I am chatting the other day with a chap in the aftermath of the election and how he sees the implication of future tax increases on the country. He is a smart chap with an MBA from a fine school and he is a wizard businessman, but he is a liberal.

We get focused on the issue of corporate taxes and he says, “I get it that corporations really don’t pay those taxes.” He looks at me with his chin out like he is bluffing at Texas Hold ‘Em and thinks that makes him look confident.

I smile because it is a new thought he has never expressed before, so I say, “How so?” And he explains it thusly.

Continue reading →