RiceLad15
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RE: Question
(01-05-2018 09:44 PM)RiceLad15 Wrote: (01-05-2018 08:45 PM)Owl 69/70/75 Wrote: (01-05-2018 06:41 PM)Owl 69/70/75 Wrote: I'm not quite sure why you didn't understand the "on par" comment. I pretty much spelled out all the details. I do the same with my undergraduate international business law students, and they seem to grasp it pretty clearly. We're better in some areas than other countries, worse in others. On balance, it's about par, depending on what factors are most important to a particular investment decision. I take the position that more investment, growth, and jobs are good things, and tend to improve the lot of the middle class, in particular. If you disagree with that basic position, then perhaps that is the reason for our differences.
So if we start at about a par overall with other countries, and we do something to make it relatively worse here than it was before, then we have made it worse than it is in other countries as well. That will drive investment, growth, and jobs to those other countries, to the extent that whatever we have made worse impacts a decision.
So if we start out at A (us) = B (them), and we change A to A-1, then A-1<B and we have to add a +1 to get back to equal with B. That -1 could be more leave and vacation or cap and trade (things which you have proposed and I actually think are good), so we have to come up with a +1 to offset it to get us back to a push. I would actually favor a +2 or +3 so the field clearly swings our way. And then maybe we could look at some of the other things you want to get us back down to par or slightly better. So I'm open to your social issues, but there clearly has to be a quid pro quo, which is what we have lacked all too often.
Here's how I would go after it. Regulatory reform would be huge for me. Europe generally has tougher, or at least as tough, regulations in most areas. But their regulatory process provide more reasonable and speedy and predictable results. And businesses prefer certainty and speed, and are willing to pay more to get them. I would go for increasing regulation of some areas that matter, in exchange for reducing or removing regulations in areas that don't matter, and going to procedures that had more due process protections. I'd do three things--subject rule making to congressional review, put in sunset review for all agencies and regulations every 10 years, and move adjudication of disputes from captive ALJs within the agencies to a separate article III administrative law court. Under that setup, jurisdiction and venue for all disputes would be in the district where the cause of action arose, rather than in the DC Circuit.
Then I would do a consumption tax and use the funds to 1) balance the budget, freeing up capital markets, 2) fund Bismarck universal private health insurance/care, removing a large cost from employers, 3) implement a guaranteed basic income, and 4) lower and flatten income tax rate structures (we could possibly eliminate the individual income tax altogether). With lower operating costs and increased availability of capital, plus the protective aspects of a consumption tax, this would make US businesses much better off.
In exchange for these, we could look at the reforms you want. We could end up far more attractive an investment destination than today, at the same time as we add some of the worker and social protections you want. That looks like a win-win to me. How about you?
The relevance of this to the original question is that this is how I would expect a business-friendly politician to think and act. Come to think of it, I can't think of many democrats or republicans who think that way, which is probably why I don't support either one.
Bump. Lad?
Geeze, I don't get much time to respond...
Will get to this when I have a chance - probably tomorrow. Don't have enough time right now to actually digest that and respond.
Owl - I think your position seems pretty reasonable, and obviously relies on an honest give and take. I’m not a huge fan of moving almost completely away from a progressive tax system, but I’ve read a few articles recently about the merits of moving to a VAT system, and that is one change I can get behind, for sure.
Connecting this back to the original topic, and how you ended your response, I think the reason you don’t see either party filling this role is that neither party can really act in a nuanced way. They seem to be, on the whole, unable to message that they have multiple outcomes in mind. Dems are currently stuck on messaging about paying their fair share, while Reps are stuck on messaging about how lowering taxes across the board will basically bring the second coming. Because neither of those are absolutely correct, the opposition digs their heels in because they believe their team’s main message is more important than the other’s.
I think there is a place for politicians with “radical” views such as yours (radical meaning that it is a departure from our current views), because of how successful Bernie and Trump were. People recognize that our current system isn’t really working well and that we probably need dynamic and bold changes, as opposed to just a simple tweak of the tax code, to get things moving in the right direction for the majority of the country. I mean, it’s great that the market is doing so well, but the majority of Americans do not benefit directly from that because they don’t own stocks, so something appears to need to change in order to put more money in their pockets.
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