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It seems that, on paper, we have the second highest rate in the world -- with the key words there being 'on paper'. So few companies actually pay that as to be laughable, of course. However, by the same token, we have less money as a % in corporate payments than at any time in recent history, and its only getting lower. This is based on BOTH the fact that we have so many tax loopholes, and are bleeding companies that can't find a way to GET tax loopholes. Too few taxes for those who can find the loopholes, too MANY taxes for those who can't. Neither wants to pay a sustainable wage of any kind, and they ALL bitch about unions.
Now, my uncle was a union worker for something like 40 years (I don't know the exact number, hence the 'something like') - until he retired. He has a SUBSTANTIALLY better mode of living than anyone else in my immediate family except for one other uncle, who is a on-site specialized corporate teacher (something about design mechanics, I don't get to see him often.). Neither of them are 'rich', but both are on the 'very comfortable' margin. So those are my 'credentials', I guess -- more like things to keep in mind to see where I'm coming from (and to help critique on things I'm not familiar with).
So it seems to me that a workable strategy would be this:
1. Lower our corporate federal income taxes to the LOWEST in the world of all countries that charge taxes -- from my reading, Ireland at 12.5% is the lowest. So a flat 10%. This provides IMMEDIATE incentive to bring jobs back to America.
2. Let states handle their own corporate taxes.
3. Remove ALL tax subsidies and loopholes. This is a 'flat tax' approach FOR CORPORATIONS ONLY. Once you apply it to people, it becomes highly regressive and therefore unacceptable. This is an immediate gain of 3% as a % of GDP to existing corporate gains, plus that gathered from 'returning' business. Any company with a US presence, or a US market, is susceptible to this tax.
4. Provide a business/government oversight board to all existing and proposed regulations. This is the tricky one, as its susceptible to corruption. Take every measure possible to prevent politicization and/or corruption, erring on the side of caution. This is meant to handle the 'onerous regulation' complaint of business, while assuring that PROPER regulation IS enforced.
5. Establish a limited Union presence. Many of the needs of the old unions are considered accepted practice today, and like it or not, unions have a history of being mob-rich environments. The new Unions will provide for fair arbitration, contract disputes, and pay scales. However, it is to be run as a non-profit venture (thereby eliminating much of the causation of corruption). The new Unions will also be responsible for Labor bookkeeping duties, including COL tracking, vacation tracking, sick days, and so forth. This removes a costly portion of business, and is directly funded with union dues that do not exceed the actual costs of the bookkeeping.
6. This is critical: Tie executive compensation DIRECTLY to the number of lost positions throughout the year. Note that this does not include firing a worker and replacing them with another (as in the case of incompetence and so forth) but actual positions lost to productivity gains. This provides a direct incentive to find new positions as old ones are no longer needed instead of 'padding the bottom line' with firings. Tie executive BONUSES to voluntary cross-training and furthering education to maintain a viable, intelligent, well-trained labor pool (coordinated with the Unions; this has the added benefit of management and union representatives working closely together instead of always being at odds and developing an us-vs-them attitude). Any purchases made SOLEY FOR THE BENEFIT OF CORPORATE EXPANSION THAT IS DONE TO MAINTAIN WORKFORCE NUMBERS, even if it is an expansion of the corporation itself, will be non-taxable purchases. We take the small hit on tax collected from the goods purchased in order to ensure a more steady revenue from workers' taxes over a longer period of time.
7. Industry lobbyists will be considered a part of the Union, and the bookkeeping will be handed to the Union. Outside lobbyists will be illegal. This ensures that Lobbyists carry both Labor AND Business concerns as part of their lobbying activities, or none at all. They may not earn more than the Union leaders to which they belong (to provide an incentive against graft).
8. Individual unions become the arbiters of Social Security and Medicare accounts for the people they represent, removing yet another onerous cost from government (although they, in aggregate, still use the SS and MC Trust Funds). The SS cap is lifted to $500,000, and anyone with a average 10-year income of 500,000 or more for each year is moved beyond the Social Security recipients list; instead, they may take half of their contribution and put it in the banking vehicle of their choice (the so-called privatization of SS, for the wealthy only, and only enough that it won't threaten the stability of the Trust Funds).
What do you think?
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