The Vote on the Tourist Tax

http://www.futureofcapitalism.com/2009/09/the-vote-on-the-tourist-tax

Here is the 79-19 roll call vote by which the Senate decided to impose a $10-a-tourist tax on foreign visitors to America (who can't vote against the Senators who are taxing them) and to use the money for an industry-run tourism advertising campaign. An earlier FutureOfCapitalism.com post about the issue is here; the Heritage Foundation blog calls it "The Mickey Mouse Bailout Act" and "another victory for corporatism over the free market and the American taxpayer." It's interesting that Heritage, a right-wing think tank, is now using "corporatism" to mean something bad. They sound like Ralph Nader. Or like the Wall Street Journal editorial page, which thundered this morning against "Big Pharma."

Not that all corporations are good or that they should call all the shots in Washington. But there's a risk that attacks on crony capitalism or on corporations subsidized by the government will end up souring Americans on firms that happen to be organized as corporations. Many of those corporations employ a lot of people, make useful products and pay taxes. Some of those corporations become profitable enough that they qualify as "big."

by Editor  |  Sep 10, 2009 at 1:48 pm Related Topics:  Taxes receive the latest by email: subscribe to the free futureofcapitalism.com mailing list