It is astonishing to see liberal talking heads back Obama’s jobs bill, and more specifically the tax hikes on “rich people”. Has anyone looked up the definition of Socialism lately?
so·cial·ism
[soh-shuh-liz-uh-m] -noun
1. a theory or system of social organization that advocates the vesting of the ownership and control of the
means of production and distribution, of capital, land, etc., in the community as a whole.
2. procedure or practice in accordance with this theory.
3. (in Marxist theory) the stage following capitalism in the transition of a society to communism, characterized by
the imperfect implementation of collectivist principles.
WOW! This is right out of the playbook.
Controlling the production of capital: This is exactly what happened with the Solyndra scandal. Government is not a venture capitalist and when it becomes one, it always fails. Pushing through loans and trying to make a company work is not something governments can do because they have no vested interest. They use taxpayers’ money and have no accountability for the share holders. On the other hand, an investor wants his company to succeed so he/she doesn’t go bankrupt. So he/she will take the necessary steps to make the most product at the least cost. This is how Capitalism works, and why it has worked so well for over 230 years.
It is so beyond scary to see so many news anchors, commentators, union leaders, political leaders, and Presidents back this idea of taking from the rich and redistributing the wealth to the poor. It has been tried in countless countries and failed each time. No, I take that back. It has succeeded overwhelmingly at its intended purpose; overthrowing governments and giving the power to emerging dictators – see #3 on definition of socialism.
Also beware of people like Stephen Lerner who advocate unrest and overthrow of our systems.
You have heard Obama claim that all Americans need to pay their fair share of taxes. Well what exactly is the fair share? Does one man have the power to decide whats fair? A quick look at the data from 2008 – not much has changed in two years – and you will notice that the top 1% of taxpayers earn about 20% of all the adjusted gross income but pay nearly 40% of the taxes. While the bottom 50% of taxpayers earn about 12.75% and pay just under 3% of the total income taxes. While the bottom 47% or 48% DONT PAY ANY FEDERAL INCOME TAXES. Doesn’t that seem reversed? In the business world you want incentives to make more, not make less, so you can pay less taxes. This is where our country is distorted. There isn’t as much incentive to do well because so much of your money is taken and given to people who don’t work as hard and educate themselves. Many know they can just float through life, be a bad student, bad worker, etc., and have the government (high income earners) pay their way through life; in the form of welfare, unemployment, Social Security, Medicare, and Medicaid.
Most importantly, the means to become rich are so strapped by government rules and regulations, the American Dream is just that; a dream.
—–
I think that Churchill said it best.
“We contend that for a nation to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.” – Sir Winston Churchill
On that note, once you have identified the problem you need to lay out a solution. This is again where you will hear many media personalities claim that Republicans have no plan – even though they have submitted multiple this year alone only to be shot down or tabled in the Senate, or threatened by the President to receive a veto. Most famous were the Cut, Cap, and Balance plan and the Paul Ryan budget plans; reforming many plagued government programs.
This is a rough list of the ideas I have to spur economic super-growth in the private sector. The area where real prosperity is created.
1.) Cut taxes for everyone. Institute a flat tax, if you were to have an income tax, of say 15%. You then broaden the tax base to include the 50% of the country paying no federal income tax. Everyone pays 15% federal income tax. This would drastically increase “revenue”, which the Democrats talk about all the time now, as a cover for tax hikes. That would probably get rid of all the “unfair” talk we have going on between the President and the country, don’t you think?
2.) Better yet, just get rid of the income tax. This is a Keynesian approach, to bring down the skilled worker and redistribute the wealth to the poor; originally implemented as the 16th amendment by super-progressive, Woodrow Wilson, as a tactic to pay for war.
3.) Get rid of capital gains, property, and estate. These are worthless taxes that take from the wealthy and have proven to grow government. Capital gains are the taxes put on earnings from things like stocks and are already taxed through income initially, so that’s a double tax. Property taxes are taxes you pay on your land. The government forgot that the Founding Fathers meant for the people to own their land, not the government. By taxing you on your land, the government is telling you that you don’t own it, you just are leasing it from them. Estate tax, or the death tax, is land/house taxed that is inherited or given to someone through a will when someone dies. Just another way for government to corral your money.
4.) In getting rid of the federal income tax we would implement a small national sales tax that would tax all items being sold, except vital goods like food/commodities. This would incorporate everyone in the entire country; every single person taking something from the pot, is also contributing to it. Every person getting paid under the table, illegal immigrant, or tax cheat; is now taxed when he/she buys items at the store. Fair share, right?
5.) Stop some tax loopholes for corporations that give companies, like GE, the ability to pay ZERO taxes and stash their money in overseas accounts.
6.) Stop printing money (audit the Federal Reserve) – This stops inflation and gets rid of the secret tax. The secret tax is hidden everywhere, all around you. Every good and commodity goes up in price but your wages don’t. You pay more for each product, effectively lowering the purchasing power of the green you have; forcing you to hand away more bills for the same product.
7.) Get rid of much of the regulations and red tape hamstringing small business. Which leads in to the biggie…
8.) Repeal Obamacare. The national healthcare law the Democrats shoved down our throats while in full control will destroy job growth. Not to mention when it takes effect in 2013 it will bring more tax hikes. The ills of Obamacare are long and many. This is something I will cover in the near future. This post is long enough and may be easily doubled if I begin to explain the negatives that will come along with it.
9.) Stop bailing companies out – This is counterintuitive. no one is too big to fail and sets a horrible example for companies and citizens. Bail outs are counter to free markets and free enterprise.
10.) Institute tort reform – Ridding the judicial system of many frivolous lawsuits. The component added would be a loser-pays system. If you file a frivolous lawsuit and lose then you pay the costs. See Texas for the success of this policy.
11.) Reform entitlement programs – Medicare, Medicaid, and Social Security need serious overhauls. They are colossal burdens on our taxpayers. The big three take up nearly 50% of our federal budget without enough taxpayers paying in to the system to keep it upright, which we are beginning to see the repercussions of now.
12.) Reform unemployment – You have to work for charities or a company and get job training. There should also be an allotted time period that you are eligible for payments.
13.) Reform welfare – You should be drug tested while receiving welfare checks. If you test positive you are immediately off and you have to pay for the test. If you test negative, then you are refunded your test money. You should also have an allotted time period before your checks stop; say 18 months.
14.) Re-work base-line budgeting. Every time there is 1% increase in spending, there should be a 1% increase in the budget. Right now we have a budget that increases automatically each year. For example, say the budget increases 9 percent each year. If you only spend an extra 5% that year the Congressional Budget Office (CBO) scores that as a 4% budget cut. With this system, real budget cuts will never be attainable. The budget will continue growing uncontrollably. To put it in relative terms: its like being dragged to a store by your friend when you have no money, buying something on sale, and telling yourself you just saved money.
Just a few things that can be done to immediately relieve the burden on the American economy. This should get the ball rolling – as there are still, many things we could do that are not mentioned above.
Posted in
Business,
Debt/Deficit,
Economy,
Green Energy,
Limited Government,
Taxes,
Unemployment,
Welfare and tagged
Jobs Bill,
Medicaid,
Medicare,
Obama,
Social Security,
Socialism,
Stephen Lerner,
Taxes,
Unemployment,
Welfare,
Winston Churchill |
Where The Puck Is Going 