POLITICAL: My economic recovery plan

Monday, November 24, 2008

http://www.lewrockwell.com/giles/giles30.html

Fallen Angel
by George Giles

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Our one party has two wings blue state socialists and red state fascists, they only disagree on minor conjectures like should we fleece the public fisc through the Federal Reserve, or the Internal Revenue service, or both?

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If eternal vigilance is the price of liberty then Americans, as a culture, have been found wanting. The immense debt, the vanishing equity, and the struggling economic infrastructure are the waves upon which our ship of state sails.

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Wonder if the sheeple will realize they have been had? If we have faith in the “American experiment”, then we can return to our roots of rugged individualism, cast out the socialists, and let the truly free market return us to prosperity. Enlightened individual self-interest is a powerful engine of prosperity. But, we have to be the “home of the free and land of the brave”.

(1) Let the bad actors in the marketplae fail. Citi, GM, NBC, or whomever has a problem; it’s just that. Their problem. Hard bitter medicine? Yes, but essential into correcting the “moral hazard” that our politicians have allowed to happen.

(2) Restore the “uptick rule” that prevents bear raids. FIre the genius at the Treasury, Fed, SEC that changed that one historical gem of an idea.

(3) Restore the marketplace in mortgages. Home ownership may not be for everyone. 20% down! Review every mortgage for criminal fraud. (Rumor hath it that Organized Crime went into the mortgage business.)

(4) End the “Drug Prohibition” policy. Sorry, but it’s nobody’s business what anyone puts in their own body. Pardon all non-violent drug offenders. Allow WalMart to battle the “illegal violent drug dealers”. (The cost of impure illicit drugs will dissolve overnight when Sam Walton’s children become “drug dealers”.) Clean safe drugs at everyday low prices will take all the profit and sexiness out of the drug culture. Hard to imagine a drug war over aspirin level prices. Pot, heroin, crack, and speed for $4 for a month’s supply? Maybe then as a society, we can focus on the medical problems that addicition represents. And, stop killing children both directly and indirectly. Eleimate all the drug agencies: DEA, FDA, and on and on. Consumers Reports, Underwriters Labratory, and “Drug Stores” like WalMart will do a far better job of keeping us safe.

(5) Downsize governemnt at all levels. Let’s conduct a raid on all these bloated kingdoms of waste. Let’s cut 5% per year. Every year.

(6) Let’s cut taxes. Business tax should be 0, but let’s start but cutting it to 10%. (Ireland is 11%!) We know that businesses don’t pay taxes; people do! Personal income tax ditto 10%. And, ONLY ONE ENTITY can collect our 10%. Either Federal, State, or Local gooferment. How they divide it up I care not, but no more than 10%. Property taxes should also be 0. Let the police, fire, and trash be supplied on a competitive basis.

(7) Let’s all MYOB. Marriage should be left to churches; not the gooferment.

How’s that for an economic recovery plan?

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RANT: We have an “economic illiterate” as US Senator!

Wednesday, November 5, 2008

http://www.americanthinker.com/blog/2008/11/how_stupid_is_senator_menendez.html

http://www.youtube.com/watch?v=W7FJX5QiCrw

November 04, 2008

How stupid is Senator Menendez?

Larrey Anderson

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Either he is stupid or he is intentionally confusing the difference between the income tax and capital gains taxes.

Watch this interview of Senator Robert Menendez, a New Jersey Democrat, by Neil Cavuto on FOX news.

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Well, we have Lautenberg too.

<Just shaking my head!>

I don’t think we have ANYTHING to worry about. There won’t be any tax cuts period.

Then sheeple have been fooled again.

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POLITICAL: Corporations don’t pay taxes; people do. Zero the Corporate Tax Rate!

Sunday, September 28, 2008

http://www.doughroller.net/2008-presidential-elections/presidential-debate-fact-check-obama-mccain-economic-cla

First Presidential Debate Fact Check: Obama and McCain’s Economic Claims
Written by DR | Bookmarks: Reddit this, del.icio.us

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The first 2008 Presidential Debate saw both Senators Obama and McCain defend their economic proposals and attack the other’s plan. Facts, figures and statistics were flying back in forth during the exchange so fast it was difficult to keep up. So after the debate I watched the replay and read the transcript to pick out the economic claims made by both Presidential candidates. In this article, we’ll look at their claims to determine whether they are rock solid true (earning a score of 1), true but with a lot of spin (earning a score 2) or flat out, nose-growing false (earning a score of 3).

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MY COMMENT ON THIS STORY

Excellent job on fact checking. Calm and reasoned. Apparently fair.

I have no “dog” in this fight. I’m a little L libertarian. Don’t care much for either candidate.

I would like to comment on “Corporate Income Tax”.

It’s a sham designed to deceive the folks as to what is the overall level of taxation that Americans pay.

CORPORATIONS DON’T PAY TAXES OR FEES. YOU DO!

As a “frugal” site, I read often, I think you’d hammer this home.

Corporations are very much like a zero sum game. If they have a cost, they pass it along to the person who buys their product or services. If it’s a widget with a pound of steel in it, your paying for that pound. Price of steel goes up, the corporation marks up the price of their product. Simple enough. If they didn’t they’d go broke.

When the gooferment imposes taxes on Corporations, that’s just another cost that the business pass along to you. EXCEPT now you can’t see it. You don’t know what portion of the cost of a loaf of bread is taxes and what portion is bread.

It gets worse, regulations and laws add costs. They come to you hidden in the cost of the products.

It gets even worse, when the gooferment taxes a product that corporations use to make or deliver other products (e.g., gasoline), that tax is a tax on taxes. And is passed along and even buried further. It has an exponential effect!

I’ve seen estimates that the real tax percentage in products is HUGE! 50 to 75%!! I don’t think anyone can tell. AND that’s excatly the politicians purpose.

Bottom line: Corporate taxes imho should be ZERO!

Let’s put the cost of gooferment squarely out in the open! These bozos are no fools. There’s a reason that Tax Day is a half a year away from election day. That reason is that they couldn’t get it any further away.

So, when either candidate talks about corporate taxes, regulation, and fees, I think they are, possibly unknowingly (But I don’t beleive that) DEFRAUDING us from know the true cost of how badly we are being ROBBED!

sigh, imho,
wake up sheeple,
fjohn

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LIBERTY: Calling Taxachusett’s voters — CARLA HOWELL’S OP-ED

Monday, September 22, 2008

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CARLA HOWELL’S OP-ED COLUMN FOR THE SUNDAY BOSTON GLOBE
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Below is Carla Howell’s final draft of her Op-Ed Column for the Sunday,
September 21 edition of the Boston Globe:

Why Haven’t You Been Told These Things About Ballot Question 1?

by Carla Howell

Why are 1,350,000 Massachusetts voters already planning to vote YES on
Question 1 to end the state income tax?

First let’s look at what happens if you join those YES voters – and what
happens if you don’t.

If you vote YES, we end the state income tax, let 3.4 million workers
get back an average of $3,700 each, every year, and roll back annual
state government spending to $34.7 billion.

If you vote NO, we keep the state income tax, require those workers to
keep paying an average of $3,700 each every year, and maintain state
government spending at $47.3 billion.

Which choice, which vote is better for the 3.4 million workers and
taxpayers of Massachusetts? Let’s look at some key Massachusetts
government numbers.

The $28.2 billion “budget” figure tossed around is only part of it –
called the Statutory Budget. There are three other parts of the complete
budget: NON-Budgeted Spending, Capital Spending, and Expendable Trust
Spending(1). These four budgets come to $47.3 billion in state
government spending for this year.

Massachusetts cities and towns are spending $27+ billion(2) this year.

That totals $74.3 billion in Massachusetts government spending. Subtract
$5 billion in state funds given to cities and towns (to avoid double
counting) and subtract another $12.6 billion from the state income tax.

What’s left? $56.7 billion for city, town and state governments AFTER we
end the income tax – way more than needed to fund every essential
government service.

Government waste is one reason why so many voters already plan to vote
YES on Question 1. Last April, Fabrizio Surveys asked Massachusetts
voters this question: “How many cents out of every dollar you pay in
state taxes would you say is wasted by the state government?” Their
average estimate was “41 cents.”

Ending the income tax will cut state spending by just 27%, leaving
billions of dollars in state government waste still to cut – without
even touching the waste in local government spending.

There’s one more number that will make you feel at home if you’re
inclined to vote YES on Question 1.

45% of Massachusetts voters already plan to vote YES on Question 1 –
according to three polls, approximately the same number that polls show
will vote against Question 1. With a November 4th voter turnout of 3
million, that comes to a whopping 1,350,000 votes to end the state
income tax.

The numbers show we can easily afford to end the income tax and how many
voters want it. But it’s the benefits to the people of Massachusetts
that make a YES vote on Question 1 a real winner.

Voting YES will give back over $3,700 each, on average, to over 3,400,
000 Massachusetts workers and taxpayers. That’s a $3,700 pay hike for
each of them, not just once, but every year.

It will take $12.6 billion out of the hands of Beacon Hill politicians –
and put it back into the hands of the men and women who earned it. Every
year.

In productive, private hands this $12.6 billion a year will create
hundreds of thousands of new jobs in Massachusetts.

This tax cut will force the state legislature to streamline and cut the
waste out of the Massachusetts state budget.

It will force the state legislature to get rid of the failed, flawed
government programs that don’t work – and often make things worse.

It will make the state legislature accountable to Massachusetts workers
and taxpayers – instead of the government employees, lobbyists, and
special interests who profit from high government spending.

With less government and no income tax, Massachusetts will become a
magnet to private, productive businesses and individuals. This will
bring the state more good jobs and more good workers.

A YES vote will enable Massachusetts families to pay off their mounting
bills and debts – and save thousands of them from home foreclosures and
bankruptcy.

By making the Massachusetts total tax burden more affordable, we’ll
allow more of our young people to stay in Massachusetts near their
family, their friends, and their home.

These are the reasons why you should vote YES on Question 1 to end the
income tax. It’s not just what’s best for you. It’s what’s best for 3.4
million Massachusetts workers and taxpayers – and their families.

(1) (http://www.mass.gov/Aosc/docs/reports_audits/SBFR/2007_SBFR.pdf
Pages 308 – 312)

(2)(http://www.mass.gov/?pageID=dorterminal&L=3&L0=Home&L1=Local+Officia
ls&L2=Municipal+Data+and+Financial+Management&sid=Ador&b=terminalcontent
&f=dls_mdmstuf_aag_aagindex&csid=Ador , See Fiscal Year 2007 Schedule A,
Actual revenues/expenditures for each town. Adjust up $1.3 billion for
all towns to bring budget current.)

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