I am reading John Stossel’s book “NO, They Can’t” and am so pleased at the many cases and examples that are simply outlined for the reader – displaying why crony capitalism is bad for everybody and big government regulators and crony capitalists are hand-in-hand with their manipulative effects on the market. And why this is having a devastating effect on people’s pocketbooks.
I guess there were (or are) even tax-breaks for having alpacas. Really? REALLY? And of course, the tax breaks caused people to purchase these animals in larger quantities, drove up prices (since demand increased), and now the bubble is bursting and people can’t sell their ‘investment’ for what it is worth. The poor animals.
Tax-breaks, subsidies, regulations, licenses, fees, etc. are all interferences in any economic activity. There is a place for taxes and for regulation – but certainly not at the federal level for most interactions among individuals, communities, and states. States and localities deserve the lion’s (alpaca’s?) share of taxes since the States and localities serve (or should serve) most of their citizen’s needs for public goods and public utilities.
Tax breaks for Alpacas? From the federal government? Give me a break. There should be tax breaks for ALL Americans. For individuals who are struggling paycheck to paycheck to survive – filling up their gas tank and buying enough food to feed their family. And for businesses that are struggling to keep their doors open with an economic recession that is still omnipresent. In addition to tax-breaks, there should be less worthless federal regulations that do nothing to help or protect the American people.
While I am on the subject – the tax code should be abolished and re-written – with something that is simple. The federal government is wasting too much of our money – I would prefer to give more of my taxes to the State and to localities for things that are closer to home, that will actually have an effect on my life, and that are more transparent. Because the government works for us – and WE are the government… right?