These two authors of the recent article on the economy in Foreign Affairs magazine suffer from a complete disconnect from the real world.
More and more Americans are working part-time, including many who desire a full-time jobs. But ignoring the difference between part-time and full-time employment, the administrations is boasting about businesses hiring at historic rates.
Representative David Jolly (R-Fla.) has proposed an “Alternative Maximum Tax” limiting any non-corporate taxpayer’s total tax payment — including federal, state, and local taxes — to 50 percent of adjusted gross income. But why not establish a 5 percent “Alternative Maximum Tax,” until such time as the income tax is abolished entirely?