(08-31-2015 12:15 PM)Owl 69/70/75 Wrote: As for the first point, I totally agree on the need for an objective standard.
Here is the problem with the entire issue though.
Trump made a statement that even the article says, if you look at it from the right perspective, he is accurate... and those who (for a variety of reasons, both reasonable and not) want to discount his quip choose perspectives from which he is not and claim that this makes it 'false'.
The 'objective' measure we seek is a relative one... and it is also dependent on unrelated factors... but the bottom line (imo) is a few simple questions.
Companies and 'the wealthy' can move their money/HQ/Tax home. So the simple questions are, if we lowered our rates that impact them, would we bring more of their money, and the jobs that money funds here or not? Similarly, if we raised them, would we lose them? The answer, particularly for manufacturers in a global economy (as opposed to pizza makers and other things that can only be done 'here') is yes.
Our 'labor' can't move... which is why so many focus on lowering the overall spending rate because that is the only way to reduce the impact on MOST people here as they have to 'make up' whatever shortcoming remains after corporations and the wealthy move their money around.
If you can spend less or get more from the investor class, then you can require less from 'labor'. The trick is to get more from investors without pushing them to other taxation jurisdictions.
Consumption taxes are a way to do this, and a prebate can protect the poor and much of the middle class.