I wanted to put in an Ayn Rand quote, but I feel as of late that my blogs have been heavily laced with politics (not that I think that is bad, but perhaps boring to you. I am sure you’d rather be watching Hulu. I know I would.) So I will just say “hello,” and wish you well.
Check out the new page on the right.
I am reffering to the Economic Stimulus Plan. It’s Called a Tax Holiday.
Rather than have a plan to stimulate the economy which includes spending for:
A 6 month Tax Holiday is more practical.
“The government [still] prints $800 billion to replace the lost tax revenue needed for ordinary government expenses while people are spending the money they earned to stimulate our economy. Plan adds $800 billion in additional debt. [Just as it would in the plan as it is now.]“
The differences is that “we the people” would have the control of the way the money is spent.
We need to do this.
Some extra info here.
I also think having our first (half)black president is something to be exctied about.
UPDATE: Sorry, the original link deleted their pictures.
Wow. That is over $35 less than last year’s found change. Proof that we are in a recession.
So welcome to another FairTax Friday. I’ve got my FairTax mug o’joe. and I am ready to begin.
If you take anytime to think it through I think that you will easily see how the corporate tax is really more of a tool used to manipulate voters. Watch Candidate Corporate Tax Promoter This is how it plays out.
Candidate CTP: The other guy wants to cut taxes for the big businesses!
Voter: That is crazy!
Candidate CTP: I know! Those businesses have money, already. And a lot of those businesses are owned by people that didn’t work to get there. They were just grandfathered in!
Voter: That is insane! How can they do that?! We are poor!
Candidate CTP: You are very poor! Do you know what I want to do?
Voter: Oh, please tell us! We are dying to know!
Candidate CTP: I am going to raise taxes on those big businesses! They can handle it! They are just businesses! See how the other guy doesn’t like you like I do? He is willing to cut taxes for businesses, but doesn’t cut your taxes like I am going to! Think about how much better you are going to be! I am gonna put the burden on the businesses! And you are going to be smooth sailing! VOTE FOR ME!
Voter: Okay!
But let’s think about what happens when we raise taxes on the corporations. Let’s just say that the corporate taxes are raised to $100,000 on the Evil Corporate Company.* They sell rubber dog toys that look like tacos (Dogcos). So how are they going to pay for those new taxes? Any of or combination of these 3 ways.
Let’s examine those now, shall we? We shall.
1. Pay out of Profits. This one doesn’t sound bad, I mean they are making enough money, right? So take it out of the profits because that only effects the shareholders…wait…shareholders are individuals…now it’s individuals that are suffering. And actually the actual workers in this company were given shares as part of their benefits, and that includes poor Tommy Wallace that works in packaging. So in this case it is really the individuals that pay this tax.
2. Raise the price of the Dogcos. Okay, number one is lame, so let’s just jack the price up to pay that $100,000 in new taxes. Let the customers pay…for…wait…customers are individuals. The Evil Corporate Company is not really paying this, they are just passing the bill to those that buy those sweet Dogcos.
3. Make some cutbacks. Okay, this one has got to be the best. So we are going to cutback on human resours…no, that would definitely not work. So we will cutback on the benefits that the employees get….erg…that is still passing it on. Got it, we will cut back the quaility, of the product. Instead of buying rubber from 100% Quality Rubber Co. they will by from the Knot-Sew-Gr8 Rubber Co. (I think it’s Italian) And we will completely overlook that there rubber isn’t that good (that is until 42 dogs die in June when those Dogcos explode in their mouths, leading to the 61% drop in sales and subsequently the layoffs of 53 employees, including Tom Wallace), and we will ignore that Knot-sew-Gr8 is also able to sell their rubber cheaper because they don’t treat their employees as well as 100% does.
But I guess we can’t really get around the fact that individuals are ones that really pay for it in the end. I guess we can justify that by saying, “Well, those people might not be poor.” Yeah, because only the low income families are deserving of fairness.
There is a fourth option for the Evil Corporate Company: they can uproot their company and move to a nation whose taxes aren’t so harsh on them. And that wouldn’t effect our individu…um…hmm.
I finished my coffee.
*The FairTax Book goes into better detail on this.
If you type Mr. Miyagi’s saying to Daniel ” Look eye! Always look eye! ” into google, the second link is to this entry I wrote a while back. I think that is pretty neat.
Other top searches that lead people here-
(If you look up “always look at eye karate kid” on google Thinklings Galore is listed as number three.)
Also, someone asked me if the picture I “made” for the entry I mentioned above could be used for an article.
Here is the picture and link.
Alright, alright. I know most of you will think that I am a nerd, and that you have had your heaping helping of pretentious politics, and will immediately stop reading this because you have had your fill. Or because I overloaded on alteration it the previous sentence. But, however, that will not keep me from writing this entry. I was on board with the FairTax before, but since I have started “The FairTax Book” I have come to fully believe that 1) our income tax is a sham, 2)that we live in a system that rewards laziness, and punishes the productive, and 3) that the FairTax is the most brilliant way to change that and boost our economy.
Two questions:
Before I tell you that you are wrong on both questions let’s do some FairTax Facts!
What the FairTax is:
What the FairTax isn’t:
So what would it replace?
Okay. Now for those questions.
What did you make on your last paycheck?
Did you say what was on the part that you cashed or deposited? Wrong Answer, I didn’t ask what you took home, I asked what you made. You worked for and earned all that money and before you had a chance to do a thing about it the government took a “their” chunk. It’s called withholding.
“Oh, it’s just easier that way,” you idiotically say. Think about it this way, income taxes where once paid all at once (or quarterly if it was a huge amount), so when tax day rolled around one big check was written. So you say, “See, I told you it was easier to just have it taken out.” To that I say shut up. Let’s say you have $200 withheld every pay check. That is $5,200 a year. Let’s say you don’t get that withheld, but you take out the $200 and put it in a Savings with an interest rate of a mere 2.5% That is about $125 in a year’s time, and that is not a tax rebate, that is just money you would have earned in savings.
This isn’t what the FairTax is about, paying your tax in a lump sum, it’s just a teeny tiny example of how your money is taken away from you before you can even touch it, and how it could have been used for you.
When the 15th of April rolled around last year, what did you pay in taxes?
Did you say, “Nothing,” or “The government wrote me a check,” or if you are unfortunate maybe you said, “I only had to pay $50.00″ Well yyou’re all wrong. Because you paid all throughout the year, every single paycheck. But we are soooo (that’s right four ‘o’s) excited when we get our checks and the mail. And that is just it, it’s our checks. This isn’t a bonus, or reward. It’s our money that was being held on to. Think about it like this. I have a couch for sale for $800.00 and you pay me $1,000 (Hey have you even seen our couches?) So I take the $1,000, keep it, and after a year I give you $200. Wouldn’t you be excited! Yeah! “It’s….my change.” But how do we treat our tax return? Like someone out of the blue just wrote us a check. Think about the investments you could have been making had you had your money all along.
That will do it for this week.
Next Week:
Corporate Tax is a Myth
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