SWEET SMELL OF TAX
PROPAGANDA
.
The proposed border tax is an
attempt to find a new revenue source to offset tax cuts for corporations and
the very wealthy without increase the federal deficit. The goal is economic
vitality without adding additional burdens on the poor. That is good…right? My father, a great businessperson, used to
say, “Every good has its own bads.” In
his case, financial growth meant prosperity but more work. Ideal changes are those that lead to more
“goods” and less “bads.” However, when
you must settle on a balance between the two, the change may not be worth the
effort.
.
New Koch Brother TV ads oppose
the proposed boarder tax. Their group, Americans
for Prosperity, is broadcasting the message that a border tax is bad for the
economy. They prefer an offset of federal spending. Of
course, according to the New York Times they object because a border tax, “would
lead to huge new taxes on the petroleum and coal products industry, which
includes some of Koch Industries most profitable subsidiaries.” So, stopping the border tax is good.
.
Other funding
sources to offsets corporate tax relief include reductions in such things as the
mortgage deductions, the deductibility of employer-sponsored health plans, and
charitable deductions for individual income taxes, says Stanford University
Hoover Institution’s tax policy expert, Tammy Frisby. Further offsets considered are cuts to
education, research, federal disaster relief, international aid, poverty
assistance, food stamps, Social Security, the VA, as well as health services. So then, stopping a border tax is bad.
.
Originally,
the border tax was part of multipronged tax reform effort to bring expatriated dollars
and industries back home, to provide for large-scale infrastructure projects,
and pay for a border wall. Nonetheless,
I thought the tax reform was a serious attempt to close tax loopholes, simplify
returns, and even an odd notion of closing the IRS. Changes of some kind are coming and they all
carry a host of bads and goods.
.
However it
shakes-out, the worst “bad” of all is the stink these contentious changes will
raise. The next few months the air will fill
with the odor of tax overhaul arguments. An indication of how odious the results will
be is the expensive public TV ads perfuming the upcoming ranker. It must be bad, because the public has no
direct say or vote on the matter. So,
get prepared for the “sweet smell” of propaganda. Think of the perfumed stench as part of the
“good” that comes with the “bad.”