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What's Debt Got To Do With It? A Lot
Just one small quibble with your well-argued piece: VAT does not have an import protectionist effect. It is essentially a consumption tax imposed equally on domestical and foreign added value in goods and services purchased for domestic consumption. What is needed, as you point out, is the restoration of a progressive income tax regime that would also incentivize small business investment, andm by the way, also help reduce the forces favouring big business over small business.
I do not think that more import protectionism is a solution. As a temporary measure, perhaps; but not as a permanent element of a strategy aimed at promoting investment and more abundance for all. However, privileged free trade agreements are another story. They tend to be part of a game mainly designed to benefit US special interests, especially multinationals staking out what are effectively regional markets protected from their non-US-based multinational competition.
Thanks for your intelligent elbow grease.
Aug 26 09:33 PM
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