Why have prices fallen so low? Because government subsidies created a glut – and the market is flooded. This government money warps and distorts the marketplace – as otherwise productively-directed time and effort is instead spent chasing the government coin. Producers produce not what the marketplace needs – but for what the government pays.
Tagged: tax reform
With recent news about Burger King and medical device manufacturer Medtronic relocating their headquarters outside of the United States to avoid high corporate taxes, the subject of corporate inversions has been a big topic of discussion in the media. While President Obama and the Treasury Department condemn these moves and construct roadblocks to prevent inversions, they fail to see the reasons that drive these corporations overseas.
It seems that when Chief Justice John Marshall was preparing the opinion for McCulloch v. Maryland he tapped into an eternal truth. “The power to tax is the power to destroy,” he wrote on behalf of a unanimous Supreme Court. Those words are no less true in 2014 than they were in 1819. Taxation appropriates money from one person or group of people in order to give it to others. There is no way to escape taxes. But there is a way to make taxes somewhat fairer. One way is to make taxes flatter and expand the tax base.
With Tax Day 2014 behind us, it might be tempting to turn away from thoughts of the taxman and to let the pain abate a while. For decades Americans have done just that; they have accepted taxation, albeit begrudgingly, as a necessary part of life in society and have taken the hurt with a certain stoicism. Sometimes voices have been raised against the sapping power of taxation, yet taxes have continued to rise along with government spending. The time of stoic acceptance may be coming to an end.
The goals of limited government, fiscal responsibility, traditional values, and strong defense have been an ever-present litany of bullet points from Republican politicians – but talking about limited government and actually delivering on it are two very different things.
The Heartland Institute has compiled a list of legislators, journalists, and think tank leaders across the conservative and libertarian spectrum that strongly oppose the Marketplace Fairness Act.
Recent Republican budget proposals have cut taxes on the rich and asked the middle class to pick up the tab? When was the last time any Republican proposed to increase taxes on the middle class?
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