1 entry tagged monopolies. All writing.
SEPTEMBER 25, 2026 Ninety Percent of Nothing A tax idea keeps making the rounds: abolish federal and state income taxes for every US citizen, tax the profits of big public companies at 90% instead, keep taxing non-citizens, and break up monopolies in the process. It's easy to see why it appeals, since it hits a real nerve. I ran the arithmetic and followed what companies would actually do the morning after. The honest answer is that a 90% rate on corporate profit mostly teaches companies to stop reporting profit. After that I go through six alternatives that aim at the same targets, with what each one really costs.