The Common Truth

For more than 30 years it has been taught, been widely believed, that taxes stop innovation. It is common, even among those without the fundamental training that business tax must be low for there to be growth. Judges think this. Cab drivers will regurgitate this fact during the ride from the airport to the stock exchange.

see Daniel N. Shaviro for only one such source.

Two Types Of People

There are two categories of business entity, those that are created “for profit” and those that are formed as being “non-profit”. What this means in the light of April’s reality check, is that some businesses pay taxes and some do not pay tax. Non-profit actually means “non taxed”. Actually it means a tax dedcution in addition to any other tax deductions that any legal entity may have.

What We Have Here

The dataset of innovation should therefore be full of innovators within the non-profit sector. I expect to find all the best work being done by those people at the non-profits throughout america. We should see a rush to the hiring halls of non-profit america. I expect that you too will recognize this and submit your resume to your nearest non-profit so that you can participate in america’s next great innovation machine.

Welcome the generation of non-profits. Tax exempt innovators of the world. You are Reagan’s Reality. His light on the hill.