If you want to make finance a smaller part of our economy -- which, by the way, is the one essential step -- here's how to do it: Eliminate the tax deduction for interest expense from business income tax forms. This way, no business -- not even financial business -- gets to deduct interest expense.
It will have a much bigger effect on financial business than productive business.
so, i hate to hype my own crap, but oh well... http://www.interfluidity.com/posts/1200990211.shtml i agree! (at the time, i wasn't so concerned with shrinking finance, my rationale was different. but i certainly support that now.)
ReplyDeleteIt means a lot, Steve. Thanks.
ReplyDeleteSome good, quotable lines in that old post of yours.