I’m no expert on international business.
But there seems to be an inherent illogical in the left’s approach to taxation and corporations.
“Big business does not paying its fair share!” “Income inequality!” “The wealth gap has grown massively!” “Occupy Wall Street!”
Crony capitalism is certainly a problem and oddly enough Donald Trump of all people rode the populist wave of discontent into the White House (his opponent, meanwhile, couldn’t seem to convince people that she wasn’t still in bed with America’s kleptocracy). As the WSJ pointed out the other day, Trump’s enemy is not globalism, but mercantilism in which corporations lobby government acquire subsidies, trigger bailouts, and increase regulations that only their army of lawyers can comply with and subsequently hamstring competitors (the little and middle guy), thereby increasing their coffers, and only then doling out the incidental sops to the rest of us.
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Marshalls. 125th and Malcolm X Blvd.
I drop by to get some athletic socks and then to browse the shirt aisle. An African man interrupts and asks the price of a shirt. I find the brand tag for him and it says $44. An irritated look crosses his face, “$44? Yeesh.” But then I remember to look at the tag inside the shirt and there we find Marshalls’ price: $14. His face brightens, “Ah, yes, much better.” He then decides to share, “Every week I buy one shirt and one pair of pants. No more than that. After several months, I will have a nice collection.” A disciplined fellow trying to make it in America. Bravo. He’s on the up and up. I wonder, though, about his ratio of pants to shirts.
Marshalls. East River Plaza. Between FDR drive and 119th and 116th.
Step up to the checkout with my purchase and pull out my Chase Freedom card. “Oh, a Chase Freedom card,” says the attendant. “Yeah,” I say, “they’re pretty nice.” “Oh,” she says, “I wanted one of those and applied for it but it was denied.” I raise an eyebrow and smile asking for an explanation (they’re not that hard to get). She laughs, “Oh I’ve maxed out all my other cards. My kids be like, ‘Mom, you can’t be doing that. They won’t give you another card.'” A bit less disciplined here. She’s on the down and down. Continue reading →