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Some tech execs seem happy with the idea of government-led "competitiveness initiatives."
Well, it is said that a goldfish has such limited short-term memory that every trip around the bowl is a new experience, and we have gone round this bowl many times.
For example, the government wants to foster savings for retirement, so, says Forbes (subscription required):
There are at least 11 different kinds of retirement accounts, with different rules for who's eligible, when you get phased out, when you can, can't or must roll something over, when you get docked for taking out too little and when you get smacked for taking out too much. . . . Those folks on Capitol Hill have a terrific sense of humor. Plus, of course, the whole non-system is designed to ensure that Wall Street gets to rake off an annual 2 or 3 percent of all these accounts in the form of management fees and churning expenses. (You didn't really think the investment bankers like high tax rates because they have a social conscience, did you?)
posted by James DeLong @ 9:50 AM | General
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