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Mark Steyn: U.S. business could be cooked in a VAT [Value Added Tax]
The Orange County Register ^ | March 26, 2010 | Mark Steyn

Posted on 03/26/2010 5:24:30 PM PDT by 2ndDivisionVet

May I be boring? Or, if you're a regular reader, more boring than usual?

Bear with me. There's some eye-glazing numbers and whatnot.

In 2003, Washington blessed a grateful citizenry with the Medicare prescription drug benefit, it being generally agreed by all the experts that it was unfair to force seniors to choose between their monthly trip to Rite-Aid and Tony Danza in dinner theater. However, in order to discourage American businesses from immediately dumping all their drug plans for retirees, Congress gave them a modest tax break equivalent to 28 percent of the cost of the plan.

Fast forward to the dawn of the Obamacare utopia. In one of a bazillion little clauses in a 2,000-page bill your legislators didn't bother reading (because, as Congressman Conyers explained, he wouldn't understand it even if he did), Congress voted to subject the 28 percent tax benefit to the regular good ol' American-as-apple-pie corporate tax rate of 35 percent. For the purposes of comparison, Sweden's corporate tax rate is 26.3 percent, and Ireland's is 12.5 percent. But just because America already has the highest corporate tax in the OECD is no reason why we can't keep going until it's double Sweden's and quadruple Ireland's. I refer you to the decision last year by the doughnut chain Tim Hortons, a Delaware corporation, to reorganize itself as a Canadian corporation "in order to take advantage of Canadian tax rates." Hold that thought: "In order to take advantage of Canadian tax rates" – a phrase hitherto unknown to American English outside the most fantastical futuristic science fiction.

Ask yourself this: If you impose a sudden 35 percent tax on something, are you likely to get as much of it? Go on, take a wild guess.(continued)

(Excerpt) Read more at ocregister.com ...


TOPICS: Business/Economy; Editorial; Government; Politics/Elections
KEYWORDS: economy; healthcare; liberalfascism; obama; obamacare; socialisthealthcare; socializedmedicine; taxes
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To: 2ndDivisionVet
So that's a thousand fewer people who'll be working on new stuff. Well, so what? The public won't miss what they never knew they had. So, again, the effect is one of disincentivization – in this case, of innovation.

Everything we "discover" about ObamaCare will be a horror in waiting... Steyn sees the future.

21 posted on 03/27/2010 8:35:34 AM PDT by GOPJ (http://hisz.rsoe.hu/alertmap/index2.php?area=dam&lang=eng)
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To: knews_hound

Looking good.


22 posted on 03/27/2010 8:41:01 AM PDT by mylife (Opinions...$1 Halfbaked...50c)
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To: knews_hound

The SH**** part of remodeling kitchens and bathrooms is they get used and that always slows progress.


23 posted on 03/27/2010 8:42:56 AM PDT by mylife (Opinions...$1 Halfbaked...50c)
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To: knews_hound
I hope you are feeling better.

The swelling has gone down and I can read again...

Thanks


24 posted on 03/27/2010 8:44:47 AM PDT by darkwing104 (Lets get dangerous)
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To: Dr. Scarpetta

ping


25 posted on 03/27/2010 8:47:40 AM PDT by GOPJ (http://hisz.rsoe.hu/alertmap/index2.php?area=dam&lang=eng)
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To: 2ndDivisionVet

What is magic jack?
Is that dial-up service?


26 posted on 03/27/2010 8:57:25 AM PDT by Scotswife
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To: Scotswife

http://www.magicjack.com/2/?mid=308001&a=55959&s=7

It’s VOIP “voice over internet protocol”

You need a broadband internet connection first, but it works great. I use vonage but should dump it for magic jack


27 posted on 03/27/2010 9:20:03 AM PDT by mylife (Opinions...$1 Halfbaked...50c)
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To: mylife

Thanks for that!

A few years ago we tried to get a DSL signal but failed.

I should give it another try and see if they’re able to do it now.


28 posted on 03/27/2010 9:23:59 AM PDT by Scotswife
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To: 2ndDivisionVet

Interesting he should mention Tom Horton’s. It seems to be the ONLY fast food establishment NOT to be booted out of military facilities in Afghanistan.


29 posted on 03/27/2010 9:36:50 AM PDT by EDINVA
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To: Scotswife

I haven’t tried DSL but cable VOIP works well.


30 posted on 03/27/2010 9:47:26 AM PDT by mylife (Opinions...$1 Halfbaked...50c)
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To: GOPJ

Thanks for the ping. All we need now is the VAT tax...


31 posted on 03/27/2010 9:59:56 AM PDT by Dr. Scarpetta
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To: Scotswife

No, it’s a Voice Over Internet Protocol (VOIP) similar to Vonage, but only $20/year (2nd and ongoing years) vs. $20/month. Bought it at Wal-Mart but it’s available other places and online. First year is free. It uses your high speed Internet to make calls, so long distance is free.


32 posted on 03/27/2010 10:17:01 AM PDT by 2ndDivisionVet (If we're an Empire, why are Cuba, Iraq, the Philippines, Japan & Germany independent?)
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To: 2ndDivisionVet

Works good?


33 posted on 03/27/2010 11:10:41 AM PDT by mylife (Opinions...$1 Halfbaked...50c)
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To: 2ndDivisionVet

Steyn nails it.


34 posted on 03/27/2010 11:25:24 AM PDT by Gritty (Today the future lies between the certainty of decline and the probability of catastrophe-Mark Steyn)
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To: 2ndDivisionVet

does magic jack really work?


35 posted on 03/27/2010 1:34:33 PM PDT by cherry
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To: cherry

Yes. Any problems I have are due to my ISP, not Magic Jack.


36 posted on 03/27/2010 1:36:42 PM PDT by 2ndDivisionVet (If we're an Empire, why are Cuba, Iraq, the Philippines, Japan & Germany independent?)
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To: mylife

It works fine unless my ISP is on the fritz or down.


37 posted on 03/27/2010 1:39:27 PM PDT by 2ndDivisionVet (If we're an Empire, why are Cuba, Iraq, the Philippines, Japan & Germany independent?)
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To: knews_hound

The re-model on your bath is taking shape! I did one a couple of years back.


38 posted on 03/28/2010 8:24:05 AM PDT by wjcsux ("In a time of universal deceit, telling the truth becomes a revolutionary act." - George Orwell)
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To: 2ndDivisionVet

Emerson Electric announced that they were moving overseas. The CEO said that the high cost of manufacturing in the U.S. and government over-regulation were driving them out of the country. This was a true American company that is over 100 years old.


39 posted on 03/28/2010 8:32:53 AM PDT by wjcsux ("In a time of universal deceit, telling the truth becomes a revolutionary act." - George Orwell)
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To: SnuffaBolshevik
This is not an unforseen consequence. This is in fact, INTENDED.

He is on a mission to destroy the U.S.A.

40 posted on 04/07/2010 1:48:08 PM PDT by Paul Ross (Ronald Reagan-1987:"We are always willing to be trade partners buTt never trade patsies.")
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