On Taxes and Manufacturing, Make the U.S. Simply the Best

By November 10, 2010Economy, General, Taxation

There was something familiar about a sentence in the co-chairmen’s draft recommendations to the National Commission on Fiscal Responsibility and Reform, the deficit reduction panel.

From page 7, “Our Guiding Principles and Values,” with the principle being “Reform and Simplify the Tax Code”:

• Broaden base, lower rates, and bring down the deficit.
Make America the best place to start and run a business and create jobs.
• Cap revenue at or below 21% of GDP.

Our emphasis.

From the National Association of Manufacturers “Manufacturing Strategy for Jobs and a Competitive America,” the introduction from NAM President John Engler, arguing for the setting of high goals:

• The United States will be the best country in the world to headquarter a company. We want companies to be based in the United States.
• The United States will be the best country in the world to innovate, performing the bulk of a company’s global research and development.
• The United States will be a great place to manufacture, both to meet the needs of the American market and serve as an export platform for the world.

Thanks to National Review Online for posting the chairmen’s report.

NRO’s The Corner blog has good commentary here, here and here. Also from NRO, the statement by GOP commission members members Rep. Dave Camp (R., Mich.), Rep. Paul Ryan (R., Wis.), and Rep. Jeb Hensarling (R., Texas):

We appreciate the leadership of Alan Simpson and Erskine Bowles on the Fiscal Commission, and their shared commitment to addressing our pressing fiscal challenges. This is a provocative proposal, and while we have concerns with some of their specifics, we commend the co-chairs for advancing the debate. We will continue to work toward solutions that help spur economic growth and restrain the explosive growth of government spending.

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