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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: JakeStraw who wrote (16337)	7/28/2009 4:28:09 PM
From: longnshort	1 Recommendation Respond to of 103300

and lobbyists wining and dining our congress people

To: JakeStraw who wrote (16337)	7/28/2009 5:14:51 PM
From: DuckTapeSunroof	Respond to of 103300

Re: "I think a progressive flat tax would be the way to go also." A little bit of 'progressivity' in the new tax rates might be required (politically) to get reform passed at all. But definitely, definitely deep-six every loophole in SIGHT. For that is the only good way to both: A) lower the rates, and B) truly, structurally increase the long-term growth rate of our nation. For example... WHY does our tax code encourage debt (but not all other forms of capital formation such as retained earnings [savings], equity issuance, etc. It makes no rational economic sense. Re: "But gee what would happen to all those ever-so-useful tax attorney's, tax accountant's and our beloved IRS? ;^)" Most of them might have to 'transition' to other forms of employment... and our nation would IMMEDIATELY, and every year there-after, benefit from the elimination of more then $300 Billion dollars a year in COMPLIANCE COSTS. Add that up year-after-year, and pretty soon your got an economy growing MUCH FASTER then the near stagnant 1.5% rate we have (unfortunately) come to expect in recent years. Maybe we won't be able to start growing as fast as 9% or 10% a year like emerging economies such as China and India have been doing for years now... but if we could just narrow the gap a bit, tack on an extra percentage point or two in real growth, that would make ALL THE DIFFERENCE.