Proposals for reform always make me wary. As I read JPMorgan-Chase CEO Jamie Dimon’s op-ed at USA Today on tax reform, I immediately read it closely to determine what he meant be “reform”. In essence his version of tax reform would have three objectives:
- Simplify reporting
- Bring corporate income taxes into line with those of other OECD countries
- Increase and/or broaden the Earned Income Tax Credit
I’m not opposed to any of those things. When I read statements like this:
This isn’t about helping companies like JPMorgan Chase. Yes, tax reform will help American companies become more competitive, but the real reason to do it is to increase jobs and increase wages.
they make me wary, too. Whenever somebody in Jamie Dimon’s position says “it’s not about helping my company” it’s about helping his company.
I am going to go way out on a limb here and predict that “tax reform” will be great for Trump and his family. It will be beautiful. The best. Anyway, I feel a little shaky making such a bold prediction.
Steve
Also, a little OT, but I keep forgetting to add this in the appropriate place. One thing I have seen really taking off in the medical field is non-compete clauses or restrictive covenants. They are getting broader and longer. In some area they are 5 years long ( woman I interviewed from Denver had a 5 year clause). The rules on these vary from state to state, so it may be an especially bad local phenomenon, but this article suggests it is a wider problem.
https://www.washingtonpost.com/news/wonk/wp/2017/07/26/bosses-want-capitalism-for-themselves-and-feudalism-for-their-workers/?deferJs=true&outputType=default-article&tid=hybrid_content_2_na&utm_term=.1f055c4d8078
Steve
Link to original article follows. Non-competes are illegal in California. Did not know that. Helps to explain Silicon Valley success I bet.
https://www.nytimes.com/2017/07/14/business/economy/boise-idaho-noncompete-law.html?_r=1
Steve
Yep. It’s the “De Havilland Law”.
If you can use slave labor to manufacture goods outside the US or import slave labor to do menial jobs, what is the problem with enslaving US workers?
I wonder how many of these non-compete slaves are free-traders and/or unlimited immigration supporters.