Richard Florida, who is the author of “The Rise of Creative Class,” posed the following vital questions in his recent article “Free, Tolerant, and Happy” in The Atlantic: To what extent is economic freedom associated with tolerance and happiness? Are freer nations also more tolerant? Are their residents happier than those of other nations? To what extent is economic freedom also associated with other factors like affluence and material well?being, the level of human capital, and the transition to postindustrial economic structures? And what is the relationship between freedom and …
President Obama is proposing raising more than $100 billion in new taxes from American businesses by limiting their ability to defer tax on profits earned abroad. The President believes that by penalizing them, U.S. companies will have more incentive to keep jobs in the U.S. rather than shipping them overseas. Of course, that isn’t how it works. In fact, this proposal could put U.S. companies out of business, by putting them at a competitive disadvantage to their international counterparts. But this is all pretty complicated, so watch this video, courtesy of The …
First the good news: earlier this week President Barack Obama admitted that high taxes kill jobs. Now the bad news: he wants to raise taxes on U.S. companies anyway. Pitching his new tax reform plan Monday President Obama said that our tax code “says you should pay lower taxes if you create a job in Bangalore, India, than if you create one in Buffalo, New York.” As the Wall Street Journal quipped: “That sounds like a great argument for lowering taxes on the guy creating jobs in Buffalo. Alas, that’s …
