Archive for the ‘taxes’ Category
December 6th, 2011 | 
Author: Free Democracy: Mr. Romney's Missing Details
Here's a reminder: It would cut food stamps by $127 billion, which would remove millions of people from the rolls during a downturn and cut the benefits of those who remain. Nearly two-thirds of Mr. Ryan's cuts affect low-income programs like Pell grants, housing subsidies and Medicaid. That's never mentioned by Mr. Romney, who instead talks about big cuts to tiny programs that are wildly unpopular with the party base, like the national endowments, family planning …
Feds Raid Million Dollar Home of Welfare Recipient in Washington …
conservativebyte.com12/5/11
I was in line behind a family that probably was living like the one in the article as they paid for almost $400 worth of food with food stamps. They had some … This is why Medicare and Medicaid is in deep $hit. People abusing …
The following advice appeared in the Waco Tribune Herald on Nov 18, 2010
*I’d be happy to give a link to the article but only subscribers to the newspaper can view it.
It appeared under letters to the editor, and was written by a twenty one year old female.
It’s her future shes worried about and this is how she feels about the social welfare big government state that shes being forced to live in!
Fixing Social Security; Put me in charge of welfare, Medicare and housing grants!
The problems we face today are there because the people who work for a living are outnumbered by those Who vote for a living!
Put me in charge of food stamps. I’d get rid of Lone Star cards; no cash for Ding Dongs or Ho Ho’s, just money for 50-pound bags of rice and beans, blocks of cheese and all the powdered milk you can haul away. If you want steak and frozen pizza, then get a job.
Put me in charge of Medicaid. The first thing I’d do is to get women Norplant birth control implants or tubal ligations. Then, we’ll test recipients for drugs, alcohol, and nicotine and document all tattoos and piercings. If you want to reproduce or use drugs, alcohol, smoke or get tats and piercings, then get a job.
Put me in charge of government housing. Ever live in a military barracks? You will maintain our property in a clean and good state of repair. Your "home" will be subject to inspections anytime and possessions will be inventoried. If you want a plasma TV or Xbox 360, then get a job and your own place.
In addition, you will either present a check stub from a job each week or you will report to a "government" job. It may be cleaning the roadways of trash, painting and repairing public housing, whatever we find for you. We will sell your 22 inch rims and low profile tires and your blasting stereo and speakers and put that money toward the common good..
Before you write that I’ve violated someone’s rights, realize that all of the above is voluntary. If you want our money, accept our rules.. Before you say that this would be "demeaning" and ruin their "self esteem," consider that it wasn’t that long ago that taking someone else’s money for doing absolutely nothing was demeaning and lowered self esteem.
If we are expected to pay for other people’s mistakes w e should at least attempt to make them learn from their bad choices. The current system rewards them for continuing to make bad choices.
AND While you are on Govt subsistence, you no longer can VOTE! Yes that is correct. For you to vote would be a conflict of interest. You will voluntarily remove yourself from voting while you are receiving a Govt welfare check. If you want to vote, then get a job.
BTW – I personally think that the author of the book, "How To Get Food Stamps, Welfare And Other Benefits", should be put in stocks and pelted with fruit and vegetables by all those that work for a living!
Herman Cain's 999 Plan Draws Praise, Skepticism – Finance – CBN …
Cain's 999 plan is part of what's propelled him to the front of the GOP field. Although the plan is resonating with voters, it's drawing criticism from economists.
Publish Date: 10/15/2011 2:00
http://www.cbn.com/cbnnews/finance/2011/October/Herman-Cains-999-Plan-Draws-Praise-Skepticism/
Why I Support Herman Cain For President – Forbes
 Neon Tommy |
Why I Support Herman Cain For President
Forbes The author is a Forbes contributor. The opinions expressed are those of the writer. I have decided to support Herman Cain for president of the United States, and have joined his team of economic advisors. Central to my support are Cain's pro-growth … Cain's 999 Plan A Payoff For Koch Support Interview with Presidential Candidate Herman Cain Cain's 9-9-9 Plan: A Step In The Right Direction |
Herman Cain Wants To Kill Our Tax Code!
Herman Caine is the only GOP presidential candidate that wants to do it, and he’s rising super fast in the opinion polls!
The 999 Plan Isn’t Perfect
But like they say,
"Good should never be the enemy of the perfect" – Voltaire
and Rep. Paul Ryan just gave the plan a thumbs-up!
Art Laffer agrees and says,
"It would be far, far better than the current system".
*Arthur Betz Laffer is an American economist who first gained prominence during the Reagan administration as a member of Reagan’s Economic Policy Advisory Board (1981–1989).
And Chris Chocola, the president of the free-market Club for Growth, calls it,
"A truly revolutionary tax reform that would amount to a massive job-creating tax cut on investments, savings and income".
What Is Caine’s 999 Plan?
A 9% income-tax rate.
A 9% value-added net sales tax rate on business.
And a 9% national sales tax overall.
The sales tax part has come under attack from both sides of the political spectrum with many conservatives worrying that it will start at 9% and gradually get raised, whilst a good number of Liberals oppose it because they say its regressivity will hurt middle- and low-income people.
* A regressive tax imposes a greater burden, relative to resources, on the poor than on the rich because there is an inverse relationship between the tax rate and the taxpayer’s ability to pay as measured by assets, consumption, or income.
Cain’s Rebuttal Of Sales Tax Criticism
Everybody below the poverty line will be exempt from the sales-tax and the sales of existing goods will be exempt.
The sales tax will pick up revenue and help to lower the rate for everybody, especially the middle class.
And Caine’s economic adviser, Rich Lowrie says that.
"The sales tax is a replacement tax, not an add-on tax like you’d find at the state level. This is a key point. All we are doing is pulling out taxes that are invisible. We’re cutting the rates. We’re putting them back in at lower rates".
Lowrie is referring to the payroll tax, which in the Cain plan will go from 15% to 9% which constitutes a net tax cut and a good deal more transparency regarding costs and prices that are embedded in the current code.
"The 9-9-9 plan will add $2 trillion to U.S. gross domestic product, create 6 million jobs, increase business investment by a third and lift wages by 10%. And if you fold all that growth together, federal revenues go up by 15%", said Lowrie,
Would It Work?
Such a gigantic drop in marginal tax rates for individuals, 35 to 9%, or to 18% including the sales tax, and for businesses also from 35 to 9% would supply an incredibly strong economy-wide growth incentive, and if you’re looking for proof, then you need go no further than the Harding-Coolidge-Mellon tax cuts of the 1920s, the John F. Kennedy tax cuts of the 1960s and the Ronald Reagan tax cuts of the 1980s.
Remember, too, that the Cain tax plan would eliminate the double-tax on saving and investment by removing capital gains, estates and dividends from the tax code.
Given the current economic malaise, which in large part can be traced to the weakened balance sheets and net worths of families suffering from the multi-year slump in stock prices and home values, increasing returns to saving and investment through a much lower marginal tax rate should boost asset values, and might be just what the doctor ordered.
As for businesses, not only would they get a globally super-competitive 9% tax rate, but they’d receive 100% expenses for new purchases of capital equipment.
Gary and Aldona Robbins who once worked at the treasury priced out the Cain plan on a static basis and discovered it to be revenue neutral.
And the models suggests a $26 trillion tax base yielding $2.3 trillion in revenue for a 9.1% overall rate.
No Federal Or State Tax But Just A Sales Tax
I’ve personally yet to have anybody to explain to me why simply having a sales tax instead of ALL the other taxes wouldn’t be fairer.
The rich would spend more than the poor and therefore pay more tax, and what could be simpler than that?!
Tax preparers understandably hate the idea of course because simply having just a sales tax would put around 100,000 out of work.
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