Wonder why we’re enduring a now 6-year jobless recovery and very likely even worse to come? Part of it, according to a new international tally, is because we are close to the worst among industrialized nations in our tax burden on business: 32nd out of 34. Only better than Portugal and France.
“Since capital is mobile and businesses can choose where to invest, tax rates that are too high ‘drive investment elsewhere, leading to slower economic growth,’ as the Tax Foundation puts it.” Simple, really. Econ 101.
But don’t expect the Democrats to admit it. They love to tax. At least you can enjoy their rhetoric, if you don’t look behind the curtain. They’ll babble on about income inequality and how they’re going to punish those nasty one percenters who’re taking their investments elsewhere.
Feel better? They hope so. While always keeping their hands out under the table.