Bill Frezza explains the difference between Crony Capitalists and Market Capitalists.
By setting nominal corporate tax rates high while marketing tax breaks to specific companies and industries, Congress assures itself a steady stream of campaign contributions from companies looking to lighten their tax load. While there is no shame in reducing one's tax burden from 35% to a more globally competitive 20%, is it any wonder that people get sore when some extremely profitable corporations manage to get their tax burden down to nearly 0%?
Market Capitalists do not go to Washington. They strive to please customers, not politicians.
Posted by: CaptDMO | December 12, 2011 at 11:32 PM