senseamp
Lifer
- Feb 5, 2006
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Originally posted by: Dissipate
Originally posted by: senseamp
You aren't seriously using UAE as your example? The only reason they are able to do it with low taxes is their oil revenue. They are simply taxing energy consumers in other states instead of their population. Look around your house. See anything made in or designed in UAE? Didn't think so. Show me a state that is not running huge natural resource trade surpluses where your utopian model is working.
Wow, and people tell me I haven't done my homework!
Revenues from petroleum and natural gas contribute less than 6% (2006)[6] of Dubai's US$ 37 billion economy (2005).[7] A majority of the emirate's revenues are from the Jebel Ali free zone authority (JAFZA)[8] and, increasingly, from tourism and other service businesses. As of 2007, 800 new residents were setting up home in Dubai every day.[9]
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Wow, 800 new residents setting up shop in a 'brutal' capitalist state every day!
Why does a place have to actually make things to be wealthy? It's called providing services. Even more evidence of your ignorance of economics.
So your plan is to have 6% of US income from oil and make every city and town a tourist destination or trade hub? Lay off the crack pipe, dude.