The Problem With Tax Incentives

Question: What's the problem with tax incentives?

Clifford Schorer: First of all, I'd like to see a lot of tax incentives eliminated because I think a lot of it's channeled to the wrong special interest groups and do very, very little to help small companies so that's a concern of mine, the oil companies getting breaks for thing, even tobacco farmers being subsidized. I think some of it is absurd. I'd love to see some of that money being channeled in to the entrepreneurial spirit that made this country great. I also think that we could solve a lot of major, major problems in this world by utilizing our government's ability to support things in a different manner. I'll give you an example. Let's say we — We're certainly having an energy crisis. Right. We're watching gasoline prices really impact the middle class and lower class in this country. It's devastating. I think a lot of people are actually charging on credit cards their gas and they're paying 18% interest and they're going to have a lot of problems. Why couldn't for example the United States government say, "Okay. Let's get our automobile manufacturers together. Let's calculate out things like if in three years no more than a four-cylinder engine could be used in any automobile," — calculate what it would cost in losses during that transition, put together a fund and say, "You know something? The government is going to create a research fund to help build more efficient automobiles and we'll supplement you and stabilize you during that period by giving you money to invest in technologies." Something like that to me would be addressing incentives, using government dollars towards improving the overall economy, but we don't seem to think that way and that troubles me.

Recorded on: 5/13/08

Cliff Schorer says tax incentives to special interests should be eliminated.

Related Articles

Why Japan's hikikomori isolate themselves from others for years

These modern-day hermits can sometimes spend decades without ever leaving their apartments.

700,000 Japanese people are thought to be hikikomori, modern-day hermits who never leave their apartments (BEHROUZ MEHRI/AFP/Getty Images).
Mind & Brain
  • A hikikomori is a type of person in Japan who locks themselves away in their bedrooms, sometimes for years.
  • This is a relatively new phenomenon in Japan, likely due to rigid social customs and high expectations for academic and business success.
  • Many believe hikikomori to be a result of how Japan interprets and handles mental health issues.
Keep reading Show less

Scientists discover what caused the worst mass extinction ever

How a cataclysm worse than what killed the dinosaurs destroyed 90 percent of all life on Earth.

Credit: Ron Miller
Surprising Science

While the demise of the dinosaurs gets more attention as far as mass extinctions go, an even more disastrous event called "the Great Dying” or the “End-Permian Extinction” happened on Earth prior to that. Now scientists discovered how this cataclysm, which took place about 250 million years ago, managed to kill off more than 90 percent of all life on the planet.

Keep reading Show less

Why we're so self-critical of ourselves after meeting someone new

A new study discovers the “liking gap” — the difference between how we view others we’re meeting for the first time, and the way we think they’re seeing us.

New acquaintances probably like you more than you think. (Photo by Simone Joyner/Getty Images)
Surprising Science

We tend to be defensive socially. When we meet new people, we’re often concerned with how we’re coming off. Our anxiety causes us to be so concerned with the impression we’re creating that we fail to notice that the same is true of the other person as well. A new study led by Erica J. Boothby, published on September 5 in Psychological Science, reveals how people tend to like us more in first encounters than we’d ever suspect.

Keep reading Show less