The American Spectator

Streetcar Line

No Thanky to Paulson and Bernanke

By Quin Hillyer on 9.25.08 @ 12:08AM

(Page 2 of 2)

But the rest of the economy would be far more likely to be strong enough to absorb the losses.

In the long run, meanwhile, a strong and stable dollar will do more good, by attracting increased investment, than will any artificial effort to prop up the financial system with tax dollars and long-term government debt.

Again, this is not to suggest that eliminating the corporate income tax is all that needs doing in order to stabilize this shaky economy. Congressmen Paul Ryan and Jeb Hensarling and their colleagues on the House Republican Study Committee have a number of good ideas. So does Chairman Thaddeus McCotter of the House Republican Policy Committee. But the elimination of the corporate income tax is a simple way to cut the Gordian Knot in one quick motion; and by the standards of everything else being discussed these days, it is comparatively quite affordable.

To avoid the fallout from the bailout -- a bailout that is a philosophical sell-out -- take the corporate income tax and throw it out. Now.

Letter to the Editor

topics:
Taxes, Trade, John McCain, Barack Obama, Hank Paulson, Ben Bernanke, Energy, Oil