I agree. The drive for a better life, which is bought with money, which is provided by profits, is what makes entrepreneurs be entrepreneurs. I fully support the idea that having a great product or service, along with a sound business plan, should make the creator wealthy. I then think they should pay taxes commensurate with their burden on infrastructure and the environment. My issue is with the insane demand for growth quarter-over-quarter. It is not sustainable and it causes companies to cheapen themselves in the name of more profits.
That kind of mindset is enabled by our low-tax no-regulation style of government. When our highest nominal tax rate was above 70% businesses responded not by pulling out but by playing the long game, reinvesting their profits instead of focusing on quarterly returns. Income disparity was much narrower while research and development were given a higher priority. But so long as we enable large returns in the short term, that kind of business thinking isn't going to come back.
We know how to fix this. We just lack the political will to make it happen.
I agree. The drive for a better life, which is bought with money, which is provided by profits, is what makes entrepreneurs be entrepreneurs. I fully support the idea that having a great product or service, along with a sound business plan, should make the creator wealthy. I then think they should pay taxes commensurate with their burden on infrastructure and the environment. My issue is with the insane demand for growth quarter-over-quarter. It is not sustainable and it causes companies to cheapen themselves in the name of more profits.
That kind of mindset is enabled by our low-tax no-regulation style of government. When our highest nominal tax rate was above 70% businesses responded not by pulling out but by playing the long game, reinvesting their profits instead of focusing on quarterly returns. Income disparity was much narrower while research and development were given a higher priority. But so long as we enable large returns in the short term, that kind of business thinking isn't going to come back.
We know how to fix this. We just lack the political will to make it happen.