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Weekend Thoughts on Cantor, Tea Party, VAT and Flat Tax

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John Daly

John Daly

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There are a lot of things happening on the domestic political and economic scene.  Eric Cantor loses.  A report shows that most companies are fudging on their books.  The Tea Party didn't use any corporate money.  Maybe we need a VAT or a flat tax or both.Granted there are other factors involved: one would be a smaller turn out; two would be canters bad campaign; and three would be Democrats and independents voting for drab. We don't know the full answer yet. But one thing is clear is that a group of people, voters, took things into their own hands. They are upset with establishment people controlling our country. This is a good sign. However it also shows how difficult it is to govern in the 21st-century. Moises Naim's book the end of power shows this beautifully. There are so many factions that are out there that have the ability to communicate through the Internet and other new media that there are a cacophony of ideas and bad ideas that are floating around out there. So finding a majority will be very difficult. However I think those tea party voters in Virginia got it right. Look at the most recent study that just came out today. It shows how so many corporations are avoiding taxes. A survey of most corporations not only here in United States but also internationally show that they all have losses on their accounting sheets. Why? they're hiding money and they're hiding profits. Why? They don't want to pay taxes. I have been advocating a value added tax and or a flat tax. Let's start paying into the government services that we need right away

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