CNN's Zakaria: Tax Cuts Are "Bad Stuff"--My "Innovation Tax" Is Excellent

[hayden50]

Mr Fakaria is a socialist prick.

[hellsunicorn]

Where does Dakaria think all of that innovation actually comes from? I'll give you a hint, it wasn't the government that he's calling on to build all of these new research plants. This guy's dimwitted ideas are far from merely a testimony of not being the brightest bulb on the block, but being a cracked open, burnt out one, sizzling in it's socket.

[eldiablo10028]

@hellsunicorn Innovation comes from both govt and private sources. Govt funds so many research projects in the sciences, and the collaboration with private industry leads to a unique marriage that allows for ideas to develop. For instance, technology such as the computer and the internet were govt projects that have been utilized extensively by private industry, whereas the transistor was created by private industry. Zakaria is saying that since we are not going to manufacturing

contd

[eldiablo10028]

@hellsunicorn jobs back, we are going to reinvent the way we create wealth. We have an built-in upper hand science, technology, R&D based industries as well as white collar services industry, so in order to be competitive with the rest of the world, Zakaria is proposing on realigning this marriage of govt and industry to sustain economic growth. The tax would pay for that, and would be alleviated by reducing the income tax and/or spending. This way, the US finds its economic "niche".

[hellsunicorn]

@eldiablo10028 I'm going to answer this with another question. Where does government get its wealth for funding these projects? Answer, "The Private Sector".

Government doesn't create anything, it simply destroys, taxes, or moves things around. It may have stumbled upon the computer through the economic tyranny developed by FDR, but I guarantee you that it had little to do with making it palpable to individual private use.

Sorry, epic economic fail here.

[eldiablo10028]

@hellsunicorn You are correct...govt DOES get this wealth from private sector. But in many cases this wealth is a good investment, as the govt can provide funds to produce human capital to sustain private sector growth. Think of it this way; a college student takes out a loan to pay for college. He/she is initially in debt, but through newly acquired talent, the student graduates, pays of the debt, and makes more money if he/she hadnt gone to college (in most cases). In thise case

contd

[eldiablo10028]

@hellsunicorn contd

the govt is the bank providing the loan, the student is "the private sector", and the loan repayment is akin to taxes. The student making higher pay illustrates growth in wealth of private industry. Mind you, this is a very simple example, and doesn't consider some of the nuances, but it presents the right idea. I agree that govt can be a hindrance, but it doesn't have to be. A partnership of govt and industry in a capitalist system can yield very positive results.

[BrainDeadRepublican]

I am shocked, shocked I say, to see an ObamanableBot at CNN.

[cflancop]

Oh yeah, taxing Americans more is a good idea. Sure, jobs are being lost and businesses are setting up outside the the United States because of high taxes, so the answer is very simple? That's right, even higher taxes... Urgh...

Obviously Fareed Zakaria isn't the brightest bulb in the box, so instead of listening to him, why not cut taxes? Couldn't hurt at this point, not with the damage that has been done listening to twits like Zakaria... Pathetic...