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Sunday, July 18, 2010

Loopholes

In every piece of legislation or policy, there are those who find the ways to avoid the law or to avoid their responsibility because there are always loopholes. We pine over the high tax rates on the wealthy claiming it reduces our ability to grow, but the reality is that very few high tax rate Americans ever pay that rate. They find loopholes to avoid it. Therefore claims by politicians about choking growth by high tax rates are not really accurate. Businesses are regulated by government and there are screams about how socialism is afoot and business needs to be allowed to follow Adam Smith's notion of free markets and pursuit of profit, but often these reguations are avoided and ignored by the discovery of loopholes. It seems as if Government can never insure that its laws are followed. If simple Immigration laws that are on the books were to be honored by private businesses, we wouldn't even have a problem with illegals. They wouldn't be able to prove their legitimacy because businesses would be following the hiring requirements. Instead they find loopholes or just don't do it thus creating a greater problem. The point of this post is that we are already hearing about health insurance providers finding loopholes in the recently passed reform to reduce choice by offering cheap plans with tiny networks. This certainly was not the intent of the legislation and again we are seeing corporate greed take precedence over what is right. Instead of barking about big government, Americans should be demanding that legislation is followed or huge penalties will be levied. Our frustrations are misplaced. We need to begin to face the truth, that corporate greed is at the root of most of our problems. Blaming government is a copout. Where are you Americans for reason and truth?

1 comment:

  1. Wasn't it Warren Buffet who complained that he payed a lower percentage of his income to taxes than his secretary?

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