14 March 2013 - FATCAT 2

A simple variation of the corporate asset tax encourages innovation and economic growth: Instead of taxing a company on its current assets, tax it on its assets of (say) two years ago. Then new companies enjoy a grace period and rapidly growing companies feel a tailwind, while the square-riggers, tacking against the wind, are encouraged to jump ship and row for the beach. This is such a logical idea that I’m sure nobody has had it before.