Quote of the morning: bright minds in the tax labyrinth
"So many of the best minds of my generation spend way too much time thinking about the US tax code.We've taken a couple of words out of the middle of that for the sake of elegance, but it's a completely accurate reflection.
. . .
The code runs for millions of words and for many of our best and brightest it has become a labyrinth. Their lives are spent inside it, routeing offshore cash flows or structuring financial products to lower tax rates."
It is just not healthy for so many Americans to spend so much of their lives being so furtive, he says, But more importantly, what is happening is a giant brain drain from the productive economy into the destructive economy. And it's a global phenomenon.