tax

When tax rates were steep, executives had more incentive to leave money in the company —investing for future growth, sharing with staff or hiring more people. Nowadays, with taxes so low, CEOs have more incentive simply to pay themselves. That’s a recipe for greed, not growth.

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The old tricks aren’t working any more. The government’s tools for a weak economy have been to lower interest rates, borrow and spend, or have a war. Now, interest rates are so low that you can’t earn enough on your savings to keep up with inflation, the government owes $31,666 for every man, woman and child in America, and we have two of the longest running wars in U.S. history. more »

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My column last week criticizes ABC's Charlie Gibson for using his position as debate moderator to focus the presidential discourse on the supposed unfairness of asking very wealthy people to pay the same tax rate on their stock profits as their servants pay on hard earned wages. more »

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