The American Spectator : No Thanky to Paulson and Bernanke

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No Thanky to Paulson and Bernanke

By Quin Hillyer on 9.25.08 @ 12:08AM

Another way to meet the crisis.

(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.

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

About the Author

Quin Hillyer is a senior editor of The American Spectator and a senior fellow at the Center for Individual Freedom.

Letter to the Editor View all comments (1) | Leave a comment

Logan B.| 3.17.09 @ 4:56AM

The housing market and the economy for that matter is really shaky and not in its greatest shape. The government and other sectors have different views and plan to crackdown the true issue of economic crisis. Lots were worried of the foreclosures because of the piles and piles of unpaid mortgages. Discussions about it were endless whether the housing market is down or it will bounce back. The next question would be, when? When will this crisis end? Many homeowners are now bothered to death. They never thought their house as a venture but a home to live in, raise a family and enjoy life. Not the evil stepmother who in no time will just take away their fantasy and great life. However, for those homeowners who never consider their house as an investment, think again. You can still get an amount of cash if you will have the time and effort to improve your house and sell it out at the right time on the housing market.