Tuesday, June 15, 2010

Dark at the end of the tunnel

The U.S. economy continues to suffer under the yoke of oppressive government intervention and regulation. As a solution, Congress proposes more of the same: Democrats' tax bill moves toward vote in US Senate.

While I am glad not to be one of those seeking employment in this economy, I don't see how indefinitely extending benefits to the unemployed does anything more than remove incentive to gain employment. We can wring our hands all we want over the situation, but we will not improve it without changing the way we do things.

Of course, the solution to paying for this extension involves a new tax. This levy is meant to target those greedy fund managers who profit from managing investments. Clearly these gluttonous denizens of Wall Street can do with a 65% tax on their income earned trying to make investment and growth a reality. While I don't have a specific concern for these particular targets of the government tax machine, the fact is that this tax will join the ever growing pile of regulatory suffocation known as the U.S. Tax Code, never to be heard of again, at least not publicly. I have two words in response to this: Fair Tax.

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