04 May 2016

On the Record | Government Greed Axes the Golden Goose

Please see my latest post for the Quarterly Review, ‘Government Greed Axes the Golden Goose’:

President Barack Obama mounted the bully pulpit again last month, to decry the practice of ‘tax inversion’ and those corporations with the effrontery to believe in private property and the profit motive, thus escaping exorbitant tax bills by moving operations out of the United States for the welcoming low-tax jurisdictions of foreign lands.

According to an AP News report:

“Obama called it ‘one of the most insidious tax loopholes out there’ because it shortchanges the country. He said less tax revenue means the government can’t fully spend on schools, transportation networks and other things to keep the economy strong. He said the practice also hurts middle-class Americans because ‘that lost revenue has to be made up somewhere.’”

Oh, dear! Where does one begin to enumerate President Obama’s recurring penchant for economic (and constitutional) illiteracy?

Read more…

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My thanks to Dr Leslie Jones of the Quarterly Review.