I never thought I’d see the day where libertarians would complain about tax breaks for a company, yet here we are. All of a sudden, tax breaks are subsidies and are a clear indication that cronyism took place, and thus should be rejected.
Bob Murphy sums it up perfectly in this tweet:
And he’s right for calling out the absurdity of the libertarian outrage. Libertarians should be overjoyed at the thought of someone getting a tax break. I keep thinking back to the Ron Paul quip when asked what he thinks about half of the US population not paying taxes. His response? “Good. We’re halfway there.” Corporations shouldn’t be any different.
Is it lame that only one company is getting a tax break? Sure. But the response shouldn’t be to get angry at this corporation and at tax breaks, it should be fighting to get EVERY corporation this tax break. 1 down, many many more to go.
Tax breaks and loopholes are awesome! We need more! As Mises said: “Capitalism breathes through loopholes.” Here is Rothbard’s column “Long Live the Loophole.”
Thankfully, the Mises Institute exists to be the one voice of reason in this world where “libertarians” hate tax breaks.