/dev/null Posted August 14, 2010 Posted August 14, 2010 http://www.nytimes.com/2010/08/14/business...14fed.html?_r=1
Magox Posted August 14, 2010 Posted August 14, 2010 http://www.nytimes.com/2010/08/14/business...14fed.html?_r=1 Santelli sort of has his view... It's so hard to tell, I really don't know how to feel about this. His argument is more from a psychological point of view and how it effects banks and consumers. To tell you the truth, I really don't believe there is much the Fed can do to stimulate the economy from this juncture. As I've noted before, this is a structural issue, that can only be solved through the private sector with a little help from the government by providing a business friendly atmosphere.... Â Nothing creates innovation and employment than allowing corporations to keep more of their profits. The U.S has the second highest corporate tax code in the world at 35%. Even after all the loopholes corporations still pay over 27% compared to the developed world average of 16%. It's time to bring down the corporate tax code, not that I believe that this would stimulate the economy in the short run, but over the medium to long term it definitely would. Â There are no quick fixes.
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