I tangle with my old nemesis Christian Weller, one of the statists at the Center against American Progress, in a debate on whether the corporate tax rate should be reduced. I was somewhat amused that Christian defended the current system because companies currently are earning profits. Maybe I’ll eventually convince him to be a capitalist.
The debate was fairly uneventful, but I was a bit disappointed that my comment about the Laffer Curve got buried at the end of the segment. The fundamental point is that America has a very high corporate tax rate by world standards, yet we collect relatively little revenue. My argument, not surprisingly, is that revenues are low because the tax rate is high.
Nice job, Dan. I guess it’s lost on people like Weller that maybe corporate tax receipts would be higher if the ever-higher tax rates he loves so much weren’t pushing company after company out of the U.S. But these dolts love to double down on failed policies, and then double down again, and so on. It’s unbelievably stupid.