Once Lost, Integrity is Difficult to Regain
I like Bill Buckley, Frederic Bastiat, Milton Friedman and a whole host of other conservative luminaries. But I am a conservative first and foremost – because I loathe lies and liars. And Leftism – is a giant lie.
All the lies told by all of Leftism’s practitioners – are told in service of hiding the fact that the Big Idea behind all of it is hopelessly failed and fraudulent. What is particularly annoying for a conservative – is when other conservatives do their best Left impersonations, and lie to advance a bad idea.
I speak of the very good idea that is the Border Adjustment Tax (BAT) – and the lies some conservatives are telling to try to stop it.
What is the BAT?: “Under (this) tax reform, this system would not tax the exports of American companies, but would tax the gross value of any imports into the country. The new rate of tax on corporations is expected to be 20 percent, so that would also be the de facto rate of tax on imports.
“U.S. companies would immediately be on equal footing with their international competitors, the great majority of whom benefit from territorial taxation and border adjustability today. American firms would be further advantaged by tax reform’s low 20 percent tax rate on corporations (down from a global high 35 percent today), and full business expensing of asset purchases (replacing multi-year depreciation deductions).
“Instead of taxing exports and not imports, we’d be taxing imports and not exports. Instead of reading about corporate inversions and outsourcing, we’d be reading about jobs and firms moving into the U.S. to take advantage of the favorable tax rules here.” More