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.

The 10 most influential women in tech right now

These thought leaders, founders, and entrepreneurs are propelling the kind of future we want to be a part of.

Credit: Flickr, The Wall Street Journal, TechCrunch
Technology & Innovation
  • The tech industry may be dominated by men in terms of numbers, but there are lots of brilliant women in leadership positions that are changing the landscape.
  • The women on this list are founders of companies dedicated to teaching girls to code, innovators in the fields of AI, VR, and machine learning, leading tech writers and podcasters, and CEOs of companies like YouTube and Project Include.
  • This list is by no means all-encompassing. There are many more influential women in tech that you should seek out and follow.

Keep reading Show less

Teen popularity linked to increased depression in adolescence, decreased depression in adulthood

The results of this study showed depressive symptoms being highest in adolescence, declining in early adulthood and then climbing back up again into one's early 30s.

Credit: Dragana Gordic on Shutterstock
Mind & Brain
  • A 2020 Michigan State University study examined the link between teen social networks and the levels of depression later in life.
  • This study used data from the National Longitudinal Study of Adolescent to Adult Health, specifically targeting social network data. The results showed depressive symptoms being highest in adolescence and declining in early adulthood, then climbing back up again into one's early 30s.
  • There are several ways you can attempt to stay active and socially connected while battling depression, according to experts.
Keep reading Show less

90,000-year-old human hybrid found in ancient cave

Researchers have just discovered the remains of a hybrid human.

Researchers in a chamber of the Denisova cave in Siberia, where the fossil of a Denisova 11 was discovered. CreditIAET SB RAS, Sergei Zelensky
Surprising Science

90,000 years ago, a young girl lived in a cave in the Altai mountains in southern Siberia. Her life was short; she died in her early teens, but she stands at a unique point in human evolution. She is the first known hybrid of two different kinds of ancient humans: the Neanderthals and the Denisovans.

Keep reading Show less

In quantum entanglement first, scientists link distant large objects

Physicists create quantum entanglement, making two distant objects behave as one.

Credit: Niels Bohr Institute
Surprising Science
  • Researchers accomplished quantum entanglement between a mechanical oscillator and a cloud of atoms.
  • The feat promises application in quantum communication and quantum sensors.
  • Quantum entanglement involves linking two objects, making them behave as one at a distance.
  • Keep reading Show less