Richardcyoung.com

  • Home
  • Debbie Young
  • Jimmy Buffett
  • Key West
  • Your Survival Guy
  • How We Are Different
  • Paris
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • The Swiss Way
  • My Rifles
  • Dividends and Compounding
  • Your Security
  • Dick Young
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Bank Credit & Money
  • Your Survival Guy’s Super States
  • NNT & Cholesterol
  • Your Health
  • Ron Paul
  • US Treasury Yield Curve: My Favorite Investor Tool
  • Anti-Gun Control
  • Anti-Digital Currency
  • Joel Salatin & Alfie Oakes
  • World Gold Mine Production
  • Fidelity & Wellington Since 1971
  • Hillsdale College
  • Babson College
  • Contact Us

10% Flat Tax

May 14, 2014 By Richard C. Young

DickPat Buchanan makes an interesting point here in which he suggests dumping the corporate tax with a 10% tax on imports. An easy sell to Americans might instead be a flat 10% tax on corporations, individuals and final sales. All Americans would contribute to the defense (not offense) of our country and the infrastructure we all use. The corporate tax rate would put America on the most competitive list. Finally at 10% sales tax is not going to prevent Americans from buying what they need. And food and prescription drugs might be good candidates for exception.The stock market would soar, new jobs would be plentiful with all the money corporate America would save, and April tax misery would be gone forever as only short forms would be required. All in all, fair, sensible and productive for all Americans.

News that Pfizer, the world’s largest pharmaceutical company, plans to buy Britain’s AstraZeneca for $106 billion, renounce its U.S. citizenship, and declare itself a British company, has jolted Congress.

Pfizer is being denounced as disloyal to the land of its birth, and politicians are devising ways to stop Pfizer from departing.

Yet Pfizer is not alone. Hedge fund managers are urging giant corporations like Walgreens to go nation-shopping for new residences abroad to evade the 35 percent U.S. corporate income tax.

Britain’s corporate income tax is 20 percent, and Pfizer stands to save over $1 billion a year by moving there.

In what are called “inversions,” dozens of U.S. companies have bought up foreign rivals, and then moved abroad to countries with lower tax rates, cutting revenue to the U.S. Treasury.

But Pfizer is far and away the biggest.

The real question, however, is not why companies are fleeing the USA, but why our politicians continue to drive them out of the country.

Consider. Here in America we do not tax charities, churches or colleges. Yet these institutions produce a fraction of the jobs that businesses produce.

If, as a nation, we are committed to “creating jobs,” does it make sense to impose the highest corporate tax rate in the Western world on our biggest and best job creators?

Is this not economic masochism?

If you’re willing to fight for Main Street America, click here to sign up for my free weekly email.

Related Posts

  • The Flat Tax Answer
  • VIDEO: Flat Tax vs. National Sales Tax
  • This Is What Is Better About a Flat Tax
  • Author
  • Recent Posts
Richard C. Young
Richard C. Young
Richard C. Young is the editor of Young's World Money Forecast, and a contributing editor to both Richardcyoung.com and Youngresearch.com.
Richard C. Young
Latest posts by Richard C. Young (see all)
  • Would the Pat Buchanan Plan Work Today? - July 9, 2025
  • How Healthy Are Eggs? - July 8, 2025
  • HUD: The Damage Caused by Federal Housing Intervention - July 8, 2025

Dick Young’s Must Reads

  • What a Way to Make a Living: New Hampshire #1
  • “It’s My Job” Key West’s Farewell to Jimmy Buffett
  • Being Fully American Means Americans First
  • The County Sheriff: America’s Last Hope
  • Interest Rates Your Dad Would Be Proud Of
  • Uniparty Republicans “Wriggling Like Worms on Hooks”
  • My Key West Garden Office
  • Are You Guided by the Prudent Man?
  • Could Nature’s Pharmacy Hold the Key to Cancer Recovery?
  • The Armed American Family: Part I

Compensation was paid to utilize rankings. Click here to read full disclosure.

RSS Youngresearch.com

  • Your Survival Guy: “You Wouldn’t Have Liked It”
  • DOE Unveils Plan to Quadruple U.S. Nuclear Power by 2050
  • How China Weaponized Rare Earths to Shift U.S. Trade Policy
  • Trump Administration Moves to Curb Foreign Ownership of U.S. Farmland
  • We Finally Got on the Boat
  • Trump Flexes Tariff Power Ahead of August 1 Deadline
  • America Remained a Net Energy Exporter as Domestic Output Soars
  • Copper Prices Surge as Global Supplies Tighten
  • Happy Independence Day!
  • Survival Guy: An All-Weather Balanced Portfolio

RSS Yoursurvivalguy.com

  • Your Survival Guy: “You Wouldn’t Have Liked It”
  • ESG Doesn’t Stand Up to Scrutiny
  • How to Dock a Boat with Helm Master EX
  • We Finally Got on the Boat
  • The Big Beautiful Bill: Good, Bad, and Ugly
  • WARNING: Your Survival Guy and Gal in the Fog
  • Happy Independence Day!
  • Survival Guy: An All-Weather Balanced Portfolio
  • A Bazooka Fired at Private Equity
  • NYC, Crypto, ESG, the Haves and the Have-Yachts

US Treasury Yield Curve: My Favorite Investor Tool

My Key West Garden Office

Your Retirement Life: Traveling the Efficient Frontier

Live a Long Life

Your Survival Guy’s Mt. Rushmore of Investing Legends

“Then One Day the Grandfather was Gone”

Copyright © 2025 | Terms & Conditions | About Us | Dick Young | Archives