Thursday, December 09, 2010

Abolish the corporate income tax....

I always like ideas to reduce taxes. The more we deprive the leviathan of government money the less able they are to expand government. I also like increasing consumption taxes and decreasing income taxes.

To my mind, the most interesting part of Mr. Kent’s proposed abolition of corporate taxes is his evident belief that it is now within the realm of political possibility. “Familiarity … can … breed acceptance. It is unlikely to be long before normal doses of spin doctoring are enough to weaken the resistance to further cuts in corporate tax.”

The U.S. has just effected a big compromise on taxes. If all it would taken is normal spin doctoring for our political class to be able to effect a dramatic change in tax philosophy, the only reasonable response is “Spin, baby, spin.”

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