Originally posted by astralis
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As for income taxes, I don't think we should shrink the wealth gap by taking the richest peoples money via puntive taxes. The capitol of the wealthy is what we need to get into the economy. if anyhting we should be looking at a tax scheme that has incentives for them to use thier money domestically. America's wealth is shrinking, either fleeing over seas, beign exported for cheap goods or wasted by government.
We need a higher earner and corporate tax scheme that gives benefits to companies willing to produce here. The more they are willing to produce here, the bigger the tax cut up to 50% of the total liability. We should also cut taxes for companies that export finished goods up to 50% of the tax liability. Thus for exmaple, if Honda Motors built a new series of plants in North carolina to build trucks made with 100% domestically produced parts for export to Africa they would see a 100% reduction on the tax liability. This is the only real way to compete with Chinese labor costs.
yes the transition to the service economy is normal, but America is not only going broke, it is becoming over educated. The law of supply and demand applies to degrees as much as salt. We need a manufacturing and vocational base to provide decent jobs for the citizens who are not suited by termperment for higher education.
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