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Here is the problem with libertarian and conservative notions. No, they aren't incorrect, let us get that straight. What is wrong is the promises. If conservatives and libertarians take over the government and the Democrat party simply disappeared down the memory hole, and that was that for all time, within certain parameters, AND that happened today, it would take time to work through the details and even begin on a road to recovery. That road would not be a short little painless turning of the corner and eventual reversing of course at various speeds depending on 'traffic and road conditions'. Not only have many political, social, and economic roadblocks been created to stop or at least slow the economy from going or growing in the right direction, the trip even without impediments is very long. Government and banking have been sprinting and crawling and sneaking to economic madness for a century. The best we could do, in the short term, is perhaps plant seeds for growth in a decade or two, water those seeds, and wait. Our education system is in ruins, our social fabric is shredded, our industry and to some extent resource development have been compromised or out-right crushed. We are hurting.
I see here, in articles like this, where it is assumed that ending the death tax in Ohio will, seemingly, suddenly create wealth, jobs, state revenue, and maybe lollipops for all?
What most of the critics don't understand is that repeal of the estate tax ultimately means more tax dollars, not fewer. A 2009 Duquesne University study found that state and local governments lost some $3 in non-estate tax revenues for every $1 increase in federal estate tax revenue. Overall, the study calculated, eliminating the federal estate tax would boost state and local tax revenues by approximately $9.3 billion annually. With Ohio business owners now able to focus their energy and resources on growth and success, rather than on the survival of their businesses after they die, we can expect them to invest more money in those 200,000 businesses, hire more workers, and increase purchases—all of which will help increase the tax base.Too much promise. How many of the top companies have already left. They have vested their money elsewhere, they couldn't return even if they wanted to and I doubt if the death tax was the only problem. The businessmen remaining in the state are probably doing all they can do, as is. And those who have thought about getting into the game have probably been discouraged and would find it difficult to step up at this point in any case. Capital is at a premium, ignore how the Fed is dealing with interest rates as they are balking at reality and tilting into the wind, for their own gain and for political reasons (as if there is much difference these(?) days).
I just want them to be straight with people. I get it. Others understand. But the average Joe reads this is says, "Hey, all we have to do is this, and... nirvana!" Then he is told, well, we also have to do this other thing. And, again, he says, "Hey, all we have to do is this and that, and bingo!". Then he is told, well, no, we have to do this, that, and the other things. A little less enamored of it all, but still hopeful, he says, "Well, okay. So, we have some work before us, but, it is possible". Then he is told that now we have to wait for it, once all is done. Eventually poor old Joe simply thinks he has been had. Tell him that any one thing is merely a piece in a directional puzzle. That the puzzle then has to be given time to come together, for people to trust to utilize those pieces, and then hope. There is no cure for human fallibility and the depth of that we have used to put us in the economic situation we are in is profound. Time is as much a piece of the puzzle as anything. And, so far, we haven't even changed direction in the big picture, we aren't even slowing and can't for some time. Quit promising rainbows and pixie dust while Rome burns and you find a bucket of water, please. Thank you, The Management.
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