The New York Times, Runner’s World, and a host of other media outlets recently hyped a new study published in Progress in Cardiovascular Diseases on the benefits of running. The study asserts that running, if performed regularly, leads to 3.2 additional years of life.
“Well, the corporate tax is probably the most distortionary and harmful tax in the whole system. It raises about 10 percent of the revenues that are collected come from the corporate tax. As we just heard, it’s the highest in the — one of the highest in the world. It not only hurts businesses and their profits, but it hurts workers, the people who work at those companies.”
With tax reform hopefully next on the GOP’s agenda, it is important for lawmakers to think about its revenue effects in a sensible way: focus on the long-run budget impact, not the 10-year horizon embedded in congressional rules.
“The fundamental idea is that owners of capital are going to put that capital at risk for an investment, and they’re going to be asking the question, “What rate of return am I going to get on that investment after I pay taxes?” They’re not curious what their pre-tax rate of return is. They’re curious about their after-tax rate of return.”
While the UK is generally regarded as having a larger military and is certainly understood to have a larger economy from which to finance its military, its advantage on at least some common sense metrics is modest and its demands greater; the UK has more geopolitical interests around the globe to defend. Spain, on the other hand, while somewhat less equipped would have a proximity advantage in any armed conflict over Gibraltar. In short, the winner from such a hypothetical encounter is far from obvious to a casual observer.
