All Blog Posts Tagged 'income' (14)

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If you are like most folks, on February 3, 2013, you were glued to your TV set, watching a great Super  Bowl.  Parties with friends, and rivals, across the land celebrated the game, whether your team won or lost.  And this was a good thing, because, if not for the Super Bowl, February 3, 2013 would have been a sad day indeed!!

 

It was the One Hundredth anniversary of the ratification of the Sixteenth Amendment, which allowed the first constitutional income tax in our Nation’s…

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Tax code Reform:

Are you the rightful owner of the fruits of your labor?

 

If not you, who?

 

When someone takes something without permission of the rightful owner, what do you call it?…

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For a quick read, my blog post "38 Reasons for the FairTax" are adapted from the 27-page Testimony of Dan R. Mastromarco, Before the Joint Committee on Economics, on How U.S. Tax Policy Affects Business Investment and Job Creation, November 17, 2011.

"The largest single barrier to full employment of our manpower and resources, and to a higher rate of economic growth, is the unrealistically heavy drag of federal income taxes on private purchasing power, initiative and incentive." - President John F. Kennedy in a special message to Congress on tax reduction and reform Jan. 24, 1963

 

Even back in 1963, JFK knew how crippling income taxes are.

 

Thanks

Steve Bang

 

 

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An important thing to remember is that the fairtax replaces the income tax.

In order to understand why the fairtax taxes government consumption, we need to first understand how government collects taxes from government's spending under present income taxes. To simplify the discussion, imagine a group of people on an island. Every year, each chips in 22% of his income to pay for things important to the group.

One year the…

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Looking at it from this angle overly simplifies each state, but adding up the numbers

U.S. Bureau of Labor Statistics

Data extracted on: May 22, 2009



States with no income tax have a labor force of 26,845,500 and 2,183,200 unemployed for an average unemployment rate of 8.13%



States with no sales tax have a labor force of 5,824,300 and 541,600 unemployed for an unemployment rate of 9.3%



States with no income… Continue

We, the people of Michigan, are alarmed, and we have taken to the streets because of what we sense is the loss of proper respect and service by those we’ve sent to Lansing (and Washington) to represent US! However, unless our Michigan Tea Parties can channel energy into a vehicle of concrete action, the past century has shown us that we’re likely to continue to proceed down the path to less freedom, fewer liberties, less economic opportunity, more taxes, and larger… Continue

There has been a lot of noise made recently about sending tea bags to Washington to express our growing concerns about unfair and exorbitant taxes. While I think this is a great idea in theory it is not very practical. For one thing the tea bags will likely not get past the security measures at the Post Office, and for another you would be paying yet another tax in the form of postage to get it there.

Here is the next best thing to inundating our… Continue

Take for example the Avg Congressman's best years in today's dollars and privately

ask him.... or better yet the average family of six? and ask them (or yourself if the shoe

fits)



How Much would you be able to spend IF the FairTax was in place when

you were raising (or if currently raising) your children?



Somebody with the facts could easily weave a story about theFairTax

(I am not a good writer) and get it published...



We just need the best… Continue

One of the major problems with idealists is that they either get everything or they nothing. For example, an idealist might refuse to support a candidate or special interest group unless there is a component in their activity that supports cutting a Government budget by 90%. When he does not get everything that he wants, he ignores all political support of potentially useful ideas. The problem with this approach is that much needed idealists become impotent because their idealism never leads to… Continue

I follow the stocks... too closely... and, it isn't pretty. Many of the companies that are tanking the market are mega-orgs - some of which are too big to fail. At least that's what we are told.



How does a company get "to big to fail"? Well, by getting special treatment. That's how. And it isn't just special treatment from the latest… Continue