http://paul.kedrosky.com/archives/2009/07/the_narrowing_o.html The US must replace its tax structure.... To a broad based tax which would be reflective of "you use it....you pay for it".... State based mandates to Fed... States 10% C tax States direct additional 5% Fed C tax No other taxes.... ..................................................................................... The current system will only further separate the haves and the have nots.... The current system will disable competitiveness.... The US must become pro business and thus through tax friendliness attract businesses and their jobs from all over the world.... This is how the orchard must be replaced....
Not gonna happen. I have no idea why the current administration hates America with a rabid, self-destructive rage, but they do.
I think, like them or not, the current administration hates what America became over the last 8 years. Not sure that they will be able to undo the damage and carnage, but if I inherited this pile of manure, I would be resentful of what America has become as well.
The budget was balanced in 2001, when Clinton left office. The republican president, as they always do, increased spending without raising taxes. Bush almost doubled fed gov't spending in 8 years.
Bush II spent like crazy on military and lowered the tax burden on the top 3% creating huge debt and deficit. Go BUSH II go!!! (to hell).
This is impossible. George Bush CUT taxes which as we all know broadens the tax base. Therefore, how could the base be narrower than when he started?
The form of the tax code is irrelevant as long as voters insist on electing governments that offer services without requiring the tax base to pay for them.
I have come to believe that the current administration has NO idea how wealth is/was generated in this country... Without that engine of wealth generation to pull the "redistribution train" nothing is going to "trickle down" consistently to the masses. You can divvy up the railroads coal supply, and let the masses tear up the rails... but he end result is the train will run no more. My friends are mostly entrepreneurs who own their own business, as do I. Almost to a man they are reducing employment, withholding capital improvements and holding cash reserves. One is talking of proactively suspending operations...
What else would you expect them to do? I shut mine down. I went to the trouble of finding my employees other jobs first, which I didnt have to do, but they were friends, too. The real Problem is that the system is COMPLETELY WRONG AT THE CORE. Whatever you tax is discouraged, and disappears as a result, in time. Well, THESE idiots have decided to tax work and production. Its taken 90 years, but we now have an economy based on borrowing more and using the proceeds to import and consume goods instead, with only 30% of GDP left being production. If they were to eliminate all taxes on work, income and production, and instead go back to taxing imports and consumption, it might take a generation, but the nation would come back.