Wednesday, August 16, 2006

Tax Reform

Correction to previous blog re Free Press:
The third paragraph describes a condition where persons within a sphere of influence will be influenced to emulate a more dominant phiosophy. I believe I had been introduced to this concept by an appearance of Hugh Hewitt during a TV Cable interview. I am now reading Hugh's book "BLOG" and it describes this concept and reminded me of the source of my opinion. Please read the book, it is excellent. Also visit his site and enjoy his current comments. Hugh prides himself on being accurate and providing reliable and truthful information. I believe in Hugh and he inspires many of us. I apologize for not giving credit before now.

The posting for today will introduce you to a subject that I will discuss in several postings.


Congress likes to treat us like they raise mushrooms:
You keep them in the dark, cover them with BS and at the first sign of life cut them off at the roots.

I think tax reform would be to totally simplify and reform our complicated tax system. Congress likes to make modifications with special exemptions for special groups which mean the rest of us pay more. It gives the congress power. I put through your exemption, now you help me. Now, it is even OK to send their aides some special gifts, so if the aide is getting a trip from a special group and you want to talk to the senator about a problem with that group, forget it, your mail will probably never reach that senator.

I want to see total tax reform. I would like to see a specialized group of experts study the situation and then come up with a better plan.

Believe it or not, my prayers have been answered. A group of successful business men have put together twenty million dollars and hired economists and accountants to make a study and they have discovered some very interesting things that will help us. In fact, if they can implement their findings your income will increase, much of the IRS staff will be absorbed into other duties, social security and even Medicaid will be fully funded. As a bonus our economy will expand as money from all over the world comes to or comes back to the USA for its tax advantages.

What this hired brain trust found was that in each product we buy, the price is increased by the cost of taxes paid by each participant of producing the product. Corporate income taxes, workers share of taxes paid by the companies, income taxes paid by truckers and other contract workers. The amount of tax paid varies by product but if you buy a VCR for $100.00 on average $22.00 is going to pay taxes. So the brain trust says stop taxes so the price will drop to $78.00 and then add back in $23.00 as a built in consumption or sales tax and now the price will still be about $100.00 but now there is a big difference.

Look at your last pay check and note the amount that is deducted for taxes and social security. If that amount were paid to you instead of being deducted see how much your take home pay will increase!

And that is not all the increase you will receive but you will have to wait for the next issue so I can feed this information to you in small bits so you can absorb it. The tax is known as the “Fair Tax” and you can research it on your own. But please come back as I lead you through the benefits and drawbacks of this program and why it will not pass unless you want it.

No comments: