The economic cost of high taxation
December 25, 2011 |
I'm too pretty for math.
Gotta get that out of the way from the get-go, lest you think you are reading a post by a seasoned economist.
What I do have though is buckets of critical thinking and common sense. And I present to you the cost of high taxation. Case in point, the United Kingdom.
Ever heard of a company called Diageo? You likely haven't. Ever heard of a vodka called Smirnoff? Of course you have. Diageo makes it, along with Guinness and myriad other household brands. Their head office is in the UK – for now…
The boss of the world’s biggest drinks company claims Britain’s 50 per cent tax rate may force him to move the firm abroad.
Paul Walsh said Diageo – which employs 5,000 British workers and makes Smirnoff vodka, Guinness and Baileys – has stopped creating jobs in the UK because the tax le
vy on incomes over £150,000 makes the country uncompetitive.
Chief executive Mr Walsh warned: ‘If people think this situation isn’t serious, they are deluding themselves. I believe the 50 per cent tax rate will lead to the long-term damage of this nation’s competitive edge.’
As America slides ever closer to socialism and government nationalization, please look to countries like Cuba and the UK (think it's weird to say that in the same breath? it's not) and realize that governments don't create. Governments consume.
We are less than 54 weeks to the next presidential election in America. Americans need to think long and hard about whether they want Silicon Valley relocating to Indonesia; or staying here, creating jobs, and paying a modest tax rate.
I'm not shilling for a particular candidate yet. Ron Paul is a batshit crazy 9/11 Truther. Herman Cain is responsible for some of the worst pizza in American history – and really, how can you screw up pizza? Pretty sure Mitt and Rick are the same guy. And Newt is unelectable. But what I know for sure is that Obama is a socialist who would love to see a 50+% tax rate on American corporations.
Don't allow that to happen.
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