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The People's Interests 
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Post Re: The People's Interests
Ken wrote:
Your argument assumes that higher corporate taxes directly correlate with bad economies, which is demonstrably untrue. Our corporate taxes (in real numbers, not theoretical numbers) are relatively low among those of major world economies, yet there are other, more prosperous countries whose corporations pay higher taxes. Your argument also assumes that lower taxes unerringly lead to more productive (and therefore cost-lowering) investments, but history indicates otherwise.


There are a few claims there.
1) That our taxes are low in 'real numbers.' It is true that some corporations pay lower taxes than our base rate, which is the second highest in the world. This reveals one of the inefficiencies of our system and of corporate taxation in an essentially corporatist system. Favored companies lobby for deductions, credits, etc. which will basically solely benefit them. When their favored legislators get power, they reap the rewards. More established corporations can spend much more money on high-priced accountants who look for holes to exploit in the tax system. This directly discourages competition. This is another inefficiency. The notion that we can somehow repair that in our system is an illusion.
2) Countries with higher corporate taxes tend to be countries of Old Wealth. Non-wealthy countries that fool themselves into believing that they can simply expropriate their wealth from companies don't grow. Don't believe me? Check out the last thirty years of Chile (a country which has embraced capitalism) vs. the Latin American countries that embraced Socialist or Marxist policies. Not only is Chile today the most advanced nation in South America, but it is also the most stable. Peru is another example: when Fujimori took over, he restructured the tax system and created a freer system that led to substantial growth.
3) Maintaining low taxes does not mean that there will never be bear markets. It means that there will be more growth, more creativity, and a freer nation.


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As for the housing crisis, the vast majority of the fault rests with lenders behaving irresponsibly and unethically in a deregulated environment. Government-mandated loans did exist, but the role they played was insubstantial.

It wasn't just government mandated loans (and I think you are underestimating the damage they did). It's government interference in the market in general, which was basically solely responsible. Governments encouraged irresponsible lending by contorting the market; without that, it would've never happened. Risky loans skyrocketed directly as a result of government policies, and that is viewable in the one link that I listed.

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Wed May 11, 2011 9:36 am
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Post Re: The People's Interests
firefly wrote:
Socialism and libertarianism aren't compatible. Libertarianism says that the untethered market can best allot resources in a society, whereas Socialism says that the state can optimally organize at the very least the means of production and possibly the distribution of production. These can not mesh. Hayek details this extensively, particularly in The Road to Serfdom.


Let me put it to you this way. When it comes to personal freedoms and limiting the role of the federal government, I'm a libertarian. When it comes to universal healthcare, I'm a socialist.


Wed May 11, 2011 11:06 am
Post Re: The People's Interests
firefly wrote:
Socialism and libertarianism aren't compatible. Libertarianism says that the untethered market can best allot resources in a society, whereas Socialism says that the state can optimally organize at the very least the means of production and possibly the distribution of production. These can not mesh. Hayek details this extensively, particularly in The Road to Serfdom.


I like to keep it simple about socialism. The concept is tyrannical as it requires force of government to "work". All men are free by virtue of their birth into this world and have the right to live free from the shackles of tyranny. Socialism is fascism with a smile and nothing more.


Wed May 11, 2011 12:01 pm
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