THE FORGOTTEN MAN
As soon as A observes which seems to him to be wrong, from which X is suffering, A talks it over with B and they propose to get a law passed to remedy the evil and help X. Their law always proposes to determine what C shall do for X or what A, B and C can do for X. I want to look up C to show you the manner of a man he is. I call him the Forgotten Man. Perhaps the appellation is not strictly correct. He is the man who is never thought of....He works, he votes, generally he prays - but he always pays...."
William Graham Sumner
Yale 1883
Uncertainties caused by ongoing regulatory changes and politically influenced stimulus spending have discouraged entrepreneurship and job creation, slowing recovery. Leadership in free trade has been undercut by “Buy American” provisions in stimulus legislation and failure to pursue previously agreed free trade agreements with Panama, Colombia, and South Korea. Tax rates are increasingly uncompetitive, and massive stimulus spending is creating unprecedented deficits. Bailouts of financial and automotive firms have generated concerns about property rights."
So what has Mexico done? The Index summarizes their tax policy; "The top income and corporate tax rates are 28 percent. A 17 percent flat-rate business tax (known as the IETU) operates as an alternative to the corporate income tax for some companies. Other taxes include a value-added tax (VAT) and a real estate transfer tax. In the most recent year, overall tax revenue as a percentage of GDP was 9.0 percent." Compare that to our top income and corporate tax rates at 35 percent.