I did work harder, and perhaps more imaginatively, than many colleagues. But does that mean I built it myself? Does it diminish my success to be grateful for the public investments that so clearly contributed to my success? Every successful person knows, and will admit if he is honest, that luck played a role in his good fortune.
The countries that spend the least on government as a percentage of their economy (gross domestic product) are countries with little business success. Haiti, Bangladesh and Afghanistan spend 16, 13 and 9 percent of their GDP, respectively. Our federal government has spent around 20 percent of GDP since World War II. Europe typically spends slightly over 50 percent, so we’re a long way off even after factoring in an additional 15 percent for state and local government spending…
Last year I paid 22.6 percent in federal taxes after all the special deductions afforded me. That’s a pretty darn low effective rate by historical standards, and it’s low for all I receive from this country. My business depends on a country that continues to make savvy investments in its infrastructure, in its oversight of industry and in its people. Those public investments are instrumental to private market growth.
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