Show me one country that has no taxes that you think is great. I have menitoned this before but when I was working in International Executive Compensation we would go around the world and design tax-effective compensation plans for the country managers of large multinationals. Sweden’s top rate was 95%! And Hong Kong’s was 15% flat. It was the lowest in the world. Still Hong Kong managers complained about paying too much taxes. Hong Kong was a wild east whereas Sweden was calm beauty. So what is tax effective comp? Non-cash items that are appreciated by someone so they are incentives, that cost less that cash to give. Spouse travel on business trips, Directorships, cars of course… I think Companies in the US could provide cars to employees with better tax consequences but they don’t because senior management in the US wants to feel superior to the unwashed masses. For a while, secretaries got cars in the UK. This cut taxes or swearing to God that they won’t raise taxes has had terrible results by any measure but from the billionaires and Corporations point of view. The two major disrupters of the economy, computer automation and globalization and the rise of India and China has benefited the owners and none has gone to employees.. And some of the blame is on the employees. They sit back and take the annual cuts in benefits that almost always offset any tiny increase in salary. Oh well…..I used to think I was put in IT to get them to organize. But they hated unions. So they get along until a big illness or divorce or housing bust exposes how fragile their lives are and homelessness is just a few bad turns on the road to happiness. So now, all these people are scared. They want what use to be, loyal employers, increases in income and benefits, stock, profit sharing and American #1 in everything.Trump promises that even though he might deliver it as a Dictator. And yes, a president can do a lot of things like declare martial law, put anybody in jail. Put all these wackos to work on the Trump Wall. Reduce staffing at agencies like IRS, EPA. What he can’t do is change physical laws that drive technology nor stop India, China and others from making things cheaper. So there is no going back; only forward. And only one party believes that. Wall Street is not a free open market that efficiently distributes investments in the best way for the greater good. Not any more. I find most conservatives still think of economics working the way they were taught in school. There was a little example of this with the housing bust. Wall Street wasn’t investing in business, creating long-term jobs. They were gambling on any borrower, a home owner or a local city, going bust. It was just like people buying fire insurance on someone else’s house or life. There are laws against that, yet we did nothing to change wall street from doing it again. The End.
http://ift.tt/2caqQkd from the Technology PhilosophyShow me one country that has no taxes that you think is great. I have menitoned this before but when I was working in International Executive Compensation we would go around the world and design tax-effective compensation plans for the country managers of large multinationals. Sweden’s …