5/04/2009

Coast to Coast AM show started an hour early

Show started at 1 AM EDT. You can get the link here.

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posted by John Lott at 1:32 AM

3 Comments:

Blogger SactoMan01 said...

John,

I think if you really want our economy to flourish like you said on Coast to Coast AM, we need to increase the level of private savings and investment. And the only way to do so is by a drastic overhaul of our entire national taxation system so it favors more savings and capital investment.

The big problem with our current income tax system is that it is needless complicated, will cost Americans around US$350 BILLION in 2009 to comply with 2008 taxes (and that's just on the Federal level only!), and causes too many Americans to spend too much time in tax avoidance either by deliberate cheating on tax forms, participating in the underground economy (some have estimated as high as US$2 trillion in this activity) and American citizens and companies offshoring as much as US$17 TRILLION in assets by some estimates just to avoid taxes in places like the Bahamas, Bermuda, Cayman Islands, Panama, Singapore, Switzerland, etc.

That's right, US$17 TRILLION. Why is it sitting in an offshore financial center instead of flowing directly in the US financial system? We can imagine what would happen if we can bring the vast majority of those financial assets back to the USA: the stock market malaise would stop IMMEDIATELY, we can make most of our distressed corporations whole again, and we get a gigantic new liquidity base for new loans and lines of credit so desperately needed to keep businesses going.

Whether by drastic simplification of our current tax laws with far few deductions and credits with an emphasis on encouraging more savings and capital investment combined with a capped 20% maximum marginal tax rate, a non-deductions 4-6% "flat" income tax, or phasing out the income tax in favor of a true consumption tax system like FairTax, fixing our national taxation system should be the next major priority for the Obama Administration if he wants REAL economic recovery.

5/04/2009 8:33 AM  
Anonymous Anonymous said...

Oi. Parabéns pelo excelente blog. Gostaria de lhe convidar para visitar meu blog e conhecer alguma coisa sobre o Brasil. Abração

5/04/2009 3:02 PM  
Blogger Derek Flint said...

Heard the show and it was great; you have a great knowledge and speak very convincingly about gun control and other important issues. Seriously, you should be on the Alex Jones show. I have no doubt if you talked with Alex, he would want you on the show. The Alex Jones show has a large audience. Check it out: http://www.infowars.com

5/05/2009 2:06 AM  

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