While a certain amount of taxation is necessary, we shouldn’t kid ourselves about its true nature. It’s a form of coerced taking.
The assumption that business and workers can only benefit in a tax overhaul at the expense of one another belies real-world experience.
The idea that we must rob from Peter to pay Paul has led to historic levels of taxation in this country and helped stifle economic growth for decades.
The U.S. corporate income tax system is awful and needs to be reformed, but it does not subsidize foreign imports or justify a border-adjusted tax.
These two changes would transfer workers’ share of the corporate tax onto American investors, who are so far the disproportionate beneficiaries of globalization.
Instead, do something: Make America’s tax rates and business climate competitive again.
Progressives’ anti-market populism refuses to recognize that we live in a global economy.
Corporate tax inversions are a lame bogeyman. The real problem is stupid U.S. tax policy that creates incentives to move capital overseas.
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