Corporations don’t pay taxes. They are vehicles for collecting taxes that are ultimately paid by some combination of customers in higher prices, workers in lower wages, and shareholders in lower returns on investment.
Lower corporate tax rates result in higher wages. Higher after-tax profits mean more corporate investment, which means more productive workers, whom companies can afford to pay more.
Are capitalism and free markets the reasons for income inequality? Or are misguided government interventions to blame?” John Cochrane, an economist and senior fellow at Stanford’s Hoover Institution quickly rattles off poor schools, occupational licensing, land-use rules, and disincentives to work as examples of things that keep people down.
“The teachers union has become the biggest obstacle to up- ward mobility and to breaking the cycle of poverty for poor and minority students.”
Occupational licensing is a nice way to say job restriction. Around 1,100 occupations, involving close to a quarter of U.S. workers, require licenses. For doctors and lawyers this might make sense, but for many low-skilled jobs, it’s a huge barrier and a root of inequality. Hair braiding in Mississippi used to require 300 hours of training and a license in “wigology” until workers fought back. It’s now a $25 fee.
Land-use restrictions might actually be a bipartisan effort to drive up home prices—the rules keep housing supply from keeping up with demand—but progressives have been heaping on regulations. Try getting a natural-gas hookup in many California cities. The California Energy Commission’s solar mandate adds $9,500 to the cost of the average new home. And don’t try using your own kitchen to sell cupcakes or creole. You’ll run into a goats-head soup of restrictive laws.
Disincentives to work include welfare payments that exceed what can be earned from working.
Speaking of economic freedom – look down this list to see where the US is.
Being a lifeguard in California can be unbelievably lucrative. If we had only known, many of us would have packed our bags and headed west for a career on the California beach.
OpenTheBooks.com found that lifeguards make a fortune in Los Angeles County. Seven lifeguards made more than $300,000 and 82 lifeguards had total earnings that exceed $200,000 in 2019, the latest year available.
Does this give you a clue on why CA taxes are the highest the US?
“How dreadful are the curses which Mohammedanism lays on its votaries! Besides the fanatical frenzy, which is as dangerous in a man as hydrophobia in a dog, there is this fearful fatalistic apathy. Improvident habits, slovenly systems of agriculture, sluggish methods of commerce, and insecurity of property exist wherever the followers of the Prophet rule or live.”
Churchill – The River War
Note, nothing has changed
Disaffection, racism and misogyny – really?
Former President Barack Obama released a statement on the Boulder shooting
saying recent killings are being driven by “disaffection, racism and misogyny” — despite Colorado officials identifying the gunman who slaughtered 10 inside a grocery store as mentally ill.
The shooters brother told the Daily Beast he was “very anti-social” and suffered from paranoia and possible mental illness.
But other recent mass shootings were committed out of religious zeal — which went unmentioned by Obama — by radicalized Muslim Americans whose families recently immigrated to the United States.
Barack Obama has been labeled ‘a racial arsonist’ by Tucker Carlson, with the Fox News host accusing the former president of emerging only to foment societal tension. Carlson said that the former president ‘took a break from becoming one of the richest men in the world’ to weigh in. ‘More than any other contemporary American leader, Barack Obama is a racial arsonist,’ said Carlson. ‘He emerges at our most vulnerable moments to deepen the wounds that divide us. He sows hate.’