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I'll worry about America becoming Western Europe when there's a serious proposal to raise marginal tax rates on high incomes over 50%
Until then, it's just hyperbole.
On government staying out of the way of business - you never hear business complain about the things government does that work well, or to their benefit.
For example, when Boeing sells aircraft to overseas airlines, it's taking on hundreds of millions of dollars of risk. It covers that risk by getting financing from the US government. Essentially, if the foreign airline defaults and does not pay Boeing, the US government will give Boeing the money. (Not for free - it works a bit like an insurance policy) The market won't provide this insurance because the risks involved are too great.
More export financing by government = more Boeing planes sold = more Boeing workers in America and through Boeing's supply chain + more investment by Boeing in America.
And it's enabled by a huge government involvement in a private company's business.
And this is just an example. Government staying out of the way of business looks good on a placard, but like most broad principles when you get down to what it actually means, it becomes problematic.
Rather than government staying out of the way of business, it has to listen to business (as one of many stakeholders) and make investments where they are needed the most. So more things with long-term benefit to the economy that the market does not provide (infrastructure projects, education programs, training initiatives, financing, whatever) and fewer bridges to nowhere, etc.
Congrats to President Obama on winning his reelection effort. Nov 07, 04:42
On the Secretary of Business stuff, economic development is different to what a Treasury Secretary should be responsible for. Nov 07, 07:21
There is plenty of overlap. I guess I just want business to by and large stay out of the way of business. Nov 07, 07:53
Of course, I misspoke. As for western Europe comparison, we will soon (2014) begin implementing Nov 07, 11:08
I'll worry about America becoming Western Europe when there's a serious proposal to raise marginal tax rates on high incomes over 50% Nov 07, 08:16
I am not a fan of the Import/Export Bank. I appreciate your comments, but we clearly disagree. {nm} Nov 07, 11:04
Makes sense right? Puts bacon on the table for you. {nm} Nov 07, 15:56
Come on dude. I'm being open with you. Theres no need to be dismissive because we disagree {nm} Nov 07, 17:57
I am not dismissing you bro. We are all bound to our experiences and whatever values we hold to. Nov 08, 04:59
Sure you are - that's why you said that I think the way I do because I am paid to do so. Nov 08, 08:18
I do not believe in straight-up zero government intervention Nov 08, 10:42
Sure. I'm off on vacation starting tomorrow anyway. Nov 08, 19:59
Wow a lot to chew on there. New thread? Email going forward? Nov 09, 04:28
Like I said, vacation. We can talk in a week. {nm} Nov 09, 07:20
Business should stay out of business, just like there's no intelligence in the CIA. {nm} Nov 07, 10:45
meanie Nov 07, 11:08
