What’s America’s worst problem? Maybe it’s that consumers are so eager to spend money that products like these exist at all - even in theory.
Keeping more money in our collective pocket would make everything better. It would increase savings, reduce the unnecessary use of limited resources, and reduce the power over our lives of the corporate class that now so thoroughly controls the election and policy decisions of our government representatives.
As we listen to the repeated argument about the urgent need to lower corporate tax rates so companies can stay competitive, I though it might be enlightening to have a look at the actual taxes paid by corporate America in 2016.
This list is of 20 US companies posted total revenues of $3.2 trillion in 2016 which equals 20% of total GDP for that year. (Source: Forbes)
While representing a whopping 20% of GDP (GDP is defined as "all economic activity in the US") ...the total taxes paid in 2016 by these 20 companies was $108 billion which only 0.6% of GDP and 3.6% of the $2.99 trillion of the total federal taxes collected from all sources for the year ...which for me begs the question: How much lower does the US corporate tax bill need to be???
What is the most reprehensible innovation human beings have yet produced? The atom bomb seems the leading contender, but I’d posit that the vertical airplane seat is a close second. Airbus came up with this idea in 2003, and since then multiple budget airlines have flirted with it. To call it a “sea...