Doing the same for an energy project that might actually pay back (unlike the covid losses) is far less disruptive.
Finally, the amount of money hidden away in tax havens by the rich is nothing compared to this. Don’t drag down something as important as the climate crisis with some smooth brained class warfare.
The difference being that most of that money ended up in rich people’s pockets, and are now causing a global economic crisis.
Something mitigating an ongoing can be expensive, have the intended positive effect immediately, but not be paid back for a long time (or sometimes ever).
Federally subsidized flood insurance is a much smaller scale example. There are many places in Florida and the gulf in general where houses get destroyed by hurricanes and have to be rebuild for $X every 20 years when we only collect maybe 25% of $X in premiums.
Try to tax it away and use it for something that would benefit everyone and suddenly it becomes a lot less abstract to him.
Whenever I see something mechanical made of bronze or something it always looks like a real waste. New finishes and coatings look pretty good and composites are strong and corrosion resistant, and steel is cheaper.
Not everything can be replaced but some can.
Reagan's achievement was to eliminate tax shelters in exchange for lower tax rates. This pulled the investment out of those unproductive shelters into productive activities, leading to the prosperity of the 80s.
That said, the link between presidential policy & short term economic changes is universally overstated. The government can cut down basic research funding and the effects won't be felt for a half century.
That can't help but produce positive economic changes.
Many of our current problems can be traced back to changes which occurred in the 70s and 80s.
Yes, prosperity on GDP numbers, blessed be Its name. Unfortunately not everything is reduced to making line go up.
I'm amused you're blaming 2008 on Reagan.
Citation needed. Show me data that demonstrates that use of tax havens is correlated to tax rates. The data over the last 30-40 years at least at first glance seems to disagree. Tax rates (in particular top income bracket, capital gains and corporate taxes) have continously reduced, while the amount of money in tax havens has increased.
I support tax cuts being tightly coupled with much reduced tax avoidance. Retroactively.
