Retroactive taxes!
Topics: Budget
03 Aug 1993
From: ervan
Fearing no bounds of economic or temporal reality, Clinton and his
minions are trying to find more money for their continuing folly.
Why not just make the tax retroactive to Jan 1 1970 and raise
the rate to 75%? We could pay off the debt in a single day!
I often hear complaints that the problem with American business
is that it doesn't plan for the long run. With government
policy wrt taxes, tariffs, and which companies to subsidize
(e.g. Sematech) changing every year, it's no surprise companies
don't plan for the future. Since congress will screw it up
no matter what you do, there is no point in worrying about anything
beyond the current fiscal year. Well, no longer, even what's
already done is not safe. If people cannot plan on keeping
their post tax share, it will only exacerbate capital flight.
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