Pat Buchanan is right on the money. Again.
In a recent editorial he points to a Senate hearing where Apple CEO Tim Cook (former darling of the Dems) was excoriated for tax avoidance. You see, Apple has paid zero US income tax on its earnings from outside the country in recent years, and it’s perfectly legal. Ireland won Apple over with its 2% corporate tax, compared to the 35% Apple would pay our Treasury. Corporate income tax now makes up less than 10% of federal revenues, and will continue to decline as long as we fail to compete with other nations.
Buchanan says the solution to our economic woes is to abolish the corporate income tax in a revenue-neutral exchange for a 10% tariff on all imported goods. This would bring American corporations (and their off-shore money) racing back to the homeland, and would invite foreign manufacturers to move here as well, reversing the death-spiral of our currency and our ghastly trade imbalance.
Instead of blaming entrepreneurs for avoiding taxes, our fearless leaders should work on attracting and retaining businesses, along with the jobs and wealth they create.
Adam Smith, the father of free market capitalism, taught us that any attempt to control commerce externally is a bad thing. Free and natural competition is a good thing.
The best solutions are usually the simplest.
Tom Balek – Rockin’ On the Right Side
Seems this worlds got you down
Your feelin’ bad vibrations frown
Well, open your eyes girl, look at me
I’m gonna show you how it ought to be
We’re gonna’ have a good thing
Such a good thing baby
Good Thing – Paul Revere and the Raiders
Here’s an unusual video for you Rockers on the Right Side. Yeah, it’s GOOD THING by Paul Revere and the Raiders, but from a different perspective – behind the drums. Unless you have played drums, you would not know that everything is different back there – the sound, the lights, the distance from the audience, even the “feel” of the music. It’s kind of a lonely world for drummers. This video features Raider drummer Tommy Scheckel. And even Tommy is different – a left-handed drummer playing a right-handed setup. It makes for some unusual moves! Scheckel is a relative newcomer to the Raiders after playing for 27 years with the Buckinghams (“Kind Of A Drag”,” Susan”,”Don’t You Care”). Enjoy! Oh, and hug a drummer today.