Archive for April, 2008

TN Bill SB 3886

Friday, April 25th, 2008

As expected, SB 3886 seems to have no chance of passing in Tennessee.  This bill would have required a PPO to hold a direct contract with the medical provider and would not allow for group health PPO contracts to be used for Workers’ Compensation.  Supporters of this bill will most likely bring it up again in 2009.

McCain and Tax Cutting

Thursday, April 17th, 2008

John McCain has a bright idea. He wants to cut taxes for business and for consumers. First, he wants to cut business corporate tax from 35% to 25%. As a business owner, it is very clear that I can hire more people if my tax burden is lower. For the non business owner, this may not make sense, but I truly would increase my hiring with a lower tax burden. So, what is the benefit of me hiring more people? well, it means that more taxes will go into the treasury of the United States. Every time it is tried, the lower the taxes, the more money is collected by the government in income taxes. More recently, John Kennedy, Ronald Reagan, and George Bush (43) have cut taxes with increased tax collection.

McCain also wants to cut taxes on gasoline. I see how this could be a problem as this money is earmarked for highway projects, but I think in the end we all win with lower taxes. The money is available, it is instead a matter of how we spend our tax dollars.

USA Todays opinion page today can only focus on how much tax revenue the country would loose if taxes were to be cut. These are the same ideas that will make this country not be competitive with the world. Our corporate tax rate is too high, and we must compete with the world. Lowering taxes unleashes the minds of American business and take away the burdens of doing business. Our mess during the Jimmy Carter years was only resolved by supply side economics. It works, and we all need to revisit why Ronald Reagan was the man for his day. Is John McCain that man for us now? I don’t know, but I do know that his rivals are tax and spend politicians.