Well, we applaud Gov. Bush for putting it front and center in the Journal’s op ed page.<\/p>\n
We also like the cut in corporate rates to 20%, which is much lower than the currently published 35% (no one with depreciable assets really pays that). Personally, we’re down around 12% now, and we’re not that big.<\/p>\n
And, at least he’s only going to whack the unrepatriated trillion or so that sits offshore 8.5%, which is better than little Barry and the Minions rate of 35%. Actually, it’s our contention that it shouldn’t be taxed at all, because the corporations who earned it have already paid tax once, either to the US or and foreign governments, or both.<\/p>\n
But the big problem that we have with his plan is that there’s no discussion of how we pay for it. We think we’re about $200 billion upside down in the current year vs. revenues, and the debt stands at $19 trillion, which are Grecian proportions, and in this case, that’s not a good thing.<\/p>\n
So, we could logically expect to add about $500 billion to the deficit while we’re getting to 4% growth. Presumably, we’re in balance at 4%\u00a0(although this isn’t specified, either).<\/p>\n
So, good 1st stab at things Jeb, contributed to the debate, now let’s put a little more meat on the bones. Go wake up Art Laffer.<\/p>\n","protected":false},"excerpt":{"rendered":"
Well, we applaud Gov. Bush for putting it front and center in the Journal’s op ed page. We also like the cut in corporate rates to 20%, which is much lower than the currently published 35% (no one with depreciable … Continue reading