The ‘Border Adjustment Tax’: Great Tax Reform – That Gets Us Great Trade Reform
February 2, 2017
Our nation’s tax code is a nightmare mess of thorny brambles. Interwoven with other thorny brambles. Behind a high wall of thorny brambles. It is anti-citizen. And it is anti-anything-productive citizens choose to do – up to and especially including engaging in anything having to do with business.
Many, many facets of our tax code are anti-Constitution. For instance – do you like the Fourteenth Amendment’s equal-protection-before-the-law clause? The tax code doesn’t. There are seven different individual/family tax rates. Get that? One law – seven different rates. Not even close to equal protection.
Then there are the anti-American-productivity facets. Do you like doing business? Or being hired by a business? Or purchasing things from business? Our tax code doesn’t. In a global marketplace – where our businesses are competing against not just businesses across town and from Des Moines and Dallas, but also places like Dubai and Dublin – our government saddles our businesses with the world’s highest corporate tax rate (35%). Which is…unhelpful.
Now-President Donald Trump is now-President Donald Trump in large part because Candidate Trump repeatedly pointed out that so many things our government does to the citizenry is just this awful. And Trump rightly saw this as why businesses have spent the last several decades moving out of America. More