Wednesday, April 21, 2010

Michigan miracle: Proof tax cuts work

This article by Wayne Allyn Root uses the tax cuts in Michagan to show how tax cuts work. He says that
Over the years I've come to realize that the Mafia offers a far better deal than the IRS. Let's look at the facts.

The mob comes to a businessman (like me) and demands 10 percent for "protection." The rub, of course, is that the protection is from them. The government calls that extortion and will send a mobster to prison for 20 long years on that charge. Yet the same government comes to that same businessman, demands a 50 percent (or more) cut of his business, and offers no protection whatsoever.

I prefer the deal offered by the Mafia.
Then later, he says,
Last year, 87 films were made in Michigan -- a 900 percent increase from the year before. Three major movie studios are opening this year in Michigan. Yes, the tax rebates cost Michigan $40 million, but those same tax rebates produced 7,000 new jobs and $325 million in new revenues for the Michigan economy.

Now that's a great economic success story.

Michigan is Exhibit A for proving that allowing taxpayers to keep more of their own money works like magic. Even amidst the worst economy in America, a tax incentive has persuaded Hollywood hypocrites to relocate from sunny Southern California to depressing and freezing Michigan. Can you imagine what a dramatic tax cut would do for the entire American economy?

I believe that we need to eliminate business red tape, we need to reduce business restrictions, and we need to reduce business taxes. We need to encourage businesses to move to Nevada to stimulate the economy and create jobs.

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