That giant sucking sound of American jobs is getting louder. But is it really NAFTA ?

9 thoughts on “That giant sucking sound of American jobs is getting louder. But is it really NAFTA ?”

1. The relevant gaming tax rate for Colorado casinos is between 16 and 20% (on top of the applicable corporate taxes and property taxes and device taxes).  In competing states — NV, MS, SD, NJ — the state tax rate is between 6 and 8%.  It’s not surprizing that Colorado is not among the jurisdictions that companies (Harrahs, MGM/Mirage, etc.) that build casinos invest in.  IMHO, that’s why a lot of the casino buildings in Blackhawk, Central City and Cripple Creek are vacant.

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2. Giuliani wants to cut corporate tax rates, and capital gains taxes

   NEW YORK (Reuters) – Republican presidential hopeful Rudy Giuliani has proposed what he called a multitrillion-dollar tax cut that would lower the corporate tax rate from 35 percent to 25 percent and reduce the capital gains tax from 15 percent to 10 percent.

   The proposal, unveiled by Guiliani’s campaign on Wednesday, would preserve the 2001 and 2003 tax cuts enacted by President George W. Bush, eliminate the estate tax and give taxpayers the option of choosing a simplified tax form with three tax brackets with a maximum bracket of 30 percent.

   “Giuliani’s tax plan makes all the Bush tax cuts permanent, including full repeal of the death tax,” the former New York mayor’s campaign said in an appeal to fiscal conservatives.

   The plan was praised by tax-cutting advocates like Grover Norquist, president of the Americans for Tax Reform.

   http://www.reuters.com/article…

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   1. In the South Carolina Republican debate on FOX, Thompson jumped on Huckabee’s record and proposals with both feet,  calling Huck a DEMOCRAT.

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      1. Thompson accused Huckabee of ignoring the principles of Reagan.
         
         “This is a battle for the heart and soul of the Republican Party,” Thompson said, adding that going the way of Huckabee would endanger Reagan’s formula for a strong U.S.

         “He would be a Christian leader, but he would also bring about liberal economic policies, liberal foreign policies. He believes we have an arrogant foreign policy … he believes that Guantanamo should be closed down … he believed in taxpayer-funded programs for illegals, as he did in Arkansas. He has the endorsement of the National Education Association, and the NEA said it was because of his opposition to vouchers. He would sign a national ban on smoking, so much for federalism, so much for states rights. ”

         That’s not the model of the Reagan coalition….That’s the model of the Democratic Party.

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3. For God’s sake, when corporations were paying about 35% of the federal income, we had a strong middle class.  Do the corps not benefit from the publicly financed schools, road, courts, military, etc?  Of course they do!

   Now the corps are at about 7% AND they are sucking up welfare because they control congress.  We live in a plutocratic corporacracy!
   

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   1. It answers that. With facts and case histories.

      As incredible as it may seam to you, lowering the corporate tax rate has and will increase total tax revenue. (within reason.) Not if you lower it to zero, but that’s not the proposal.

      This is interesting. Taxes and revenue are not static.  Its not a zero sum gain or loss.

      America and the majority of Americans will be better off if American business is more competitive in the world economy.  That applies to all income levels, poor – middle class –  and the rich (which is what I aspire to be someday.)
      

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      1. The one thing Poppy was 100% correct on was calling this bullshit voo-doo economics.

         Oh, and I’ll give him credit for helping Clinton turn the economy around.  It took both, and it took taxes, selectively targeted.  

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