I would say the majority of people say that laws are necessary and sometimes too restrictive or over-reaching; but, used in the right manner they can encourage or discourage public spending, business activities and activities of the populous. So, where are these carrot sticks for raising the economy?
Debate has been raised concerning the corporate tax rate. Why couldn’t we employ a sliding tax rate for corporations just like imposed on individuals? Except this tax rate would be lowered based on the costs of corporations derived from materials, operations, labor and contract services from United States based suppliers? The higher the percentage, the lower the tax would be going all the way to zero tax rate or maybe even a rebate from the government?
Other corporate tax laws would need to be evaluated as to how they could be overused to avoid the tax rate slide rule. This one idea would encourage corporations to minimize cheap overseas labor and materials and raise the employment level and wage of the U.S. workforce which in turn raises the tax base to reduce the deficit.
Additionally, why not make employer based training to improve skills and knowledge be encouraged as a part of that sliding tax rate. Yes, capitalism finds a way to survive; so, why not make survival depend on our own resources. And, for those materials not available from the U.S. make exceptions. Our country doesn’t possess all resources needed, but we do have the majority available.
Steve Tempia, Collinsville