Subj : =?UTF-8?Q?Re=3a_Pedro_S=c2=a0nchez_is_living_m?=
To   : Boraxman
From : Tracker1
Date : Fri Apr 08 2022 08:45:05

On 4/4/22 02:39, Boraxman wrote:
 >
 > I disagree that "the market" will sort out the dodgy players.  It may
 > for a restaurant which poisons many, maybe, but for large businesses,
 > no.  The institutions which nearly brought down the worlds economic
 > system in 2008 still have customers.

I think a free market *can* work, however governments tend to prop up 
business institutions and grant far more power and leeway than should 
probably be allowed for limited liability and collective ownership.

I also think it's time to get rid of corporate income tax, require all 
political donations and advertising only from private donations and/or 
institutions where all donations/funding are from individuals and the 
books are open.

As to displacing the corporate tax, for what it is, I would suggest 
transaction and exchange taxes.  0.1% on all stock, bond and currency 
trades with ~5% on all loans that are not for a primary residence or one 
vehicle per individual, another ~5% for loans that have an interest 
below the Fed rate, and another ~5% where the payoff is more than 10 
years.  This would also properly tax those that use ever broadening 
loans to pay for multi-millionaire/billionaire lifestyles without ever 
actually paying taxes.  I'd also rather see a vat over income tax as 
well as a return to a stronger use of tariffs and excise taxes.

I always thought property taxes were kind of gross though.  I don't 
think living another year while owning property should be a taxable event.

Back to the matter at hand... I think with some restructuring of tax 
basis, combined with lessening the liability protections corporations 
receive and a few other points, a (mostly) free market can work.  That 
said, international trade is never going to be a free market, and thus 
some level of protection for one's own nation is probably prudent.

I'd also like to roll back IP protections to something much more sane.
-- 
Michael J. Ryan - tracker1@roughneckbbs.com
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