“Remove all the deductions and exemptions, and you’d be able to reduce top tax rates, reverse the impact of the sequester, or draw down the deficit—all at once. You’d also considerably reduce the angst of tax day for millions of Americans and even allow for a downsizing of the IRS and the tax industry itself. On April 15, surely that should be an idea with immense political appeal.” —The Economic Case Against Tax Deductions - Businessweek (via felixsalmon)
Until H&R Block and TurboTax crank up their lobbying…
“A Silicon Valley company, Blueseed, has proposed a novel way to skirt U.S. immigration laws: It is trying to create a tech hub on a leased cruise ship in international waters 12 miles off the California coast. Entrepreneurs could run their start-ups there with no need for a visa, and ferry to Silicon Valley on visitor visas to meet with investors or clients.” —
Somehow this is preferable to letting people come to the US and start firms? Hokay.
“At a time when the modern economy is becoming increasingly institutions-intensive, the reduction of economics to price theory is troubling enough. It is suicidal for the field to slide into a hard science of choice, ignoring the influences of society, history, culture, and politics on the working of the economy.” —Coase