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  • hans_sylt_nordfriesland hans_sylt_nordfriesland Oct 31, 2013 9:37 AM Flag

    U.S. lowering its deficit by increasing taxes on corporations, businesses, and high income workers

     

    According to the U.S. Treasury, 79% of the decline in its deficit, which is still out-of-control despite the drop, is accounted for by higher tax revenues.

    The other 21% of the decline came from cuts to defence and other spending and was offset by higher spending on entitlement programs for the poor and/or retired.

    In other words America's welfare state is growing and becoming a less and less competitive a place to do business.

    American businesses will certainly notice that their tax bills have increased, and be looking for ways to reduce them. The leftist politicians pandering to the mob are certain to keep taxing business and success, and especially big business, to subsidize failure. It is the way of the Roman Emperors, and the Imperial American way.

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