The cure for what ails is us the Entrepreneurial Spirit of this country...
...Entrepreneurs who create something out of nothing don’t care what tax rates are. Bill Gates didn’t monitor the marginal tax rate when he dropped out of Harvard and started MicroSoft (btw, it was a ton higher than it is today). Michael Dell didn’t wonder what the capital gains tax was when he started PC’s Limited, and then grew it into Dell Computer. I doubt that any great business or invention started with a discussion or even a consideration of what the current or projected income or capital gains tax was or would be.
The impact of tax rates on productivity and development is something economists masterbate (sic) about, enterpreneurs (sic) don’t waste their time thinking about it. We have business to do...If anyone that wanted an investment from me made a point of discussing tax rates as an impact on their business, I wouldn't invest in them. Ever.
Okay. Enough of this. Penn and Teller help us cut thru the BS of
Omananomics
Posted by: Fred Gregory | Oct 25, 2008 at 12:51 AM