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For Personal Responsibility
Monday February 25, 2008
"The FairTax is regressive and shifts the tax burden onto lower and middle income people" NOT TRUE
The truth: The FairTax actually eliminates and reimburses all federal taxes for those below the poverty line. This is accomplished through the universal prebate and by eliminating the highly regressive FICA payroll tax. Today, low and moderate income Americans pay far more in FICA taxes than income taxes. Those spending at twice the poverty level pay a FairTax of only 11.5 percent -- a rate much lower than the income and payroll tax burden they bear today. Meanwhile, the wealthy pay the 23 percent retail sales tax on their retail purchases.
Under the federal income tax, slow economic growth and recessions have a disproportionately adverse impact on lower-income families. Breadwinners in these families are more likely to lose their jobs, are less likely to have the resources to weather bad economic times, and are more in need of the initial employment opportunities that a dynamic, growing economy provides. Retaining the present tax system makes economic progress needlessly slow and frustrates attempts at upward mobility through hard work and savings, thus harming low-income taxpayers the most.
In contrast, the FairTax dramatically improves economic growth and wage rates for all, but especially for lower-income families and individuals. In addition to receiving the monthly FairTax prebate, these taxpayers are freed from regressive payroll taxes, the federal income tax, and the compliance burdens associated with each. They pay no more business taxes hidden in the price of goods and services, and used goods are tax free.
How can the FairTax generate lower net tax rates for everyone and still pay for the same real government expenditures? The answer is two-fold. Firstly, the tax base is dramatically widened by including consumer spending from the underground economy (estimated at $1.5 trillion annually), and by including illegal immigrants, those who escape their fair share today through loopholes and gimmicks. In addition, 40 million foreign tourists a year will become American taxpayers as consumers here. Secondly, not everyone's average net tax burden falls. For households whose major economic resource is accumulated wealth, the FairTax will deliver a net tax hike compared to the current system.
Consider, for example, your typical billionaire, of which America now has more than 400. These fortunate few are invested primarily in equities on which they pay taxes at a 15 percent rate, whether their income comes in the form of capital gains or dividends. In addition to having the income from their wealth taxed at a low rate, the principal of their wealth is completely untaxed either directly or indirectly. Assuming they and their heirs spend only the income earned on the wealth each year, the tax rate today is 15 percent. In contrast, under the FairTax, the effective tax rate is 23 percent. Hence, the very wealthy will pay more taxes when the FairTax is enacted. In a nutshell, those who spend more will pay more but low, moderate and middle income taxpayers will benefit from the greatest gains in reduced tax liabilities.
I report,U decide
| | Posted by alanrph at 8:57 PM - | |
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Saturday February 23, 2008
We can't always be nice as I disagree with opposition to torture.
First: torture is not imposed on every prisoner. Only on those that might have vital information that could help our side.
Second: Torture generally does not kill the person, only injure.
Third: If injuring one person could save the lives of thousands, would it be worth it?
Consider this: If one suitcase atomic bomb were to explode in one of our large cities, it would kill thousands and leave our city desolate for 100 years. A dirty bomb could cause the city to be radioactive. Do you think our enemies care if this were to occur? The more information that we have, the better we are to prepare.
Question: If we adopt the policy of always being the nice guy, will our enemies follow?
I report,U decide.
| | Posted by alanrph at 6:45 PM - | |
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Thursday February 21, 2008
President Bush proposed legislation to increase prescription drug premiums for higher-income Medicare beneficiaries. The proposal which would generate $3.2 billion of additional revenue for Medicare over the next five years, was part of a broader package that is intended to rein in medicare costs while advancing the Republican vision of a larger private role in the health care system. The bill would require the secretary of health and human services to provide price and cost information to Medicare benificiaries to help them select treatment options and choose among doctors, hospitals and health pans. The federal government would also have release to the public physician-specific measurements of the quality or efficacy of doctors. Prescription drug premiums woud increase for any individual with income over $82,000 and any couple with income over $164,000, premiums would more than triple for many individuals with income over $205,000. This proposal and others similar would discourage those in favor of socialized medicine. I report, U decide.
| | Posted by alanrph at 3:59 PM - | |
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Monday February 18, 2008
On June 05 ,2007 Congressman Willam Jefferson, Democrat Louisiana, was hit with 16 federal charges accusing him of using his political office to bribe businessman and influence foreign officials. House rules do not require Jefferson to step down rom his post at this time. If he were to be conviced and senenced to more than two years in prison, he could be stripped of his voting priveleges.
Jefferson is charged with bribery, obstruction of justice,wire fraud, money laundering and racketeering. The nine-term representative used the power of his office to take hundreds of thousands of dollars in bribes from US businesses and to influence foreign officials. The indictment sez that Jefferson received more than $500,000 in bribes and sought millions more in separate schemes to enrich himself by using his office to broker bussiness deals in Africa. The carges came almost two years after investigators raided Jefferson's home and found $90,000 in cash stuffed in his freezer. He was videotaped accepting $100,000 in $100 bills from a Nortern Virginia investor who was wearing an FBI wire. If convicted of all charges, Jefferson could face a maximum sentence of 235 years.
The most significant part of this is that shortly after the above incident he was re-elected by a large majority of voters of district 2 of Louisianna. Huey Long, also of Louisianna, was shot for less than that.
He's not the only Democrat to be glorified by Democratic voters. We can also mention Teddy Kennedy, "the hero of Chappaquidick" and Barney Frank, who allowed a gay friend to use his apartment as a whore house. In addition we have Kwame Kilpatrick, mayor of Detroit and Marion Berry, Mayor of Washington DC. They both have serious charges against them, even with Berry a felon, and were both reelected by large majorities. I can't imagine Larry Craig being re-elected by Republicans after a much less severe incident. There may be, but I would challenge someone to show me a similar incident amng Republicans. I report,U decide.
p.s. there is a similarity in name, William Jefferson Clinton.
| | Posted by alanrph at 5:52 PM - | |
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Sunday February 17, 2008
Abe Lincoln sez.... "you cannot help the poor by destroying the rich", also "you cannot help the wage earner by pulling down the wage payer." Super rich Warren Buffet takes no salary so therefore pays no personal income tax, but his company pays plenty of tax. The top 25% of the income earners pay 82% of the taxes.
Most Democrats practice class envy to the point where they want to increase the already high tax rates paid by the wealthy. With the tax cuts brought about in 2001 and 2003 the tax rate of the poorest was reduced from 15% to 10%, a 33% reduction in dollars paid, and the richest rates were reduced from 37% to 35%, a 1% reduction in dollars paid. I report, U decide.
| | Posted by alanrph at 6:15 PM - | |
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