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Mail Magazine 24...
Obama wants a tax
fight
by Michael Becker
So CBS is reporting that the President wants a fight over taxes in the
upcoming election and he’s proposing a new corporate tax scheme that
will supposedly lower the rate to 28% and close some “loopholes”. Ummm
hmmm. The devil, as always with things from Washington, will be found
in the details. Remember Nancy Pelosi telling us that “Healthcare
Reform needed to be passed so we could find out what was in it”? And
when we found out, well gosh, we didn’t like it. Last polling shows 53%
of Americans want ObamaCare repealed.
So he now wants to “fix” taxes. I’m waiting to see the plan before I
comment in any detail, but I am sharpening a stake and I bought a new
wooden mallet just to be prepared.
There are really two problems with discussing taxation. The first is
that the Administration refuses to put forth a comprehensive proposal
that can be fully evaluated. They simply nibble at the edges. We’ll get
this “corporate” plan, then there’s the “tax the rich” scheme that’s
built into his political budget proposal and then there’s the
expiration of the evil Bush tax cuts that will raise everybody’s taxes.
Well, that would be everybody but the 47% or so who don’t pay taxes.
The second problem is that the Republican Party won’t likely get behind
any sort of competing proposal because they’re totally gutless and in
desperate need of a spine.
Tell you what. Just for grins, here’s a tax plan for you.
Everybody with income – EVERYBODY – pays some tax. Everyone has to have
skin in the game, they don’t now and that’s the primary reason half the
nation wants government to continue to grow.
Flat tax on all income, absolutely no deductions, exemptions or offsets.
You pay 8% on the first $40K.
You pay 15% on the next $75K.
You pay 22% over that.
Corporate tax is zero. Corporations do not pay taxes, their customers
do.
Death tax is zero.
Capital gains are ordinary income.
You file on a post card, tax compliance cost goes to zero, from an
estimated $430+ billion dollars. Make it simple, everybody pays,
compliance goes up, cost of compliance drops to near zero, everybody
has a stake in what the government spends. It’s F.A.I.R.
But, of course a plan like that would take both vision and courage.
Source: libertynews
Read this and other articles at Mail Magazine 24
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