If only it were an April Fools’ Day prank. With Japan officially cutting its corporate tax rate as of today, America now has the highest rate among advanced economies. Even its effective tax rate is way above average despite the likes of General Electric spending billions to game the labyrinthine code. A smarter approach would be to substitute a business consumption tax.
President Barack Obama should get in a New York state of mind. Over the weekend, Andrew Cuomo, the Democratic governor of the Empire State, struck a deal to balance the budget without major tax increases – and five days ahead of deadline. It’s the latest example of how left-of-center politicians, often considered profligate, are better sometimes placed than conservatives to cut spending. Obama is missing a “Nixon to China” moment on dealing with America’s dangerous budget deficit. Consider the following:
Much more of this, please:
Six Sigma dates back to 1986, when a Motorola engineer created the methodology to boost productivity and quality with as few errors in production as possible — fewer than 3.4 defects for every 1 million attempts, to be exact. The result was data-driven program that systematically measures, defines and analyzes all aspects of a business. Its name derives from a statistical term that calculates how far a process deviates from perfection.
I partially agree with Philip Klein of the Washington Examiner:
As everybody who studies the federal budget knows, the true drivers of our long-term debt are entitlement programs. Under President Obama’s proposed budget, so-called “mandatory spending” on programs including Social Security, Medicare and Medicaid would approach $3.5 trillion by 2021, according to the Congressional Budget Office, representing roughly 60 percent of that year’s federal spending.
A charter school boss runs the numbers (via the WaPo):
At Harlem Success Academy Charter School, where we’ve gotten some of the best results in New York City, some classes are comparatively large because we believe our money is better spent elsewhere. In fifth grade, for example, every student gets a laptop and a Kindle with immediate access to an essentially unlimited supply of e-books. Every classroom has a Smart Board, a modern blackboard that is a touch-screen computer with high-speed Internet access. Every teacher has a laptop, video camera, access to a catalogue of lesson plans and videotaped lessons.
The White House perhaps rightly worries, via a Treasury blog posting, that a tax amnesty for U.S. companies repatriating profit might distract from broader reform. (House GOP Majority Leader Eric Cantor recently came out for the idea.) But its economic objection to the idea is confused.
Steve Kornacki of Slate makes the case:
Rand Paul was in South Carolina on Monday and will soon make appearances in Iowa and New Hampshire. On Monday he told reporters that “the only decision I’ve made is I won’t run against my dad. I want the Tea Party to have an influence over who the nominee is in 2012.” An unnamed “Paul family advisor” also told CBS News that “there’s better than a 50/50 chance that there will be a Paul in this race.”