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Batty Ideas: Boiling Frogs and BATs

Courtesy of Mish

The widely believed boiling frog theory says if put a frog in boiling water it will jump out but if you slowly raise the temperature it will stay in until it dies.

The theory is wrong, frogs will not stay in water to be slowly boiled to death.

Nonetheless, the boil them slowly idea lingers on in many forms. For example, Rep. Kevin Brady Floats 5-Year Phase-In of Border Adjustment Tax.

The top House Republican tax legislator floated a five-year phase-in to his controversial “border adjustment” idea on Tuesday in a bid to blunt mounting opposition to the concept.

The phase-in offered by Rep. Kevin Brady (R., Texas) is a response to critics who worry about the disruption that border adjustment could cause for companies, supply chains and consumers. It is a sign that Mr. Brady continues to press ahead with border adjustment and refine details of that plan rather than drop the proposal as some Republicans are urging.

“This reflects really the input we’ve gotten, the feedback we’ve gotten,” Mr. Brady, the chairman of the House Ways and Means Committee, said at the annual meeting of The Wall Street Journal’s CFO Network. “A very gradual five-year phase in really resolves the major challenges.”

Mr. Brady also said his plan would include targeted rules for the financial services, insurance, communications and digital-services industries.

“It’s hard to determine where…the border begins in the cloud,” he said.

Boiling Frog Theory Meets Border Adjustment Tax

Brady proposes taking the BAT and boiling it slowly over five years. Supposedly, this will give the frogs enough time to see they aren’t being boiled.

The frogs of the world (importers like WalMart, Macy’s, Best Buy, and retailers in general) are just as opposed to being slowly boiled to death as they are to an immediate immersion.

The vultures (the exporters and multinational corporations) are in favor of hot water. It’s not that they want to dine on frogs specifically, rather, they simply do not give a damn about dead frogs if there is a benefit to them, consequences to the consumer be damned.

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