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Budget and Taxes Do you feel that raising taxes will help solve the debt of the United States? Are you a fan of Reaganomics?

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Old 02-27-2008, 11:29 AM   #1 (permalink)
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My Economic Protection Plan
1-Protect American jobs by:

-Exiting free trade pacts like NAFTA and Cafta, as well as the World Trade Organization.
-Setting a tariff system based on the difference between our national minimum wage and the minimum wages of other countries, so as to create a level playing field for American companies. This way companies can't get away with outsourcing jobs and moving factories to places like China and Mexico where labor is cheaper.

2-Make American companies competitive by:

-Placing caps on how much CEO's and managers can be paid above the average worker. American companies Ford and GM are outsourcing labor with the excuse that they can't compete using higher-priced American workers, but Japanese company Toyota is creating more and more plants here in the U.S. and is prospering because they don't pay their management exorbitant sums of money.
-Creating a government registry showing the number of U.S. workers employed by selected major companies (as well as percentage of workers which are American) so that American consumers can easily choose to support those companies which are best for American jobs.

3-Fix the housing crisis by:

-Enacting legislation that will protect American homeowners from fraudulent lending practices like ARM's.
-Requiring lenders to present info to buyers showing what each of the payment plans will cost as compared to the original price.
-Creating a law where buyers paying 200% of any object's original cost instantly are credited as "Paid in Full". A profit of as much again as something costs should be satisfactory for any seller and they should not be able to drag out homeowners year after year on interest costs alone.

4-Reduce the major source of government spending: our military, by:

-Withdrawing troops from both Iraq and Afghanistan, effective immediately. Withdraw them as fact as our economy can support them returning, and leave only a 5% contingent to guard to-be-created heavily defensive outposts near areas key to the securities of said countries, like oil fields, government offices, major schools and hospitals, etc.
-Focusing on protecting our own borders and withdrawing troops stationed around the world.

5-Change our tax system by:

-Instituting a sales tax and eliminating the income tax. Similar to the FairTax suggested by Mike Huckabee, where people keep the money they make and luxury goods are taxed more heavily, this will simplify our tax system, allow the poor to pay virtually nothing extra, and get rid of the tax loopholes that the rich and corporations have been able to avail themselves of.

Last edited by Jzyehoshua; 02-27-2008 at 11:32 AM.
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Old 02-27-2008, 02:24 PM   #2 (permalink)
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Jzyehoshua wrote:
Quote:
5-Change our tax system by:

-Instituting a sales tax and eliminating the income tax. Similar to the FairTax suggested by Mike Huckabee, where people keep the money they make and luxury goods are taxed more heavily, this will simplify our tax system, allow the poor to pay virtually nothing extra, and get rid of the tax loopholes that the rich and corporations have been able to avail themselves of.
It is noted, in the FairTax Legislation:
----------------------------------------------------------
(d) Liability for Tax-

(1) IN GENERAL- The person using or consuming taxable property or services in the United States is liable for the tax imposed by this section, except as provided in paragraph (2) of this subsection.

(2) EXCEPTION WHERE TAX PAID TO SELLER- A person using or consuming a taxable property or service in the United States is not liable for the tax imposed by this section if the person pays the tax to a person selling the taxable property or service and receives from such person a purchaser's receipt within the meaning of section 510.
----------------------------------------------------------

Government was never granted the power to lay a direct tax upon the inhabitants of the States. A Constitutional Amendment would have to be passed to enable this legislation.

I don't know why this FairTax couldn't be an excise tax like the federal income tax is now. The tax could be imposed on business, with the amount of the sales being the measurement for the amount of the tax owed. Little wonder this legislation isn't getting anywhere. It's WAY too complicated.



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Old 02-27-2008, 02:31 PM   #3 (permalink)
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Quote:
Originally Posted by indago View Post
Jzyehoshua wrote:

It is noted, in the FairTax Legislation:
----------------------------------------------------------
(d) Liability for Tax-

(1) IN GENERAL- The person using or consuming taxable property or services in the United States is liable for the tax imposed by this section, except as provided in paragraph (2) of this subsection.

(2) EXCEPTION WHERE TAX PAID TO SELLER- A person using or consuming a taxable property or service in the United States is not liable for the tax imposed by this section if the person pays the tax to a person selling the taxable property or service and receives from such person a purchaser's receipt within the meaning of section 510.
----------------------------------------------------------

Government was never granted the power to lay a direct tax upon the inhabitants of the States. A Constitutional Amendment would have to be passed to enable this legislation.

I don't know why this FairTax couldn't be an excise tax like the federal income tax is now. The tax could be imposed on business, with the amount of the sales being the measurement for the amount of the tax owed. Little wonder this legislation isn't getting anywhere. It's WAY too complicated.



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Hmm... interesting, it does sound more complicated than I'd first thought. Couldn't it just be a basic matter though of taxing goods or services more or less heavily based on their cost range?
Old 02-28-2008, 03:53 AM   #4 (permalink)
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Jzyehoshua wrote:
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Hmm... interesting, it does sound more complicated than I'd first thought. Couldn't it just be a basic matter though of taxing goods or services more or less heavily based on their cost range?
It's not just a matter of "taxing goods or services more or less heavily based on their cost range". In the federal arena, it's a matter of the differences between the direct and indirect taxing system.

Concerning the sales tax in the State of Michigan: "The tax has been held to be a privilege fee imposed upon persons doing business at retail." — Miles Laboratories, Inc v Simon 33 F supp 962

And, according to the Supreme Court of the State of Michigan: "The tax is not imposed upon the consumer, but upon those engaged in the business of making sales at retail".

It was noted that the retailer could add the tax to the cost of doing business, and list the tax on the bill, or just list the price of the item, or items, sold without lising the tax included, although the tax had already been included in the total price of the item. It is an excise tax. The tax is imposed on the "act of doing business at retail", the amount of the sales being the measurement for determining the amount of the tax owed. Thus, it is called: "Sales Tax".

Since the FairTax legislation imposes the tax directly upon the consumer in the cited section, it doesn't pass constitutional muster. Changing the legislation to match that of the State of Michigan — and, as a result, making it an indirect tax, or excise tax instead — it would then pass constitutional muster.
Old 02-28-2008, 09:53 AM   #5 (permalink)
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Protect American Jobs by:
Eliminating corrupt labor unions and the lazy inefficient workers who are members of the same. That would curtail the business interests of the mafia, and make union workers realize that you should actually work for the higher pay and benefits you are constantly bitching about.

Make American Companies competitive by:
Requiring that CEOs cannot be bald and/or fat. That CEOs do not receive their incentive pay even when they fail miserably. And....do away with labor unions.

Fix the housing crisis by:
Denying loans to mindless idiots.

Reduce Government spending by:
Eliminating welfare, handouts, and all programs designed to protect the endangered gay spotted snail turtles. Quit giving foreign aid to countries who constantly betray us (like Israel).

Change our tax system by:
Instituting a flat tax (Steve Forbes has it right). Eliminating all government handouts (including welfare) to those who do not pay taxes.
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