyndras. It upends traditional views on the supposed evils of outsourcing, climate change, and budget and trade deficits.
Tamny, who was my editor when I wrote for RealClearMarkets.com, has never been afraid to swim against the stream. He has written a brave book, a courageous book, that should be read and discussed by all who are interested in America's future. Here are three out of many counterintuitive nuggets from "Popular Economics."
The best way to "spread the wealth" is to leave it in the hands of the wealthy.[/B]The justification for progressive systems of taxation is that the government can make better use of funds than the individuals who earn the dollars. Therefore, the traditional argument goes, higher-income earners should pay taxes at a higher rate. Not so, writes Tamny. Unspent funds left in the hands of wealthy individuals are saved and used to power a broad array of investments.
Tamny offers numerous examples. If corporate taxes had been in place in the early-20th century, Henry Ford might not have had the capital to invent the Model T at Ford F, +0.63% In 1989, Jerry Jones bought the money-losing Dallas Cowboys for $149 million and turned the team into a powerhouse, with three Superbowl wins in the 1990s. That encouraged Robert Kraft to buy the New England Patriots for $172 million in 1994. The team is now worth $1.8 billion.Most companies and the jobs they create are the result of private investment. Yet the tax code gives government spending preference over investing in the next Steve Jobs.[/QUOTE]
http://www.marketwatch.com/story/popular-economics-contains-inconvenient-truths-for-liberals-2015-04-15
Just in time for Tax Day, April 15, comes John Tamny's counterintuitive view of the economy, including why you are harming the economy by sending your hard-earned dollars to Uncle Sam. Titled "Solyndras. It upends traditional views on the supposed evils of outsourcing, climate change, and budget and trade deficits.
Tamny, who was my editor when I wrote for RealClearMarkets.com, has never been afraid to swim against the stream. He has written a brave book, a courageous book, that should be read and discussed by all who are interested in America's future. Here are three out of many counterintuitive nuggets from "Popular Economics."
The best way to "spread the wealth" is to leave it in the hands of the wealthy.[/B]The justification for progressive systems of taxation is that the government can make better use of funds than the individuals who earn the dollars. Therefore, the traditional argument goes, higher-income earners should pay taxes at a higher rate. Not so, writes Tamny. Unspent funds left in the hands of wealthy individuals are saved and used to power a broad array of investments.
Tamny offers numerous examples. If corporate taxes had been in place in the early-20th century, Henry Ford might not have had the capital to invent the Model T at Ford F, +0.63% In 1989, Jerry Jones bought the money-losing Dallas Cowboys for $149 million and turned the team into a powerhouse, with three Superbowl wins in the 1990s. That encouraged Robert Kraft to buy the New England Patriots for $172 million in 1994. The team is now worth $1.8 billion.Most companies and the jobs they create are the result of private investment. Yet the tax code gives government spending preference over investing in the next Steve Jobs.[/QUOTE]
http://www.marketwatch.com/story/popular-economics-contains-inconvenient-truths-for-liberals-2015-04-15
