I’m sure a lot of you have seen the picture in your email. It was taken in May of 2008 and the title of the book is “The Post-American World” by Fareed Zakaria.
By the title, you would think this was horribly anti-American. However, if you read about the book or just plain buy and read it, you will begin to see what is driving some of Obama’s policies today – during his Presidency.
Don’t get me wrong – I’m not justifying The Great One’s actions, but it is a good idea to know what drives the opposition. Oddly enough, there are some things that Zakaria has right.
This is a world where the U.S. had the lowest corporate tax rate 20 years ago and now has the second highest — not because the U.S. rate was raised, but because everyone else lowered theirs!
Now, I haven’t researched all of the tax rates over the last 20 years. However, it is widely reported that the US has the 2nd highest corporate tax rate so I will take Zakaria at his word.
Let’s keep it simple. What other “corporate issue” has taken place over the last 20 years? Can we say “outsourced labor”? Do you see the parallel? Raise the tax rate, or least don’t decrease it, and you put your businesses at a higher vulnerability.
The solution goes back to the Reagan era and trickle down. Decrease expenses on the corporations and upper-income earners and the money will flow.
The U.S. can thrive in this economic environment because it is not a zero-sum game. The pie is expanding and we can all have our share.
Maybe Obama should pay closer attention to this book. After all, the liberals moan and complain about taxing the rich more – but this guy argues somewhat against that.
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