Selling Panties And Fixing Economies
If you can buy the same product or service from two different suppliers, and one is cheaper than the other, which do you choose?
If you can set up a business in two different states, and one has tax rates and procedures which make it easier and cheaper to run your business, which do you choose?
Increasing business taxes and compliance costs in Australia or in the US (or anywhere else) means businesses will choose to do whatever they can somewhere else.
Punishing people and businesses which are successful (ie, they produce useful goods or services, employ people, make a profit, pay taxes) will encourage them to go away, taking jobs, production and tax revenue with them.
The key to renewing economies is not giving other people’s money away, but making it as easy as possible for businesses to employ people and make a profit.
It is a pretty simple lesson – one Sam Walton learned selling panties.