Professor Elam

A Cato Institute writer questions the wisdom of the proposed tax policies of the new administration.

The story of the golden goose is hardly new. Even Nancy Pelosi realizes that Silicon Valley is a Golden Goose, as does Barbara Boxer. But penalizing partnerships for accumulating wealth coupled with the ever increasing taxes of the Golden State, may see more firms packig off to say, Nevada or Texas.

Tax Policy matters. Government does not produce or create jobs, it only moves the money around the same game board. Arguably the Far East produces the hardware as it has morphed from VCRs to iPods. But we produce the software be it movies or music. But wait, didn't Slumdog produced and made in India win the Academy Award this year?  My point is that the world is catching up, this is no time to punish the innovators.