GOVEROTRAGEOUS: Zero the corporate tax rate

Wednesday, September 17, 2014

https://secure.downsizedc.org/blog/your-penny-toward-a-whopper

September 11, 2014
Your Penny Toward a Whopper
By James Wilson

*** begin quote ***

I’m angered that Burger King has fled to Canada as a tax shelter. But I’m not angered at Burger King, which has only done what it thinks is best for its shareholders. I am, rather, angered at YOU. It isn’t Burger King that created the HIGHEST CORPORATE INCOME TAX in the world. YOU did that. And I DO NOT CONSENT!

*** end quote ***

 

“Corporations are merely tax collectors; not taxpayers. They merely pass their costs along.” Lawrence Alan “Larry” Kudlow is an American economist, television personality, and newspaper columnist. August 26, 2014 0830 on WMAL Mornings on the Mall Brian Wilson and Larry O’Connor

Essentially, taxing corporations hides the tax load on individuals. That’s one of the purposes of Big Gooferment is conceal how much tax we individuals are really paying. IF we knew, then the tax revolts would really start.

Add to that, the OTHER taxes that corporations pay (e.g., gas; utility; FICA for employees; “real estate”) also get passed along in their products. So when I go to the supermarket and buy a can of beans, I can’t tell how much of the price is cost of the beans, the cost to put the beans in the can, the cost of getting the can on the shelf, and the taxes paid along the way. It’s incalculable. And you politicians just love it that way.

Also, there is a another hidden layer of taxes buried in that can of beans, all of the costs of capital investment have taxes hidden in. Campbells buys a new machine to put beans in the can; how much in taxes is buried in that cost? Don’t forget the gas tax for the truck that delivered it. All buried.

Even worse is that the result of corporate taxes fall on the poor because they have spend to survive, those on fixed income who should be getting a break, families who have to spend, and the illegals who don’t get the full benefit of the taxes they are paying.

Bottom line: Only “real people” pay taxes.

My bottom line: I believe folks would be in revolt if they really knew how much in taxes they are paying.

Zero the corporate taxes. Cut the size of government.

# – # – # – # – #   


SECESSION: Laugh, ridicule, and shun

Thursday, March 21, 2013

http://ericpetersautos.com/2013/03/15/fixing-their-wagon/

Fixing Their Wagon
March 15, 2013

*** begin quote ***

Shun them.

The model for this is easy enough to understand. If the person who owned the house down the road from you was known to be a child sex offender, would you invite him to your summer barbecues? Would you contract with his business to perform work? Would you shake his hand when you bumped into him at the store? You probably – hopefully – would not.

Apply the same treatment to the people who insist on living by doing violence to others. For they are exactly like child molesters in the sense that matters: They victimize people. They manipulate and coerce and threaten. They leverage power – force and its threat – to get what they want. It is only because we’ve been conditioned to accept the unacceptable via euphemism and evasion that we tolerate such people among us. Those reading this column no doubt do not accept it. Hence, they ought not to tolerate it. There may be occasions when we are forced to deal with them. But wherever possible, wherever we have the choice, we ought to elect not to deal with them. And we ought to tell them exactly why we want nothing to do with them. Call them on it. Do not let it – their reliance on violence – go unmentioned. Mention it. Bring it into the open. Make them squirm – those that still have the vestigial capacity to squirm when confronted with their own ethical atrocities. But never, ever, accept them as members of civilized society. Because civilization is dying on account of them.

*** end quote ***

Sounds like a great strategy.

Laugh at them, make them absurd, and then turn the other cheek.

Secession takes many forms!

# – # – # – # – #   


MONEY: Financial planning with old memes

Sunday, October 21, 2012

http://www.businessinsider.com/the-coming-retiree-crisis-2012-10

Take Action Now To Prepare For The Great Retiree Crisis

Jeff Voudrie, See It Market | Oct. 10, 2012, 8:30 AM

***** begin quote *****

The financial planning community has largely relied on assumptions regarding equity, debt and inflation percentages that have been experienced over the last 30 years.

There are 3 problems with these assumptions:

Equity returns the last 30 years have been extraordinarily high as a result of the longest and greatest Bull market in the history of U.S. stock markets. Accordingly, many financial plans used projections that assumed equity returns of 8-10% a year.

Debt returns over the same period are equally skewed. Remember the double-digit interest rates of the 1980’s? In 1989, as a young broker, I was selling 30-year TVA bonds yielding 10%! Financial plans the last 5-10 years have used interest rate assumptions around 5-6% a year.

The scenarios that led to the historic markets the last 30 years are very unlikely to EVER be repeated in today’s retiree’s lifetime. And those who are taking distributions based on these outdated assumptions may soon run out of money.

For instance, let’s assume that someone retired 5 years ago at age 60 with a $500,000 investment portfolio. Based on financial plans popular at that time, the retiree is taking $2500 a month in distributions—money they need to maintain their current standard of living. Since the plan anticipated the ability to average a 7% return on a portfolio with close to 50% in equities, the retiree expects to be able to take those distributions and never run out of money.

Adjusting those assumptions based on what many believe resembles more reasonable assumptions going forward requires decreasing the rate of return assumption for a similar-risk portfolio to around 4% and increasing the inflation assumption from 1-2% a year to 3-4% a year (which may still be too conservative). Suddenly, the portfolio that should last forever is now projected to be exhausted in only 16.8 years! That means that the entire nest egg and what it earns cannot sustain the current withdrawal rate. Since the retiree started the withdrawals five years ago, now they are down to 11.8 years—running out of money around age 76!

***** end quote *****

Clearly, the political class has screwed up the American economy.

Pity the poor, the elderly, the middle class, those on fixed income.

Inflation is grossly understated by the “official” stats.

Are we headed to be like Europe or pre-WW2 Germany?

Clearly, everyone needs to update their financial plans.

I’ve recommended to my turkeys that they adjust their “money reserve requirements”.

Everyone better plan to work for a longer time.

— 30 —


RANT: “Default”? No way, not needed

Tuesday, July 12, 2011

As a political junkie, I’m enraged when some bozo (i.e., politician and /or bureaucrat) is allowed by some talking head to say “default” without opposition.

IMHO any reasonable person would pay the interest on the debt first, then the social security and other mandatory welfare payments, and come up with a “total must pay”. Subtract that total from the budget to come up with “what’s left to pay”. Subtract “total must pay” from current receipts for “what’s left”.

Divide “what’s left” by “what’s left to pay” and that’s the haircut that the budget must be slashed by.

No one is going to be happy, but no default. It’ll set off a lot of wailing and gnashing but that’s what fiscal discipline is all about.

That’s why I say don’t raise the debt ceiling. And, don’t let politicians and bureaucrats scare old people by saying no soc sec or the markets by saying default.

# # # # #


RANT: BHO44 and D’s targeting the home mortgage deduction

Friday, June 3, 2011

http://www.youtube.com/watch?v=Ul2C8Gfj3Io

Dick Morris TV in the Morning! Goodbye Mortgage Interest Deductions

*** begin quote ***

Dick Morris explains the reasons behind the double dip in real estate and housing prices. He blames Obama’s plans to raise taxes and his efforts to repeal the mortgage interest deduction.

*** end quote ***

While I don’t care for him based on his personal flaws, when he talks politics, he’s a genius.

This “spending / borrowing / inflating” President is a snake!

How can the housing market recover if they do this?

“We” have to cut — cut spending, cut taxes, cut bureaucrats — but most of all cut the “barbara streisand”!

# # # # #


INTERESTING: Why would some one give the DNC $143,200 for a rubber chicken dinner?

Wednesday, May 18, 2011

http://nationaljournal.com/whitehouse/obama-expects-modest-fundraising-quarter-20110517

WHITE HOUSE
Obama Expects Modest Fundraising Quarter
The Democratic National Committee comes first–for now.
By Marc Ambinder
Updated: May 17, 2011 | 11:04 p.m.
May 17, 2011 | 4:22 p.m.

*** begin quote ***

So far the president has attended a dozen fundraisers in six cities since announcing on April 14 his decision to seek reelection. Half have been events where tickets cost $35,800. DNC takes $30,800 of that; Obama’s campaign gets only $5,000.

Donors, generally, have been asked to purchase at least four tickets to high-dollar events such as these. Obama has also attended a number of fundraisers where tickets run $1,000. The president attended a two-tier event in Washington on Monday night, and he will be in Boston on Wednesday.

*** end quote ***

Ignore the headline story. Who cares. Dig deeper.

Simple question.

Why would some one give the DNC $143,200 for a rubber chicken dinner?

It’s corrupt quid pro quo.

# # # # #


QUOTE: What about tarriffs, dumping, and “protecting domestic industries”?

Tuesday, January 11, 2011

http://cafehayek.com/2011/01/an-open-letter-to-erin-ennis.html

“I am bound to say that it is our interest to buy cheap, whether other countries will buy cheap or no.”

— British Prime Minister Robert Peel’s 1843 statement to the House of Commons explaining his decision to support a repeal of the British tariffs known as “corn laws”:   

# – # – #

Like the correct rate for corporate taxes which is zero, so to the correct rate for tariffs is zero as well.

# # # # #


Follow

Get every new post delivered to your Inbox.

Join 1,055 other followers

%d bloggers like this: