Brexit and Armageddon lost

Brexit: Worst Case Scenario for EU; Armageddon Promise Now Visible as Pack of Lies | MishTalk

​More below.

Frankly, from a purely Best for Britain economic standpoint, Britain should not negotiate most of the points which are commonly discussed. Britain should simply eliminate all tariffs for all imported goods. It should create a work visa/green card system which is simple and easy to follow, and allows people from all over the world to come and work in Britain. Yes, it would still allow the government to vet the potential workers for other problems like criminality, but it would open Britain to more workers immediately.

Britain should also eliminate the corporate tax rate, not just lower it. The correct rate is zero, and always has been. If that is politically impossible, Mish is correct reduce the rate, but always the idea should be to end up at zero. (The real goal should be to move from income taxation to taxation of consumption.) The problem with taxing non human entities is that they cannot pay taxes, and so must transfer the tax to a human entity to pay. Commonly for corporations, this means either customers, or shareholders must pay. Most of this transfer ends up being an unseen cost driver for consumers. Because the poor spend so much of their income on necessities, this means that the corporate tax falls heavily on their shoulders. This is an inane policy. Eliminating the corporate tax, and then providing some modest assistance for the poor to reduce their consumption tax burden would eliminate the problem, or reduce it significantly. Or we can continue to charge the poor a hidden tax, because that is so progressive!?

This still leaves open the necessity of welfare reforms, income tax reforms, among other reforms for another day.

Readings on trade:

Foreign Subsidies Do Not Justify Protectionist Policies - Cafe Hayek

On Trade, Trump and Clinton Are Indistinguishable and Wrong

Trade tariffs are a horrible way to help US manufacturers

Dead Wrong with Johan Norberg - Deindustrialization

Work immigration:

Welfare, Corporate Welfare, and Immigration - Cafe Hayek

No Limit on Immigration - Cafe Hayek

http://www.aei.org/publication/whats-the-actual-impact-on-us-workers-of-low-skill-immigration-do-politicians-care/