Forbes sees blockages to stronger economic recovery

In his Tuesday keynote address, Steve Forbes, chairman and editor-in-chief of Forbes Media, called for removal of long-term structural blockages on U.S. economic recovery, while noting that Republican leaders in Congress are wise in taking smaller tactical steps rather than repeating big showdowns.

By ·

In his Tuesday keynote address, Steve Forbes, chairman and editor-in-chief of Forbes Media, called for removal of long-term structural blockages on U.S. economic recovery, while noting that Republican leaders in Congress are wise in taking smaller tactical steps rather than repeating big showdowns.

Forbes, a former presidential candidate and author, repeated his long-held belief in the benefits of a flat tax, stating his belief that for businesses, a 17% flat tax would work. He also called a return to the gold standard for monetary policy and setting the value of the U.S. dollar. The current tax code, he said, if far too complex.

“This tax code is beyond redemption,” he said. “The only thing you can do with this beast is kill it.”

Forbes said Republicans should avoid big showdowns in Congress that are likely to fail, and focus on smaller adjustments, such as forcing the Senate to set s budget as part of any debt ceiling extension deal, or not allowing Medicare funding to be used to help fund the Patient Protection and Affordable Healthcare Act.

Forbes said such steps might seem small, but will help educate the public while paving the way for larger reforms.


Subscribe to Modern Materials Handling Magazine!

Subscribe today. It's FREE!
Find out what the world’s most innovative companies are doing to improve productivity in their plants and distribution centers.
Start your FREE subscription today!

Article Topics

Economy · ProMat · · All Topics
Latest Whitepaper
What Costs Less? Doing Nothing or Automating Your DC?
Obsolete warehouse hardware and software cannot keep up with increasingly complex fulfillment requirements, especially for multi-channel retailers.
Download Today!
From the August 2016 Issue
Subscribe to Our Email Newsletter
Sign up today to receive our FREE, weekly email newsletter!
Latest Webcast
5 Emerging Technologies Enabling Competitive Advantage for Distribution
Come hear about the latest in each-picking robotics, co-bots, artificial intelligence, autonomous vehicles, sensors, drones and droids that are enabling competitive advantage for distribution.
Register Today!
EDITORS' PICKS
The data-driven lift truck
Now that manufacturers and distributors are using the data from their automated systems to drive...
Destination Maternity: Destination Automation
Running short of space in its old facility, Destination Maternity Corp. built a new, highly...

Hibbett Sports: Faster, Flexible and Efficient
A high-speed conveyor and sortation system at Hibbett Sports’ Alabama distribution center speeds...
Necessity is the mother of invention at Quiet Logistics
Faced with the loss of a robotic pick solution, Quiet Logistics invented its own robots. Are they...