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The Basement
The Facebook guy
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<blockquote data-quote="John Roberts" data-source="post: 51717" data-attributes="member: 126"><p>Re: The Facebook guy</p><p></p><p>I try not to invest too much effort into how to capture and spend OPM. Capital in free markets is very portable and routinely moves to wherever it gets treated the best and earns the best return (Singapore?). </p><p></p><p>We can try to force capital to stay here (Sen Schummer proposal) so the government can use it for their agenda, or make it naturally attractive for it to come here (and stay here) so it can be put to work, which will support "our" nation's economic growth. </p><p></p><p>We will have more success raising tax revenue while helping the economy by closing tax loopholes so we can lower the average rate, while still raising significant revenue for the government's business. The large corporations already enjoy the inherent advantage of size, they don't need additional tax benefits on top of that. Lets give small business a level playing field to compete. Economic studies have shown that independent of nominal rates, taxes can only extract a finite percent of GDP before growth stalls or reverses (I forget the exact number but in the 20s of percent). </p><p></p><p>IMO class warfare along with the shopping list of us-vs-them screed being promoted, (men-women, gay-straight, white-black, etc) is a distraction to divide us and take our eyes off real substantive issues. I am less concerned about one Saverin as the thousands following him out the door. This is indeed a symptom and a trend, but not of bad behavior by unpatriotic wealthy people, again just simple self interest of the smarted people in the room. We can effect a win-win by aligning their self interest with the nations (growing the "private" economy). </p><p></p><p>While I expect opinions vary. </p><p></p><p>JR</p></blockquote><p></p>
[QUOTE="John Roberts, post: 51717, member: 126"] Re: The Facebook guy I try not to invest too much effort into how to capture and spend OPM. Capital in free markets is very portable and routinely moves to wherever it gets treated the best and earns the best return (Singapore?). We can try to force capital to stay here (Sen Schummer proposal) so the government can use it for their agenda, or make it naturally attractive for it to come here (and stay here) so it can be put to work, which will support "our" nation's economic growth. We will have more success raising tax revenue while helping the economy by closing tax loopholes so we can lower the average rate, while still raising significant revenue for the government's business. The large corporations already enjoy the inherent advantage of size, they don't need additional tax benefits on top of that. Lets give small business a level playing field to compete. Economic studies have shown that independent of nominal rates, taxes can only extract a finite percent of GDP before growth stalls or reverses (I forget the exact number but in the 20s of percent). IMO class warfare along with the shopping list of us-vs-them screed being promoted, (men-women, gay-straight, white-black, etc) is a distraction to divide us and take our eyes off real substantive issues. I am less concerned about one Saverin as the thousands following him out the door. This is indeed a symptom and a trend, but not of bad behavior by unpatriotic wealthy people, again just simple self interest of the smarted people in the room. We can effect a win-win by aligning their self interest with the nations (growing the "private" economy). While I expect opinions vary. JR [/QUOTE]
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